Motion saw a decline in both its fourth-quarter and full-year sales, the MRO and industrial technology giant reported Tuesday, but officials nonetheless expect to see growth in 2025.
Genuine Parts Company, the parent of the no. 2 distributor on ID’s 2024 Big 50, said that its Q4 industrial sales came in at $2.1 billion, down 1.2% compared to the final quarter of 2023. Motion’s comparable sales were down 1.7% over that span, which was offset by a 0.8% contribution from acquisitions; foreign currency impacts dented the total by 0.3%.
Industrial sales across 2024 were down 1.4% to more than $8.7 billion after acquisitions reduced a 2.1% drop in year-over-year comparable sales.
The division’s fourth-quarter EBITDA of $271 million was down from nearly $283 million in the previous Q4, while full-year EBITDA slipped from $1.13 billion in 2023 down to $1.1 billion.
The overall company — which includes both Motion and auto parts provider NAPA — posted sales of nearly $5.8 billion in the fourth quarter and nearly $23.5 billion for the year, both up from 2023 levels.
Genuine Parts Company’s initial 2025 outlook anticipates sales growth of 2% to 4% for both the company as a whole and for the Motion business.
"While the year presented challenges due to macroeconomic conditions and softer end-market demand, we remained focused on controlling what we could — advancing our strategic initiatives to strengthen the business and effectively managing our operations,” Will Stengel, the company’s president and CEO, said in the release.
