HVACR distributors that are members of Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) saw sales increase 4.5% month-over-month during April, according to HARDI’s latest TRENDS report issued June 2. It follows a 5.4% gain in March.
On a trailing 12-month basis, annual sales growth through April was 2.8%, decelerating from the 3.3% of a month earlier.
“April is the first month of cooling season and this year began with above normal temps in more than half the country,” HARDI Senior Market Analyst Brian Loftus said about the figures. “Our warmest region had sales growth near 20% for April while sales dipped by almost 5.5% in the region with below normal temps.”
The monthly HARDI members sales survey also calculates Days Sales Outstanding, which is a measure of how quickly customers pay their bills. HARDI said the DSO for April was less than 38 days — in line with a year ago and essentially identical to March.
“End market customers appear stable,” Loftus. said “The April DSO has been steady the past couple of years and a bit quicker than April of 2022 through April of 2024.”
“Distributor sales growth remains subdued along with flat existing home sales, a weak job market and higher inflation,” Loftus continued. “We are rooting for a successful selling season to trim the inventory levels, which will allow the sales-to-inventory ratio to get back to normal by football season.”
HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.
