The October PMI registered 59.3%, an increase of 3.9% from the September reading of 55.4% — and the sixth consecutive month of expansion.
Eric Smith
Senior Editor Eric Smith is an award-winning business journalist whose coverage focus includes economic news and insights, industry trends, M&A, and analysis of small businesses and public companies across the wholesale distribution marketplace. Reach him at eric@mdm.com or 720-207-0335.
Posts By Eric Smith
Electrical distributor appoints co-CEO Kathleen Shanahan to top post; she becomes the first non-family CEO in company history and replaces Jayne Millard.
Buying group also reports that group purchases from AD suppliers were down 2% in the first nine months of 2020.
Building materials distributor SRS Distribution Inc. expands footprint in Ohio with the acquisition of a family-owned distributor of residential and commercial roofing, siding, windows and doors, and other products.
Dick Alario will continue to serve as a director of the company.
Bearings manufacturer RBC Bearings sees profit sink 34.8% in the second quarter of fiscal 2021.
Landscape distributor Heritage Landscape Supply Group Inc., a McKinney, Texas-based subsidiary of SRS Distribution, announced its fourth acquisition of the last four months with the addition of Irrigators Supply Inc.
Year to date, sales decreased 31.6% as the company reports a loss of $287 million through the first three quarters of 2020.
Building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported third-quarter sales of $212.7 million, a 1.4% decrease over the prior-year period.
Cummins-Wagner Co. Inc., an Annapolis Junction, Maryland-based distributor, announced this week it has acquired F.R. Mahony & Associates Inc. Financial terms of the deal weren’t disclosed.
Dallas-based building materials distributor Builders FirstSource, fresh off the acquisition of BMC Stock Holdings, reported a stellar third quarter.
In the second quarter of 2020, when COVID-19 was decimating the U.S. economy, real GDP decreased 31.4%.
United Rentals also reported that sales for the first nine months of 2020 fell 9.3% compared to the same period of 2019.
Building materials distributor BlueLinx Holdings also reported a profit of $55.1 million for the quarter.
Phoenix-based electronics distribution giant Avnet reports a loss of $18.9 million in the fiscal first quarter.
Arrow reports that global sales of electronic components and solutions increased 5% to 5.3 billion.
For the first nine months of 2020, sales at the Chicago-based MRO distributor Lawson Products slipped 10.2%.
Applied Industrial Technologies hopes to grow revenue 40% to $4.5 billion in the coming years, and M&A will not surprisingly play a huge role in that ambitious pursuit. Here’s what company leaders said about their acquisition strategy moving forward.
The U.S. Census Bureau this week released advance indicators showing that the international trade deficit and wholesale inventories both decreased in September.
Landscape supply distributor SiteOne Landscape Supply Inc. also saw net income increase 39% to $48.2 million as the company benefited from two acquisitions during the quarter.
