FOR IMMEDIATE RELEASE
Contact: Anthony Lagunzad, HARDI Public Affairs Specialist
Direct: 614.345.4328 x119
COLUMBUS, Ohio, November 1, 2017– Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 0.2 percent in September 2017.
The average annualized growth for the 12 months through September 2017 was 5.6 percent.
“September 2017 had one less billing day than 2016, 21 percent fewer cooling degree days, and two hurricanes disrupting operations,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “The heat wave out west led to very strong sales growth that influenced the average calculation. The median distributor’s sales declined by 1.6 percent.”
“It looks like weather was the major factor behind HARDI distributor sales in August and September because the underlying economy remains strong, said HARDI Senior Economist Connor Lokar.” “The US labor market is generally tightening. September’s 4.1 percent unemployment is the lowest level since before the Great Recession. The number of hours worked is rising after contracting through most of 2016. The increase signals an increase in demand for labor and the number of job openings is generally rising.”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is now near 44 days. “This is the normal DSO pace for this time of year,” said Loftus. “It is the midpoint of the recent levels for September.”
HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.
HARDI (Heating, Air-conditioning and Refrigeration Distributors International) is the single voice of wholesale distribution within the HVACR industry.
HARDI members market, distribute, and support heating, air-conditioning, and refrigeration equipment, parts and supplies. HARDI Distributor members serve installation and service/replacement contractors in residential and commercial markets, as well as commercial/industrial and institutional maintenance staffs. HARDI proudly represents more than 480 distributor members representing more than 5,000 branch locations, and close to 500 suppliers, manufacturer representatives and service vendors.