For the fourth quarter, the big-box retailer — and now the owner of distributor HD Supply — reported sales grew 25.1% to $32.3 billion.
Latest In Earnings
PPG completes addition of VersaFlex, a manufacturer specializing in polyurea, epoxy and polyurethane coatings for water and waste water infrastructure, flooring, transportation infrastructure and industrial applications
Auburn Bearing & Manufacturing president says the acquisition “aligns with our strategy to expand our product offerings.”
NOW Inc., which reported a loss of $427 million for the year, also saw revenue sink 45.1% in in 2020.
Genuine Parts Co., the parent of Motion, reported that the distributor’s 4Q sales of $1.4 billion were down 3.3% year-over-year and represented 34% of the company’s revenues in the period.
Miami-based HVACR distribution giant Watsco sees 2021 as optimal for ramping up existing growth drivers in hopes of continuing at its record-setting pace.
In the fourth quarter, sales decreased 24.4% as the company also reported a loss of $11 million in the period.
For the fourth quarter, sales were up 7.7% from same period in 2019 as company posted profit growth for both the quarter and the full year.
For the fourth quarter, sales were also up big — 97% — thanks to its market-shifting acquisition last year.
Building materials distributor also reported a profit of $71 million, up significantly from a profit of $18.2 million the same quarter a year ago.
For the fourth quarter, however, Arrow reported that sales increased 15.2% to 8.5 billion.
Fastenal’s reported daily sales for the month were down 9.1% versus a year due to softness in fastener sales and the non-residential construction end market.
“Disappointing” was how one analyst described the industrial distributor’s gross margin performance (down 290bps) in the period, but such a plunge was all too familiar for many companies in these pandemic-plagued times.
Industrial distributor Grainger says its fourth-quarter sales were up 3.3% as the company continued to deal with the “challenges and uncertainty” of COVID-19.
Like most companies, Applied continued to be impacted by the COVID-19 crisis and saw year-to-date sales fall 11.3% over the same period in 2019.
Year to date, sales increased 2.5% to $9.4 billion for the Phoenix, Arizona-based electronics distribution giant Avnet.
United Rentals also reported that sales for the fourth quarter of 2020 fell 10.1% compared to the same period of 2019.
Though revenue was flat, the diversified manufacturer posted double-digit profit growth in a year dominated by COVID-19 and pandemic-related product sales.
However, the manufacturer closed the year on a positive note with fourth-quarter sales up 2.3%.
On January’s fourth-quarter earnings call, Fastenal CEO Dan Florness and CFO Holden Lewis pulled back the curtain on how they view the company’s diminishing role of physical branches.
