See the key financial figures reported by three major industrial manufacturers and distributors.
Latest In Earnings
See the key financial figures reported by five major industrial distributors.
Despite a sales decline in 1Q, Regal Rexnord CEO Louis Pinkham has high hopes for the manufacturer following its acquisition of Altra Industrial Motion.
The company reported 1Q 2023 revenue of approximately $2.52 billion, a slight increase compared with $2.4 billion reported in 1Q 2022.
Parent company Resideo Technologies noted that ADI's eCommerce channel grew 17% during the quarter.
The oilfield products distributor's 1Q growth far outpaced that of the global rig count, powered by sales in the U.S. and international.
While down somewhat from its 4Q22 figures, Wesco posted more double-digit sales growth in 1Q despite harsh market headwinds.
The industrial tools manufacturer also announced a new leader for its Tools & Outdoor segment.
The company's year-over-year daily sales growth accelerated after several months of decline, powered by sales to manufacturing customers.
MDM looks at another round of earnings reports from industrial distributors and manufacturers.
The decline in sales was primarily driven by a weak housing market that has plagued the building materials and construction industries for the past year.
The company reported 1Q 2023 gross profit of $98.4 million, down from the $107.8 million reported during the same quarter in 2022.
The industrial distributor's fiscal 3Q sales grew 5% year-over-year.
AD members saw their sales increase 6% year-over-year in 2023's first quarter.
The earnings call comes two weeks after Amazon said its Business segment was driving $35 billion in annualized gross sales by end of 2022.
MDM looks at another round of earnings reports from industrial distributors and manufacturers.
The increase reflected organic sales growth of 10.1% for the Swedish bearings manufacturer.
The industrial automation manufacturer saw explosive sales growth in 2Q compared to 1Q.
The change includes a 0.7% increase from acquisitions, offset by a negative 0.3% impact from foreign currency translation.
After a strong finish to 2022, Grainger maintained that momentum in 2023’s first quarter, according to its latest earnings report.
