FOR IMMEDIATE RELEASE
Contact: Anthony Lagunzad, HARDI Public Affairs Specialist
Direct: 614.345.4328 x119
HARDI Distributors Report 15.0 Percent Revenue Increase in August
COLUMBUS, Ohio, October 3, 2018– Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 15.0 percent in August 2018.
The average annualized growth for the 12 months through August 2018 is 9.0 percent.
“Mid-teens growth is always encouraging, especially during the seasonally significant summer months,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “The gain was exaggerated by the weak prior year. The Northeast experienced more than twice as many cooling degree days than last August. Cooling degree days were up by 70% in the Great Lakes and Central regions, and almost that much in the Mid-Atlantic region.”
“HARDI distributor sales were more encouraging than the recent retail sales report,” said Loftus. Monthly auto sales have declined for three consecutive months and national existing home sales have declined for 4 consecutive months. Existing home sales in the Northeast and Midwest have been down for 9 consecutive months.
Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, spiked up with the strong sales this past spring. The action was temporary, and the DSO returned to normal in June and July. We have another spike higher this month after back-to-back monthly sales gains.
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.
For more information, contact Anthony Lagunzad at email@example.com.
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.