The 2020 Mid-Year Economic Update_long

Third Quarter Earnings Roundup

Its earnings season! As quarterly earnings reports continue to trickle in, MDM offers a recap of how the third quarter is shaping up for more than two dozen of the largest distributors and manufacturers.
Earnings Season Company Reports Stock Market Ticker Words 3d Ill
Third quarter earnings reports started trickling in earlier this month and some of distribution’s biggest names are making headlines. Many distributors reported average mid-single digit increases, while manufacturers are reporting a more challenging quarter with flat to slightly lower Q3 earnings. 
Fastenal’s sales rose 7.8% during the quarter while Lawson Products came in with another strong report. 
Lawson revenues grew 7.1% to drive a 59% improvement in adjusted operating income year-over-year and an 11% increase sequentially over the second quarter, with adjusted EBITDA margin increasing to 10.9% of sales, according to Michael DeCata, president and CEO.
Amazon took a hit as third-quarter earnings fell short of Wall Street expectations even with a sales bump of 24%. The company continues to spend heavily to expand its free one-day delivery program.
Follow the links below to see the latest earnings reports.

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