Strategic activity from leading distributors like Ferguson, Grainger and Fastenal led to the most-read blogs of October 2020.
Latest In Earnings
Bearings manufacturer RBC Bearings sees profit sink 34.8% in the second quarter of fiscal 2021.
Year to date, sales decreased 31.6% as the company reports a loss of $287 million through the first three quarters of 2020.
Building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported third-quarter sales of $212.7 million, a 1.4% decrease over the prior-year period.
Dallas-based building materials distributor Builders FirstSource, fresh off the acquisition of BMC Stock Holdings, reported a stellar third quarter.
United Rentals also reported that sales for the first nine months of 2020 fell 9.3% compared to the same period of 2019.
Building materials distributor BlueLinx Holdings also reported a profit of $55.1 million for the quarter.
Phoenix-based electronics distribution giant Avnet reports a loss of $18.9 million in the fiscal first quarter.
Arrow reports that global sales of electronic components and solutions increased 5% to 5.3 billion.
For the first nine months of 2020, sales at the Chicago-based MRO distributor Lawson Products slipped 10.2%.
Landscape supply distributor SiteOne Landscape Supply Inc. also saw net income increase 39% to $48.2 million as the company benefited from two acquisitions during the quarter.
Tough times continued for Applied Industrial Technologies in the company’s fiscal first quarter; the company’s sales dipped 12.7% and profit fell 10.3%.
Systemax, the parent of Global Industrial, reported profit nearly doubled to $24.1 million as the company notched all-time highs in quarterly operating profit and operating margin.
Bearings manufacturer sees sales drop 14.7% in first nine months of 2020 as soft demand environment continued to hit the company’s top-line performance.
Health care sales were strong with 25.5% growth, while safety and industrial group sales of $3 billion were up 6.9%.
Industrial distributor’s sales decline 11.3% in the fiscal fourth quarter ended Aug. 29 compared to year-ago period while profit dips 21.2%.
After Grainger posted a moderate improvement in the third quarter, company executives dished on the distributor’s approach to acquiring new customers and how it is bolstering the company. Here's what they shared.
Genuine Parts Co., the parent of Motion Industries, reported that the distributor’s 3Q sales of $1.4 billion were down 18.6% year-over-year, or down 8.7% excluding the EIS divestiture.
In addition to setting a revenue record of $1.1 billion, the pool supply distributor saw profit increase nearly 50% for the quarter.
Year-to-date sales grow 5.5% from same period in 2019 as company posts profit growth for both the quarter and the first nine months of 2020.
