Genuine Parts Company — the parent company of ID Big 50 List distributors Motion Industries (No. 8) and EIS Inc. (No. 22) — reported its fiscal performance for its second quarter of 2017 on Thursday, which included considerable year-over-year growth at both subsidiaries.
GPC's figures show that Q2 sales at Birmingham, AL-based Motion Industries (GPC's industrial products group) were up 7.3 percent year-over-year to $1.25 billion — just ahead of Q1's $1.23 billion. Motion Industries comprised 30.6 percent of GPC's total business, down 0.9 percent from Q1.
Motion's Q2 operating profit of $96.3 million was up 9.1 percent year-over-year, while its 2017 six-month sales of $2.48 billion increased 7.1 percent.
At Atlanta-based EIS Inc. — GPC's electrical products group — Q2 sales of $204.6 million increased 10.9 percent year-over-year and increased 11.0 percent from Q1. EIS comprised 5.0 percent of GPC's total business, up from 4.7 percent in Q1.
EIS' Q2 operating profit of $15.5 million declined 2.8 percent, while its 2017 six-month sales of $389.0 million rose 8.0 percent.
Genuine Parts Company
GPC's total Q2 sales of $4.1 billion increased 5.1 percent year-over-year. Gross profit increased 6.4 percent and operating profit increased 2.6 percent. Total net profit of $190 million dipped 0.7 percent.
"This represents our second consecutive quarter of 5 percent 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 GPC president and CEO Paul Donahue.
Sales at GPC's office products group, S.P. Richards, were up approximately 5 percent year-over-year.