The company's Spring 2023 acquisition of office products distributor Indoff powered most of the growth, while volume also improved.
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It's another week for industrial manufacturers' financial reports. We recap the key figures for thee of them here.
Graybar's net sales were a 3Q record, but growth is down from the numbers recorded in the first and second quarter of 2023.
The company reported double-digit organic sales growth in commercial aviation, defense and space and process solutions.
The bearings maker said it's eyeing the sale of non-core Aerospace product lines, which include seals, rings and PEDs.
Year-over-year sales declines continued at the toolmaker, but gross margin and operating margins improved substantially.
Net sales for the first quarter of the company's fiscal year were $1.1 billion, an increase of 3.1% over the prior year.
While total sales growth continued to slow from earlier in the year, it still far outperformed the MRO market.
While MSC's June-August quarter ended with strong daily sales growth, it flattened to low-single digits in September and October.
3Q Industrial & Safety sales fell nearly 5% year-over-year amid mixed end-market demand and distributors right-sizing inventory levels.
For 3Q 2023, sales in North America were $2.21 billion, an increase of 2.7%, while sales in Europe were $2.38 billion, an increase of 3.4%.
Net sales for 2023's third quarter were nearly $1.16 billion, an increase of $56.8 million, or 5.2%, from 2022 levels.
For 3Q 2023, the company also reported a 9% increase in operating income to a record $257 million.
Sales for Genuine Parts Company's industrial segment were $2.2 billion, up 0.6% from the same period in 2022.
For the third quarter, the company reported more than $1.84 billion in net sales, a 2.4% increase over the same period in 2022.
The company added $780 million in combined revenue from acquisitions during its fiscal 2023, which ended July 31. Find a recap of the distribution giant's financials.
Despite some uncertainty about what's to come in 2024, 87% of NetPlus Alliance distributor members remain "mostly optimistic."
Strong member sales were seen across 6 product categories: Janitorial, Safety, Industrial, Restoration, Packaging, & Public Safety.
Fastenal reported its August 2023 sales information, which showed net and daily sales were up 3.6% compared with the same period in 2022.
The 2Q period follows the company's February-April period, in which sales slid 1.5% YoY and increased 49.2% sequentially.
