HARDI Distributors' July Revenue Growth Slowed to 16.8% - Modern Distribution Management

HARDI Distributors’ July Revenue Growth Slowed to 16.8%

Average annual sales growth by participants had been in the 24-25% range since January.

On Sept. 1, Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors was an increase of 16.8% percent during this past July. The average annual sales growth for the 12 months through July is 24.3% percent.

“July 2022 had one less billing day and a difficult weather comp for most regions but continues to benefit from the aggressive price increases that have been passed through,” HARDI market research & benchmarking analyst Brian Loftus said.  “What goes up must slow down and this cycle has clearly peaked.  The average annual sales growth by participants has been in the 24% to 25% range since January.”

The Days Sales Outstanding, a measure of how quickly customers pay their bills, was 40 days at the end of June 2022.

“The June 2022 DSO is comparable to June 2020 and 2021,” Loftus said.  “The pre-COVID DSO for June was closer to 45 days.”

HARDI noted that the job market is strong. but other leading indicators for the HVACR industry like consumer sentiment, housing permits and existing home sales are not as encouraging.

“Inflation has been in the news and in our industry also,” Loftus added.  “The annual increase for the HVACR primary products price index has been near 25% since April and helping to support distributor’s sales growth.”

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!

2

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

1

article
left

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.