HARDI Distributors Report Revenue Increase
Annualized Growth 6.6 Percent Through June 2014, According to Report
COLUMBUS, Ohio — The average sales growth for reporting HVACR distributor members increased by 10.1 percent in June 2014, according to a trends report released by Heating, Air-conditioning, and Refrigeration Distributors International (HARDI). The annualized growth through June was 6.6 percent.
“The double-digit growth in June looks impressive, but it was helped by one extra billing day this year versus a modest 5.9 percent growth reported in June 2013,” said Brian Loftus, market research and benchmarking analyst, HARDI. “June and July are the busiest months of the year for HARDI members, so the double-digit growth achieved in six of our seven regions was welcome news after the subdued performance in April and May.”
“Consumer spending increased by 4.9 percent in the second quarter compared to 2013. However, when adjusted for inflation, the actual spending increase is only 3.8 percent,” said Andrew Duguay, senior economist, HARDI. “This level of spending is healthy, but this is noticeably slower than the 4-5 percent achieved through most of last year.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, declined to 49 days. This is comparable to the prior year and consistent with the seasonal pattern that has formed since the end of the Great Recession.
Publication date: 9/1/2014