Genuine Parts Company reported its 2017 fourth quarter and full-year financial results on Tuesday, showing that sales grew considerably year-over-year (YoY) at subsidiaries Motion Industries and EIS Inc. — Nos. 6 and 22 on Industrial Distribution's Big 50 List.
GPC's figures show that Q4 sales at Motion Industries — GPC's industrial products group — of $1.24 billion were up 7.4 percent YoY, with operating profit of $103 million up 34.7 percent. That follows Q3 sales growth of 7.1 percent and operating profit of $94.6 million. Q4 comparable sales were up 5 percent. Motion Industries comprised 29.4 percent of GPC's total business in Q4, down from 30.4 percent in Q3.
Motion's Q4 included the acquisition of Cedar Rapids, IA-based Apache Hose & Belting for an undisclosed amount, originally announced in GPC's Q3 earnings report.
For the full year, Motion's 2017 total sales of $4.97 billion increased 7.2 percent from 2016, while operating profit of $384 million increased 14.2 percent. Motion Industries comprised 30.5 percent of GPC's total 2017 sales.
At Atlanta-based EIS Inc. — GPC's electrical products group — Q4 sales of $192.6 million increased 8.9 percent YoY, while operating profit of $13.5 million decreased 12.6 percent. Comparable sales were down 2 percent. EIS comprised 4.6 percent of GPC's total business in Q4, down from 4.9 percent in Q3.
For the full year, EIS' 2017 total sales of $780.9 million increased 9.1 percent from 2016, while operating profit of $56.2 million decreased 7.2 percent. EIS comprised 4.8 percent of GPC's total 2017 sales.
Genuine Parts Company
GPC's total Q4 sales of $4.21 billion were up 11.3 percent from 2016, while total profit of $108.2 million decreased 29.1 percent and operating profit of $413.3 million increased 13.4 percent. Q4 organic sales increased approximately 2 percent, while acquisitions boosted overall sales by 8.5 percent.
Full-year 2017 sales of $16.31 billion — a company record — increased 6.3 percent, while net profit of $616.8 million decreased 10.3 percent and operating profit of $1.26 billion increased 2.5 percent.
Q4 sales at GPC's Automotive Group were up 16.7 percent YoY, with 13 percent of that from its Q4 acquisition of Alliance Automotive Group. Q4 sales at GPC's Business Products Group S.P. Richards were down 2.2 YoY.