HARDI Distributors Report 4.8% Revenue Decrease in May

FOR IMMEDIATE RELEASE

Contact: Allison Greene, HARDI Marketing Director

Email: agreene@hardinet.org

Direct: 614.345.4328

HARDI Distributors Report 4.8% Revenue Decrease in May

COLUMBUS, OH – Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing sales by HARDI distributors decreased by 4.8% during May 2026.

The annual sales growth for the 12 months through May 2026 is an increase of 2.6%.

“Almost a 5% sales decline is a lousy start for the first meaningful month of cooling season, but it is not as weak as the headline,” said Brian Loftus, Senior Market Analyst at HARDI. “This May had one less billing day than May of 2025. We estimate sales would have been about flat or comparable year-to-year with the same number of billing days.”

HARDI’s monthly distributor sales survey also calculates Days Sales Outstanding or DSO which is a measure of how quickly customers pay their bills. The DSO for May 2026 was less than 38 days. “There is seasonality to the DSO, so we need to compare the latest results to the corresponding prior months,” said Loftus. “The May DSO is a bit quick than the 40 days reported during May of 2022, may of 2023, and May of 2024.”

“An early start to cooling season got sales off and running in our Northeast and Mid-Atlantic regions,” said Loftus. “With a lot of difficult weather comps across the country during the next couple of months, we need that summer magic to cook-up some demand or our annual sales growth will remain in low single-digit range.”

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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