During the quarter, operating income more than tripled and adjusted EBITDA increased by $8.4 million, or nearly 27%.
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It's a big week for industrial manufacturer's financial reports. We recap the key figures for four of them here.
NOW's President and CEO said the distributor had the most profitable first half of the year since being a public company.
Wesco reported record second-quarter sales thanks to growth in two segments which offset a quarterly drop in its electrical business unit.
The company says net sales for 2023's second quarter were $816 million, a decrease of $423 million from last year.
Major organic sales decline and deflation continued to slam the building products distribution giant in 2Q.
Excluding Global's $69 million acquisition of Indoff that closed in May, 2Q sales were down 5.2% year-over-year.
Electrical, communications and data networking products distributor Graybar’s net sales for the second quarter of 2023 totaled $2.8 billion,
Watsco's second-quarter sales were impacted by a wide-ranging regulatory requirement that took effect on Jan. 1.
It's a big week for industrial manufacturer's financial reports. We recap the key figures for six of them here.
Lower volumes and last year's oil & gas divestiture weighted down on revenue growth, while the company continued to slash inventories.
The company's 2023 second quarter included one new acquisition and the naming of a new Chief Strategy Officer.
That geographic segment includes gases and welding products distributor Airgas, which was No. 5 on MDM’s Top Industrial Distributors List.
Year-over-year sales growth slowed to 2% in the second quarter, but operating margin increased to 20.6%, according to an earnings report.
The industrial distribution giant's results seemed to outperform the rest of the sector, with a sequential revenue growth slowdown more subdued than what others have reported in this earnings cycle.
Sales within the company's Performance Coatings Group increased 0.3% during the quarter.
Structural connector and building solution manufacturer Simpson recorded consolidated net sales of $597.6 million, an increase of 0.7% YoY.
K-C Professional posted second-quarter sales of $887 million, an 11% increase year-over-year and 13% organic sales growth.
The company reduced its total global workforce by 10% this year as 'demand for consumer electronics waned,' Reuters reported.
