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The worldwide construction equipment manufacturer also reported 2021 fourth-quarter sales were up 23% over the same period a year prior.
The U.S. economy grew in the fourth quarter, but investment in nonresidential structures decreased at an annual rate of 11.4%.
The automation company reported $1.857 billion in sales for its fiscal 2022 first quarter, 18.7% above the same period a year prior.
The Ohio-based distributor reported fiscal 2022 second-quarter net sales of $876.9 million and a net income of $57 million.
Real GDP increased at an annual rate of 6.9% in the fourth quarter of 2021, according to the Bureau of Economic Analysis.
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The company’s 2022 fiscal second-quarter sales were $5.9 billion, up from $4.7 billion the year before and ‘exceeding guidance.’
The New Jersey-based full-line supplier has acquired State Industrial Supply Company, an industrial distributor headquartered in Seymour.
The construction supply company opened a branch in the city of Westbrook, the first in Maine and 16th branch overall.
The industrial automation and digital transformation company says Gina Ayala Claxton is its new president for the Americas Region.
