With Genuine Parts Company releasing its third quarter sales and earnings on Monday, they showed healthy growth for the company's industrial group, Motion Industries.
Motion Industries sales increased 10 percent to $1.22 billion, up from last year's $1.11 billion. Year-to-date sales are up 6.8 percent to $3.57 billion.
Q3 operating profit jumped 19.7 percent to $95.3 million, compared to 2013's $79.6 million. Year-to-date operating profit increased 10.6 percent to $273.7 million.
According to GPC Chairman and CEO Thomas C. Gallagher, Motion Industries' third quarter sales increase resulted from 8 percent underlying growth and 3 percent from acquisitions offset by a currency headwind of approximately 1 percent.