Genuine Parts Co. sales rise 9.4 percent
Genuine Parts Co. reported sales for the fourth quarter were $4.6 billion, a 9.4 percent increase compared to $4.2 billion for the same period in 2017.
Net income for the fourth quarter was $186.7 million and earnings per share on a diluted basis were $1.27. Before the impact of certain transaction and other costs incurred primarily related to the company's acquisition of Alliance Automotive Group, adjusted net income was $198.4 million, or $1.35 per diluted share.
Total sales for the fourth quarter included 4.6 percent comparable growth, approximately 6 percent from acquisitions and an approximate 1.2 percent negative impact from foreign currency translation.
Sales for the Industrial Group, which includes Motion Industries and the EIS electrical/electronic materials segment, were up 8.7 percent to $1.6 billion, including an approximate 7 percent comparable sales increase and 2 percent from acquisitions.
Sales for the year were $18.7 billion, a 15 percent increase compared to $16.3 billion for the same period in 2017. Net income for the year was $810.5 million and earnings per share on a diluted basis were $5.50.
Full-year Industrial Group sales of $6.3 billion compared to $5.8 billion in the previous year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
