The 2020 Mid-Year Economic Update_long

Interline Brands Sales Up 4.9% in 2Q

Year-to-date sales up 4 percent year-over-year.

Interline Brands Inc., Jacksonville, FL, distributor and direct marketer of broad-line maintenance, repair and operations products to the facilities maintenance end-market, reported sales for the second quarter of $425.5 million, up 4.9 percent year-over-year. The company reported a loss of $38.6 million, compared to a profit of $1.2 million in the second quarter of 2013.

"Momentum continued throughout our business during the second quarter driven by the execution of our strategic growth initiatives as well as healthier fundamentals in our key end-markets," said CEO Michael Grebe. "Importantly, we generated higher levels of growth across all of our end-markets during the second quarter, demonstrating recovery from the weather-related impacts in early 2014."

Sales to institutional facilities customers, comprising 50 percent of sales, increased 5.8 percent for the quarter. Sales to multifamily housing facilities customers, comprising 31 percent of sales, increased 5.9 percent for the quarter. Sales to residential facilities customers, comprising 19 percent of sales, increased 2 percent for the quarter.

Year-to-date sales were $818 million, up 4 percent over the prior-year period. The company reported a loss of $44.7 million in the first six months of the year, compared to a loss of $308 thousand in the prior-year period. For the first half of the year, sales to institutional facilities customers, multi-family housing facilities customers and residential facilities customers increased 4.4 percent, 5.5 percent and 1.3 percent, respectively.

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