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New South Construction Supply said an agreement to acquire American Contractor’s Supply has been dissolved.
The distributor reported 2022 first-quarter net sales of $5.7 billion, while net income grew 270.6% to $639.6 million.
Sales for the quarter were $319.4 million, compared to $245.6 million for 1Q 2021 and $293.1 million for 4Q 2021.
The distributor reported 2022 first-quarter gross profit of $136 million, compared to $103 million during the same quarter in 2021.
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The company says 2022 first-quarter revenue was $3.1 billion and net income from continuing operations attributable to Fluor was $48 million.
The Colorado-based company named Sean J. Kerins president and CEO and posted 1Q sales of more than $9 billion.
The distributor says Steven Breeden has been named district vice president for the company’s Seattle District effective July 1.
The industrial distributor reported 2022 first-quarter revenue of $439.5 million, up from $387.1 million in 1Q 2021.
