Earnings Roundup: Genuine Parts Company, Gardner Denver, SPX Corp, and MRC Global

Industrial Distribution provides a summary of some of the key earnings tallies in the marketplace.

Several companies have recently posted quarterly report numbers. Industrial Distribution provides a summary of some of the key earnings tallies in the marketplace.

Genuine Parts Company

On the heels of the news that Genuine Parts Company achieved its 63rd straight year of increased dividends for shareholders, the distributor announced strong fourth quarter numbers, capping a productive year. Genuine Parts logged Q4 revenue of $4.6 billion and earnings of $186.7 million, both numbers surpassing market expectations.

For the full year, revenue hit $18.74 billion and profits finished at $810.5 million.

The year began with Genuine Parts Company subsidiary Motion Industries being wrapped up with electronic materials and other electrical equipment business pillars within the company to comprise a new industrial parts group. That segment tallied sales of $6.3 billion for the year, with a profit of $487.4 million, a roughly 11 percent increased from 2017.

“We are proud of the industrial team and their tremendous operating performance in 2018,” Paul Donahue, president and CEO of Genuine Parts Company, noted in a conference call. “And as we look ahead to 2019, we expect to build on last year's success under the leadership of Randy Breaux, the recently appointed President of Motion Industries. Randy is a tremendous leader with significant experience in the industrial, manufacturing, and distribution markets.”

Gardner Denver Holdings Inc.

Milwaukee-based Gardner Denver Holdings Inc. reported a profit of $94.5 million in the fourth quarter. Revenue was at $712.7 million, below many analysts’ expectations.

Across all of 2018, Gardner Denver accumulated $269.4 million profit and $2.69 billion revenue. Total revenue was up 13 percent year over year.

The company’s industrial segment logged $323 million in order during the fourth quarter, a 4 percent bump when adjusted for mitigating factors.

SPX Corp.

Based out of Charlotte, North Carolina, infrastructure equipment supplier SPX Corp bested predictions for the fourth quarter, registering a net income of $39.2 million. Total revenue for the period was $445 million.

Profits for the full year finished at $81.2 million, against revenue of $1.54 billion.

“Overall, solid execution resulted in a very strong year-over-year performance in 2018, with significant improvements in our earnings and cash generation,” said Gene Lowe, president and CEO of SPX Corp., in a conference call. “Adjusted EPS increased 26 percent, while our segment income grew by $22 million and we continue to drive strong free cash flow conversion. Both our HVAC and Detection & Management segments performed well operationally, and we're pleased with the results and pace of our integration of our acquisitions.”

MRC Global Inc.

MRC Global reported fourth quarter revenue of $1.01 billion and net income of $10, roughly in line with expectations. The Houston-based company also shared totals for the full year: $4.17 billion in revenue and a $74 million profit. That marked 14 percent growth over 2017.

“In 2018, we have generated over $900 million of revenue through e-commerce solutions,” Andrew Lane, president and CEO of MRC Global, noted in an earning report conference all. “This includes our targeted online catalog sales to certain customers, which we continue to rollout. Over one-third of our top 36 customer's revenue is transacted online through some form of e-commerce and we expect it to continue to grow.”

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