The 2020 Mid-Year Economic Update_long

Motion Industries Sales Up 3.4% in 1Q

Parent company Genuine Parts Co. sales up 3 percent in 1Q.

Motion Industries, No. 6 on MDM’s 2014 list of the top 40 industrial distributors, reported sales for the first quarter of $1.2 billion, up 3.4 percent from the previous year, including 1 percent growth from acquisitions. Operating profit increased 5.7 percent to $87.8 million.

Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the first quarter of $3.7 billion, an increase of 3 percent compared to the prior year quarter. Profit increased 2 percent to $161 million.

First quarter sales at EIS, the electrical/electronic group, increased 1 percent year-over-year to $182 million, including 6 percent growth from acquisitions.

Sales for S. P. Richards, the office products group, increased 17.3 percent to $490.3 million for the first quarter, including 6 percent growth from acquisitions.

Automotive sales were $1.9 billion for the first quarter, flat with the prior year.

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