Posted July 20, 2017

Motion Industries sales rise 7.3 percent

Motion Industries had sales of $1.25 billion for the second quarter, a 7.3 percent increase from $1.26 billion in the same period last year.

Operating profit of $96.3 million improved 9.1 percent from $88.3 million in last year's second quarter.

Parent Genuine Parts Company's sales for the quarter ended were $4.1 billion, a new record and a 5% increase compared to $3.9 billion for the same period in 2016.

Net income for the second quarter was $190.0 million compared to $191.4 million recorded for the same period in the previous year. Earnings per share on a diluted basis were $1.29, up 1% from $1.28 for the second quarter last year.

"We are encouraged by the steady and consistent total sales increase thus far in 2017, which reflects the diversified aspects of our company combined with an ongoing strategy to drive both organic and acquisitive growth. This represents our second consecutive quarter of 5% total sales growth for the company and includes sales increases in each of our four distribution businesses, with our strongest performances in the Industrial and Electrical segments," said Paul Donahue, president and chief executive officer.