The company's U.S. sales fell 7% year-over-year during 2Q.
Latest In Earnings
Distribution segment volume, price and M&A each increased year-over-year, though volume was less than anticipated.
Year-over-year sales declined by 1.6% after an increase in 1Q sales and organic growth.
Hilman promotes John Micheal Adinolfi to CEO, effective Jan. 1 of next year.
Growth continued to slide across all geographies, product segments and customer end markets.
Net profit declined in 2Q, which the company partly attributed to its ongoing strategic transformation project.
Beacon said pricing and organic volumes drove about 3% combined sales growth during the quarter.
Rexel reported sales in North America remained flat with some improvement, offset by challenging market activity in Europe.
The company said customer destocking and the delay of capital projects clearly impacted its 2Q results.
As expected, DSG's organic sales declined compared to a year ago but sequential improvement was driven by increased sales in many end markets.
Q2 growth driven by DEWALT, Outdoor Products and Engineered Fastening was offset by SBD's divested Infrastructure segment earlier this year.
A healthier residential end market and an increase in average selling price bolstered Watsco’s total 2Q sales to $2.1 billion.
The company's Safety & Industrial business unit saw a reversal from 1Q's organic decline.
Year-over-year sales and profit continued to slide at MRO supplies distributor Motion, though not as much as in 1Q.
Weak fastener sales continue to weigh on overall results, though the company indicated that customer acquisition efforts remain encouraging.
The company updated corrective actions it's taken in the wake of complexities in MSC's web pricing realignment rollout from earlier this year, which directly weakened sales and profits.
The company also acquired a Canada-based JanSan distributor earlier in June.
The distributor saw sequential improvement in 4Q as volume growth across major product lines was partially offset by steel price deflation.
MSC cited complexities in its web pricing realignment rollout as hurting March-May results, alongside weakness in heavy manufacturing.
Daily sales growth is up, yet still soft, following Fastenal's April low.
