Five years ago, the Top 50 HVACR Distributors survey revealed that 96 percent of respondents had achieved increases in their HVACR sales in the latest fiscal year. This year’s survey nearly matched that phenomenal growth, with 95 percent of all respondents reporting increased HVACR sales.
MIAMI — Watsco Inc. has announced its board of directors has approved a 19 percent increase in its annual dividend to $5.00 per share on each outstanding share of its Common and Class B common stock. The increase will be reflected in the company’s next regular dividend payment beginning in July 2017.
Grainger recently held its annual shareholder meeting in Lake Forest, Illinois. Grainger Chairman Jim Ryan presided over the meeting and Chief Executive Officer D.G. Macpherson provided an update on the state of the business and offered a recap of 2016 full-year and 2017 first-quarter performance.
The percentage of HVACR distributors who reported sales increases in fiscal year 2016 was the highest since fiscal year 2013, when 96 percent enjoyed higher sales. In fiscal year 2014, 75 percent saw a rise in sales; while 2015 brought an additional rise to 77 percent. The 90 percent of distributors who said their 2016 HVACR sales were up reported an average increase of 10.4 percent compared to 2015.
Total HVACR sales represented by the Top 50 Distributors each year have steadily increased. In 2012, they accounted for more than $10.3 billion (fiscal year 2011); this rose to more than $11.5 billion in 2013, $12.8 billion in 2014, and $13.8 billion in 2015. This year, the top 50 represented $14.8 billion in sales for fiscal 2015.
Last summer, HARDI held a casting call for the industry’s top performers and rising stars younger than 40 years of age. HARDI members across the country nominated the top talent among wholesalers, manufacturers and affiliated vendors to create the first-ever list of HARDI’s best and brightest.
As the old saying goes, “Beauty is in the eye of the beholder.” When it comes to websites, Google is hands down the biggest beholder out there. If the search engines like what they see, they will show it to others.
In this issue, we cover ductless products for the commercial market. We also look at alternative refrigerants and trends in R-22 reclamation. Other topics include a summer forecast, business franchises, and more.
Check back for additional content throughout the week.