HVACR distributors that are members of Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) saw sales increase 10.4% month-over-month during March according to HARDI’s latest TRENDS report issued May 6, with same-day sales closer to 5.4% given that March 2026 had one additional selling day vs. a year earlier.
That latter figure would still be ahead of February’s 4.6% monthly gain, marking an acceleration either way.
On a trailing 12-month basis, annual sales growth through March was 3.3% — up from the 2.4% through February.
“March was the last month of heating season and the temps were well below normal in most of the country,” said Brian Loftus, Senior Market Analyst at HARDI. “That may have allowed some construction activity to begin early. The sales-to-inventory ratio indicates distributors are planning for a busy cooling season.”
The monthly HARDI members sales survey also calculates distributor’s Days Sales Outstanding, which is a measure of how quickly customers pay their bills. HARDI said the DSO for March was near 38 days — in line a year ago and identical to February.
“It looks like subdued market activity is helping to keep the DSO contained,” Loftus added. “It dipped below 40 days not long after the annual growth rate dipped below 5%.”
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.
