It was another deceleration as daily sales declined sequentially vs. March in all three of the company’s geographies and product lines.
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It’s already the company’s eighth acquisition announced in 2024.
While sales growth slowed sequentially, it was another record quarter for the electrical and industrial supplies distributor.
Growth in DEWALT and Engineered Fastening was more than offset by lower infrastructure volume and "muted consumer and DIY demand."
Lawson has acquired S&S Automotive, an auto and industrial parts supplier based near Chicago.
The company noted that volume declined year-over-year in all three of its business segments.
Economists had forecasted a monthly gain of 0.3%.
Persistent high inflation led the Fed to maintain its benchmark lending rate at a 23-year high.
The building materials distributor saw healthy year-over-year and sequential improvements in gross margin.
It was a reversion from a March that had seen the first expansion-territory PMI since September 2022.
Sales sequentially decelerated further amid what the company cited as economic softness and lower market demand.
That's down from 5.1% in 4Q, as Global's 2Q23 acquisition of Indoff Inc. continued to inflate its year-over-year results.
It’s the distribution group’s first acquisition since it was formed by Trive Capital at the end of 2023.
Following 10 acquisitions in 2023 and more expansion in 2024, Singer enhances its capabilities by partnering with AD.
The company's largest segment saw organic sales fall 1.5% in the Americas, though operating profit saw a healthy improvement.
The company also is acquiring a 13-branch distributor in France.
The 45,000-SF facility in Jerome, ID is a relocation of the company's former DC in Twin Falls, ID.
Designed to be LEED-certified, the DC is equipped with advanced automation equipment and robotics.
A pair of acquisitions and two other moves pushed the distributor’s footprint to more than 30 locations.
