The 2020 Mid-Year Economic Update_long

Interline Brands Sales Up 5.2% in 2Q

Year-to-date sales up 5.1 percent from same period in 2014.

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 $447.7 million, up 5.2 percent year-over-year. The company reported a profit of $3.9 million, up from a loss of $38.6 million in the second quarter of 2014.

The quarterly earnings report was released about a week after the company recently announced it would be acquired by The Home Depot.

"As we embark on our new partnership with The Home Depot, we are excited about the enhanced capabilities and services we will be able to offer our customers," said CEO Michael J. Grebe. "By partnering with an industry leader, we believe we can offer a compelling solution that is truly unique in our industry – the ability to provide our customers with the maintenance, repair, and operations products and services they require, whenever and wherever needed."

Sales to institutional facilities customers, comprising 51 percent of sales, increased 3.6 percent for the quarter. Sales to multifamily housing facilities customers, comprising 30 percent of sales, increased 10.7 percent for the quarter. Sales to residential facilities customers, comprising 19 percent of sales, increased 2.1 percent for the quarter.

Year-to-date sales were $859.5 million, up 5.1 percent over the prior-year period. The company reported a profit of $0.2 million, up from a loss of $44.7 million in the prior-year period.

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