Posted October 17, 2019

Genuine Parts Company sales climb 6.2 percent

Genuine Parts Company said its sales for the third quarter were a record $5.0 billion, a 6.2 percent increase compared to $4.7 billion for the same period in 2018.

Total sales for the quarter included the contribution of 1.2 percent comparable growth and 6.7 percent from acquisitions, offset by a 1.0 percent negative impact from foreign currency translation and 0.7 percent due primarily to the sale of Grupo Auto Todo in the first quarter of 2019.

Net income for the quarter was $227.5 million and earnings per share on a diluted basis were $1.56. 

Sales for Motion Industries of $1.7 billion increased 9.9 percent compared to $1.5 billion in last year's third quarter. Organic sales increased 0.9 percent while acquisitions accounted for a 9 percent gain. Operating profit in the segment of $137.5 million compared to $119.1 million in the same period last year.