Heating, Air-conditioning and Refrigeration Distributors International reported a 12 percent sales increase for June. The annualized growth through June is 5.3 percent. This rate has been declining since last fall but the latest report is a slight improvement from May.
“The weather was challenging for HVACR sales for much of the country in May,” said HARDI Market Research and Benchmarking Analyst Brian Loftus. “June caught some of that delayed activity and had one extra billing day than June of 2014.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now at 49. “The DSO is tracing its normal seasonal pattern,” said Loftus. “It peaked in April in the low 50s and is measuring as expected with this latest report.”