HARDI Distributors Report 15.4 Percent Revenue Increase in July
Average annualized growth for the last 12 months settled in at 7.6 percent
COLUMBUS, Ohio — Average sales for Heating, Air-conditioning & Refrigeration Distributors International (HARDI) members increased 15.4 percent in July 2018 with an average annualized growth of 7.6 percent for the last 12 months, according to the associations’ monthly TRENDS report.
Brian Loftus, market research and benchmarking analyst, HARDI, called this a positive report in a seasonally important month.
“The 15 percent was helped by an extra billing day and easy prior year comparison,” he said. “We estimate the gain was in the 10-11 percent range if adjust for the extra billing day.
“The results this summer reflect the healthy and stable economy,” Loftus continued. “After 94 consecutive months of job growth, consumer confidence is coasting at a very high level consistent with a high level of replacement activity. It’s sad to realize the last time unemployment was this low was also the last time our government was generating a budget surplus.”
Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, spiked up with the strong sales this past spring. The action was temporary, and the DSO is back to normal for this time of year near 44 days.
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/benchmarking.
Publication date: 09/03/18