Motion Industries, No. 6 on MDM’s 2015 list of the top 40 industrial distributors, reported sales for the third quarter of $1.2 billion, down 4 percent from the previous year, due to a 1 percent contribution from acquisitions offset by an equal currency headwind. Operating profit decreased 5.4 percent to $90.1 million.
Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the third quarter of $3.9 billion, a decrease of 2 percent compared to the prior year quarter. Profit decreased 1.3 percent to $188 million.
Sales in the third quarter for EIS, the electrical/electronic group, increased 2 percent to $196.8 million, due primarily to acquisition growth.
Sales for S. P. Richards, the office products group, increased 3 percent to $510.8 million.
Automotive sales decreased 2 percent to $2.1 billion.
For the first nine months, Genuine Parts reported sales of $11.6 billion, a 1 percent increase over the prior year period. Profit was basically unchanged at $544.4 million.
Sales for Motion Industries in the first nine months decreased 1 percent to $3.5 billion. EIS sales grew 2.1 percent and office products sales increased 10.9 percent, while automotive sales decreased 0.7 percent.
