The 2020 Mid-Year Economic Update_long

HD Supply Sales Up 10% in Second Quarter

All four major business segments posted sales increases for the quarter.

Atlanta, GA-based HD Supply Holdings, Inc. (Nasdaq: HDS), No. 3 on MDM's list of top industrial distributors, reported sales for the second quarter ended Aug. 4 of $2.3 billion, up 10 percent over the same period a year ago. The industrial distributor recorded a loss for the period of $72 million, compared to a year ago loss of $56 million.

The current loss includes a $46 million loss on the extinguishment and modification of debt.

For the first six months of the fiscal year, sales were $4.3 billion, up 11 percent year-over-year. Net loss was $203 million, compared with a loss of $416 million a year ago.

"We continue to deliver above market revenue growth in all of our primary business units," CEO Joe DeAngelo said. "The fiscal 2013 second quarter was another strong performance for HD Supply despite limited non-residential and municipal end market growth in addition to unusually cooler and wetter weather affecting outdoor construction and HVAC product sales in various parts of the country."

Net sales for the Facilities Maintenance business unite increased 12 percent to $638 million in the second quarter. Organic sales grew 9 percent.

Waterworks  sales increased 14 percent to $601 million in the second quarter. Organic sales grew nearly 10 percent.

Power Solutions sales increased 4 percent to $456 million in the second quarter.

White Cap sales increased 9 percent to $336 million in the second quarter.

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