HARDI Distributors See 9% Revenue Increase in January - Modern Distribution Management

Log In

HARDI Distributors See 9% Revenue Increase in January

The figure was boosted by an additional billing day, but the month was still a considerable rebound when excluding that factor.
HARDI logo

Heating, Air-conditioning & Refrigeration Distributors International (HARDI) shared its monthly TRENDS report on March 5, showing that January sales by member distributors increased by 9% year-over-year.

Boosted by an additional billing day vs. a year earlier, it was a sharp rebound a 7.8% monthly decrease during December and marked a strong start to 2024.

On an annual basis, the growth rate for the 12 months through January 2024 was 0.2%, likewise a reverse from the -0.3% through December.

“9% sales growth is a nice change from the 7% decline during December,” said HARDI Macroeconomic & Residential Market Analyst Brian Loftus. “With the same number of billing days we estimate the sales growth was closer to 4%.”

The Days Sales Outstanding — which measures how quickly customers pay their bills — was near 42 days during January. 

“We hear of additional stress in the marketplace, but there is not enough to inflame the Days Sales Outstanding for the industry,” Loftus added. “The January 2024 DSO was a bit better than January of 2023 and January of 2022. The performance is impressive after the rapid increase in rates and market adjustment during the past year.” 

“It looks like we are in a different world now with no sales growth after 20% annual sales gains not that long ago,” Loftus continued. “Flat sales mean comparable to the boomtimes of a year ago. This is just the next phase of the normalization process. We expect to be back in normal growth territory during the back half of this year.”

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.