COLUMBUS, Ohio — Average sales for Heating, Air-conditioning & Refrigeration Distributors International (HARDI) members increased 6.4 percent in April according to HARDI’s monthly TRENDS report. The average annualized growth for the last 12 months through April 2018 settled in at 6.6 percent.
“This April was a strange month,” said Brian Loftus, market research & benchmarking analyst, HARDI. “The regional sales performance ranged from a slight decline to a gain of more than 20 percent. Several of our regions were comparing unusually cool weather this year against unusually warm weather in the prior year. The region with the extraordinary gain experienced record warmth this year against a cool prior year.”
The current economic environment appears very positive for HARDI members,” said Connor Lokar, senior economist, HARDI.
“U.S. industrial production during the 12 months through April is up 2.6 percent compared to one year ago,” he said. “Growth during the most recent three months topped 4 percent compared to the same three months through April a year ago. This is the first time quarterly growth has topped 4 percent in seven years.”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, approached 49 days, said Loftus.
“This is slightly faster than April 2015 or April 2016,” he said. “This improving trend is consistent with the recent monthly DSO performance.”
HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. 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.
For more information, visit www.hardinet.org.
Publication date: 06/01/18