Motion Industries, Genuine Parts Company’s industrial parts division, reported sales in the second quarter of 2022 were $2.1 billion, up 34.5% from the same prior-year period. Sales reflected a 17.8% increase in comparable sales and a 17.6% contribution from the acquisition of Kaman Distribution Group.
“Our second-quarter results were driven by exceptional execution from our teammates along with the continued focus on our strategic investments, which delivered strong sales and margin expansion in both segments,” GPC President Will Stengel said.
Automotive Parts Group sales were $3.5 billion, up 8.5% from the same period in 2021.
Overall sales for GPC were $5.6 billion, a 17.1% increase year over year. Sales reflect an 11.5% increase in comparable sales and an 8.8% benefit from acquisitions. Net income was $373 million.
“GPC achieved another record quarter, consisting of double-digit sales and earnings increases and a steady cadence of continued growth. We are benefiting from the resiliency of our Automotive and Industrial businesses and the strategic mix of our operations. We want to thank our 53,000 talented GPC teammates for their exceptional work and commitment to excellence,” Paul Donahue, Chairman and Chief Executive Officer, said.