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Millwork, building materials and wood products distributor Huttig will evaluate potential strategic alternatives to maximize shareholder value.
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Improve efficiencies, reduce overhead and get paid faster with these eight ways to overhaul your accounts receivable (AR) process — which is always critical but especially so now.
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Grainger’s sales dipped 2% last quarter as pandemic-related sales (e.g., PPE) again offset softness in its traditional product line, but non-pandemic sales are showing signs of life.
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The largest B2B distribution M&A deal finalized Monday, and it is going to have a big impact on electrical, industrial and datacomm distribution.
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U.S. sales decrease 22 percent as company continues to deal with uncertainty surrounding the COVID-19 pandemic.
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The industrial distributor said preliminary fiscal third-quarter sales were $835 million, which would mark a 3.6% decrease from year-ago period.
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Distributor expects negative impact from COVID-19 to be reflected in second quarter results.
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The safety category again stole the show for Fastenal Co. during its May sales report with a 136.3% increase, while the companys fastener business has likely hit the bottom during the COVID-19 disruption and could be on the upswing.
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The company reported daily sales up 14.8% versus a year ago based on strength in safety.
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While the COVID-19 pandemic has slowed M&A to a crawl in distribution and most sectors, companies that chose to hunker down rather than innovate during the pandemic could be targeted by savvy strategic and financial buyers once activity resumes.
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Profit increased 51% to $11 million.
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Profit increased 40.2% to $59.7 million.
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Profit for the year was $126 million, compared to $105 million in 2019.
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The company withdrew its full-year 2020 outlook on April 28, 2020, due to the uncertain impact of the COVID-19 pandemic and committed to provide monthly updates until it is better able to forecast future performance.
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Combined net sales for the fiscal months of March and April (the first two months of the Company's fiscal third quarter) were $565.4 million, a decrease of 7.8% compared to the same period in the prior fiscal year.
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The increase was mostly due to the acquisition of Ingersoll-Rand plcs Industrial segment by Gardner Denver Holdings, Inc. in February of 2020.
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Average daily net sales increased 0.2%.
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The company reported a loss for the quarter of $248.2 million, compared to a loss of $19.5 million during the first quarter of 2019.
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The decline reflected lower sales to the Vehicle market, partially offset by growth in Industrial and Medical, which included contributions from Dynamic Controls.
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Supply Technologies net sales declined 15% year-over-year and totaled $141 million compared to $165 million last year.
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