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The average U.S. HVACR distributor reported a 6 percent sales increase in November, according to Heating, Air-conditioning and Refrigeration Distributors International’s Monthly Targeted and Regional Economic News for Distribution Strategies (TRENDS) report.
The growth rate was enhanced by the comparison to an unusually weak November 2011. On a rolling 12-month basis, the revenue per employee improved by about half the distributor sales growth rate.
Distributors' 12-month sales growth rate of 4.5 percent is the highest since July. HARDI Economist Andrew Duguay noted sales growth in the refrigeration, controls and HVAC subsectors, with HVAC leading the way.
Duguay said the performance was consistent with the residential construction gains in the September to November period when housing starts in the U.S. were 31.9 percent higher than the same period last year.
Brian Loftus, HARDI market research and benchmarking analyst, said, “November sales were helped by the strong performance in the Mid-Atlantic region that benefited from the clean up efforts following Hurricane Sandy.”
Days Sales Outstanding increased again in November, consistent with the normal seasonal increase from the summer lows. DSO remains below 50, the median level of the past four years.