Motion Industries Sales Up 3.7% in 1Q - Modern Distribution Management

Motion Industries Sales Up 3.7% in 1Q

Parent company Genuine Parts Co. sales up 13% in 1Q.

Motion Industries, No. 6 on MDM’s 2013 list of the top 40 industrial distributors, reported sales for the first quarter of $1.1 billion, up 3.7 percent from the previous year, driven by a 3 percent contribution from acquisitions, offset by a 1 percent translation effect. Operating profit increased 5.3 percent to $83 million.

Parent company Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported sales for the first quarter of $3.6 billion, an increase of 13 percent compared to the prior year quarter. Profit increased 9 percent to $157.5 million.

"We are encouraged by our results in the first quarter and pleased to report a solid start to 2014," said Thomas Gallagher, chairman and CEO. "Our total sales increase included a 10 percent contribution from acquisitions and 4 percent underlying sales growth offset by a 1 percent headwind from currency."

Sales in the first quarter for EIS, GPC's electrical/electronic group, increased 29.6 percent, due primarily to contributions from acquisitions.

Sales for S. P. Richards, the office products group, decreased 0.5 percent.

Automotive sales increased 22.9 percent, driven by a 17 percent contribution from the GPC Asia Pacific acquisition and underline growth of approximately 7 percent, offset by a negative translation effect of 1.6 percent.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!