COLUMBUS, Ohio — Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors was an increase of 26.4% during August 2021.
The average annual sales growth for the 12 months through August 2021 is 18.7%.
“August was the sixth month this year with sales growth that exceeded 20%,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “Along with the continued underlying strong demand, this month was helped by an extra billing day, warmer than normal temps in five-of-seven regions, and passing through the price increases.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, was 40 days at the end of August 2021.
“Like July, the 40-day DSO is about four days quicker than this time of year before the COVID related business interruptions,” said Loftus.
The annual sales growth of 18.7% through August is a new record for HARDI distributor’s average annual growth rate.
“This record growth rate is a result of the easy comparison last year when sales were interrupted, followed by a demand jolt from the stimulus dollars, and then 8% to 10% from price increases that are being passed through,” said Loftus. “Next year will look much different.”