Motion Industries Sales Down 1.7% in 2Q

Parent company Genuine Parts Co. sales down 1 percent in 2Q.

Motion Industries, No. 4 on MDM’s 2016 list of the top 40 industrial distributors, reported sales for the second quarter of $1.2 billion, down 1.7 percent from the previous year, including 2 percent growth from acquisitions. Operating profit decreased 0.7 percent to $88.3 million.

Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the second quarter of $3.9 billion, a decrease of 1 percent compared to the prior year quarter. Profit decreased 2 percent to $191.4 million.

Second quarter sales for EIS, the electrical/electronic group, decreased 5 percent year-over-year to $184.5 million.

Sales for S. P. Richards, the office products group, increased 1 percent to $481.6 million for the second quarter, including 5 percent growth from acquisitions.

Automotive sales were $2.1 billion for the second quarter, down 0.7 percent year-over-year.

For the first six months, Genuine Parts reported sales of $7.6 billion, a 0.8 percent decrease over the prior year period. Profit was $349.4 million, down 2 percent from the previous year.

Sales for Motion Industries in the first six months decreased 2.1 percent to $2.3 billion and EIS sales decreased 4.4 percent to $360.4 million. Office products sales decreased 1 percent to $958.3 million, while automotive sales in the first half increased 0.5 percent to $4 billion.

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