Motion Industries, No. 4 on MDM’s 2016 list of the top 40 industrial distributors, reported sales for the third quarter of $1.2 billion, a decrease of 0.7 percent year-over-year, including a 2.5 percent underlying sales decrease and 2 percent benefit from acquisitions. Operating profit decreased 5 percent to $85.6 million.
Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the third quarter of $3.9 billion, an increase of 0.5 percent compared to the prior year quarter, including a 3.5 percent contribution from acquisitions. Profit decreased 1.4 percent to $185.3 million.
Sales in the third quarter for EIS, the electrical/electronic group, decreased 9 percent to $178.4 million.
Sales for S. P. Richards, the office products group, increased 5 percent to $535.2 million.
Automotive sales increased 1.5 percent to $2.1 billion.
For the first nine months, Genuine Parts reported sales of $11.6 billion, a 0.3 percent decrease over the prior year period. Profit decreased 1.8 percent to $534.7 million.
Sales for Motion Industries in the first nine months decreased 1.6 percent to $3.5 billion. EIS sales fell 6 percent, while office products sales increased 1 percent and automotive sales increased 0.8 percent.
