Heating, Air-conditioning and Refrigeration Distributors International reported a 4.3 percent sales increase for September. The annualized growth through August is 6.3 percent.
“The modest growth was not unexpected,” said Brian Loftus, HARDI's market research and benchmarking analyst. “We have put together two or three strong months and the current results were being compared to a 15 percent gain last year.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now at 4.35.