HARDI Distributors Report 2.4% Revenue Increase in December

FOR IMMEDIATE RELEASE

Contact: Allison Greene, HARDI Marketing Director

Email: agreene@hardinet.org

Direct: 614.345.4328

HARDI Distributors Report 2.9% Revenue Decline in November

COLUMBUS, OH – Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing sales by HARDI distributors increased by 2.4% during December 2025.

The annual sales growth for the 12 months through December 2025 is an increase of 2.8%.

“It was nice to see 2.4% sales growth during December against a challenging prior year, but that growth was helped by one more billing day than last year,” said Brian Loftus, Macroeconomic and Residential Market Analyst at HARDI. “We estimate for the month sales would have declined by 2.3% with the same number of billing days.”

The monthly sales survey also calculates distributor’s Days Sales Outstanding which is a measure of how quickly customers pay their bills. “The DSO for December was less than 39 days which is close to the 38 days one year ago.” said Loftus. “The recent DSO for December is a bit quicker than the 43 days during December for 2021, 2022 and 2023.”

“The modest sales growth is consistent with the depressed existing home sales, weak consumer confidence, and struggling ABI index,” said Loftus. “Hopefully inflationary pressure can ease this year and we can see some benefits from the six rate cuts.”

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 570 distributor members and their 5,000+ branch locations, and close to 600 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 staff. HARDI Affiliate members market, distribute, and support heating, air-conditioning, and refrigeration equipment, parts, and supplies.

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