Motion Industries, No. 6 on MDM’s 2014 list of the top 40 industrial distributors, reported sales for the third quarter of $1.2 billion, up 10 percent from the previous year, driven by a 3 percent contribution from acquisitions. Operating profit increased 19.7 percent to $95.3 million.
Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the third quarter of $4 billion, an increase of 8.2 percent compared to the prior year quarter. Profit increased 9.7 percent to $190.5 million.
Sales in the second quarter for EIS, GPC's electrical/electronic group, increased 35 percent to $193.3 million, due primarily to contributions from acquisitions.
Sales for S. P. Richards, the office products group, increased 15.4 percent to $496.6 million.
Automotive sales increased 4.1 percent to $2.1 billion.
For the first nine months of 2014, Genuine Parts reported sales of $11.5 billion, a 9 percent increase over the prior year period. Profit rose 2.1 percent to $545.7 million.
Sales for Motion Industries in the first nine months increased 6.8 percent to $3.6 billion; EIS sales grew 32.2 percent to $561.7 million. Office products sales increased 6.4 percent, while automotive sales in the first nine months increased 9.6 percent.