It suggests that broader demand for industrial and construction supplies remains subdued heading into 2024's closing months.
Latest In Operations
The Composites and Fuel Containment Division manufactures composites, fuel tanks and bladders across six U.S. and Mexico-based facilities.
Each of DXP's three business segments likewise improved year-over-year and sequentially.
The company also announced a new board chair, effective immediately.
TopBuild is also set to acquire New York-based thermal insulation supplier Shannon Global Energy Solutions.
Hillman Solutions reported a slight dip in 3Q sales but saw considerably improved margins.
The distributor also announced the pending March succession for its CFO position.
The year-over-year sales decline widened from that of 2Q24, driven by weaker Multi-Family results.
Optimum was a top customer whose contract expired at the end of June. Excluding that, 1Q sales saw double-digit annual growth.
The company raised its outlook for operating margins, driven by strong performance in its Aerospace Systems segment.
Acquisitions earlier in 2024 and prior accounted for a healthy annual sales gain, emphasizing the strategic expansion of its customer base.
Meanwhile, the bearings maker posted its 3Q results, made an Australasia acquisition and updated on its Automotive separation.
The company's WIS unit sale earlier this year drove most of its overall sales decline, while its CSS segment powered narrow organic growth.
The company cited a persistent “broader ecosystem inventory correction” causing a challenging market.
The organic gain outperformed compared to other industrial distributors in the July-September period.
Beacon set a company record for quarterly sales, with acquisitions largely driving year-over-year growth.
The company reported volume growth in key specialty product categories, while price deflation impacted overall sales.
The company is anticipating a negative impact on sales from hurricanes Helene and Milton in its fourth quarter.
Sales in both its Electronic Components and Farnell business units declined by double digits.
The company attributed its decline in sales to a challenging demand environment and continued softness in its core customer base.
