Genuine Parts Company sales grow 3.3 percent
Genuine Parts Company reported sales for the first quarter were $4.7 billion, a 3.3 percent increase compared to $4.6 billion for the same period in 2018.
Total sales for the quarter included 3.3 percent comparable growth, approximately 2 percent from acquisitions, and an approximate 2 percent negative impact from foreign currency translation.
Net income for the first quarter was $160.3 million and earnings per share on a diluted basis were $1.09.
Sales for the Industrial Parts Group were up 5.7 percent to $1.6 billion, including a 4.2 percent comparable sales increase, 1.8 percent from acquisitions, and a slightly unfavorable foreign currency translation. Operating profit for the Industrial Parts Group, which includes Motion Industries, was $121 million, compared to $112 million in the same period last 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.
