“April is the first month of cooling season, and this year began with above-normal temps in more than half the country,” said Brian Loftus, senior market analyst at HARDI, in a press release. “Our warmest region had sales growth near 20% for April while sales dipped by almost 5.5% in the region with below-normal temps.”

HARDI’s sales survey also documents Days Sales Outstanding, or DSO, a measure of how quickly customers pay their bills. The average DSO for April was less than 38 days, similar to the previous April.

“End-market customers appear stable,” said Loftus. “The April DSO has been steady the past couple of years and a bit quicker than April of 2022 through April of 2024. 

“Distributor sales growth remains subdued along with flat existing home sales, a weak job market, and higher inflation,” Loftus continued. “We are rooting for a successful selling season to trim the inventory levels which will allow the sales-to-inventory ratio to get back to normal by football season.”

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.