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.”

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