The 2020 Mid-Year Economic Update_long

Motion Industries Sales Up 7.3% in 2Q

Parent company Genuine Parts sales up 5.1 percent in second quarter.

Motion Industries, No. 4 on MDM’s 2017 list of the top 40 industrial distributors, reported sales for the second quarter of $1.3 billion, up 7.3 percent from the previous year. Operating profit increased 9.1 percent to $96.3 million.

Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the second quarter of $4.1 billion, an increase of 5.1 percent compared to the prior year quarter. Profit decreased 0.7 percent to $190 million.

Second quarter sales for EIS, the electrical/electronic group, increased 10.9 percent year-over-year to $204.6 million. Sales for S. P. Richards, the office products group, increased 4.7 percent to $504.4 million for the second quarter. And automotive sales were $2.2 billion for the second quarter, up 3.6 percent year-over-year.

Sales for Motion Industries in the first six months increased 7.1 percent to $2.5 billion. EIS sales increased 8 percent to $389 million. Office products sales increased 6.8 percent to $1 billion. And automotive sales in the first half increased 3.5 percent to $4.2 billion.

Genuine Parts reported sales for the first six months of $8 billion, a 5.1 percent increase over the prior year period. Profit was $350.1 million, up 0.2 percent from the previous year.

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