HARDI Distributors Report 14.2% Revenue Increase in December

FOR IMMEDIATE RELEASE

Contact: Connor Pilbeam, HARDI Content Manager

Email: cpilbeam@hardinet.org

Direct: 614.345.4328

HARDI Distributors Report 14.2% Revenue Increase in December

COLUMBUS, OH, February 7, 2025 – Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing sales by HARDI distributors increased by 14.2% during December 2024.

The annual sales growth for the 12 months through December 2024 is an increase of 3.9%.

“14% sales growth during December was the best growth rate of the year, but there were some unusual factors behind that performance,” said HARDI Macroeconomic & Residential Market Analyst Brian Loftus. “Sales were off by almost 8% during December of 2023, so this year had a very easy comparison, and an extra selling day to compare to that soft prior year. We estimate the sales growth would have been 8.8% with the same number of billing days.”

The monthly sales survey also calculates distributor’s Days Sales Outstanding, a measure of how quickly customers pay their bills. “DSO ends the year near 38 days versus 43 days during the past couple of Decembers,” said Loftus. “The DSO is not indicating any signs of financial stress by the customers.”

“Another wrinkle in December’s results could have been the equipment changeover,” said Loftus. “Inventories in the channel swelled during the back-half of the year. The frothy sales this month allowed the sales-to-inventory ratio recovery to resume. It looks like the post-Covid industry normalization is back on track.”

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.

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ABOUT HARDI

HARDI (Heating, Air-conditioning and Refrigeration Distributors International) is the single voice of wholesale distribution within the North American and Latin American HVACR markets.

A non-profit association, HARDI serves its members through government affairs and advocacy efforts, market intelligence and benchmarking, training programs, and world class events. HARDI proudly represents more than 490 distributor members and their 5,000 + branch locations, and close to 500 suppliers, manufacturer representatives and service vendors. HARDI Distributor members serve installation and service/replacement contractors in residential and commercial markets, as well as commercial/industrial and institutional maintenance staffs. HARDI Affiliate members market, distribute, and support heating, air-conditioning, and refrigeration equipment, parts and supplies.