It was another quarter of double-digit sales and profit gains for the industrial supplies distributor, which saw softening demand and tougher year-over-year comparables.
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Changes include the appointment of Andrew G. Long as EVP, CEO, products & healthcare services segment, replacing Jeffrey T. Jochims.
That strong growth was aided by an additional billing day vs. a year ago.
The world’s largest plumbing products distributor saw 21.4% growth in the May-July period.
The company's June-August revenue increased slightly on higher fees, while profits fell considerably.
The MRO products giant's annual Investor Day event outlined the company's three-year performance projections, which include continued strong sales growth.
The distributor of electrical, data and security products celebrated its centennial with an eventful Sept. 7 that shared a 'New Wesco' vision going forward. Get the details here.
The St. Louis-based company said fiscal 2022 second-quarter sales rose to $1.86 billion for the period ending July 31.
Continued strong sales growth means the third quarter will likely be another windfall fiscal period for most industrial distributors.
Sales were up at least 20% year-over-year in all four of the company’s key product categories, though gross margin took a dip.
The home improvement company also reported 2022 second-quarter earnings of $3 billion, in line with prior-year results.
The home improvement company said its year-over-year second-quarter sales increased 6.5%, or $2.7 billion.
The Dublin, Ohio-based company also reported fiscal 2022 fourth-quarter revenue of $47.1 billion, an 11% annual increase.
The Phoenix-based global technology solutions provider also reported fiscal 2022 4Q sales of $6.4 billion.
The Cleveland, Ohio-based company also says that full-year sales reached $3.8 billion, up 17.8% over last year.
Distribution Solutions Group had its inaugural earnings report following the April 1 merger of Lawson Products, TestEquity and Gexpro Services.
The PVF products distributor saw its best adjusted EBITDA margin since 2014 amid double-digit growth in each of its end-market sectors.
It was a notable acceleration from the building products distributor's 1Q growth, achieving company records in sales, profit and profit margin.
A month-to-month acceleration in daily sales bodes well for fellow industrial distributors large and small.
Major distributors and manufacturers continue to raise their full-year outlook after better-than-expected 2Q results and persistent demand.
