Heating, Air-conditioning & Refrigeration Distributors International (HARDI) reported that sales of HARDI-member distributors increased by 7.4% in March.

“This was a nice way to end the first quarter of the year,” Brian Loftus, HARDI Macroeconomic and Residential Market Analyst, said in a May 1 news release. “When we adjust the monthly results for the same number of billing days, the three-month average monthly sales growth was near 5% for each month this quarter.”

The annual sales growth for the 12 months through March is an increase of 3.3%.

The monthly sales survey also calculates distributor’s Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills.

“The DSO for March was 38 days which compares favorably to the past couple of years that were in the 41-to-42 day range,” Loftus said.

March was the last month of heating season, and the sales to inventory ratio indicates distributors in most regions are ready for cooling season.

“We start cooling season with deteriorating consumer sentiment and difficult cooling degree day comparisons in most regions during May and June,” Loftus said. “Cooling degree days are closer to normal or less than normal in most regions during July and August.”

HARDI member 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.