Distributors Report Nearly 6% January Sales Drop
COLUMBUS, Ohio — January sales among distributors that participate in the monthly Heating, Air-conditioning & Refrigeration Distributors International (HARDI) sales survey declined by an average of 5.9%.
“A sales decline of more than 5% is a disappointing way to start the year, but this year has one less billing day than January of 2025,” said Brian Loftus, HARDI’s macroeconomic and residential market analyst. “We estimate the sales decline would have been closer to 1.4% with the same number of billing days.”
Sales for the 12-month period through January increased by 2.3%.
The monthly sales survey also calculates distributors’ Days Sales Outstanding, a measure of how quickly customers pay their bills. “The DSO for January was 39.4 days versus the 43-day area for January 2022, 2023, and 2024,” said Loftus. “The recent DSO trends are not raising any red flags, which is a relief after the Fed has cut rates six times during the past eighteen months.
“The early months of the year are the sleepy time for our industry, where demand has been treading water,” Loftus continued. “There have been some early signs that the rate cuts are helping to wake our economy. Hopefully those economic green shoots keep growing, like seeing leaves on trees during the next couple of months.”
HARDI members do not receive financial compensation in exchange for monthly sales data and can discontinue participation in the survey 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, which can include sales information about products not directly associated with the HVACR industry.
Looking for quick answers on air conditioning, heating and refrigeration topics? Try Ask ACHR NEWS, our new smart AI search tool. Ask ACHR NEWS
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
