Below is a rundown of how public companies in distribution performed during the third quarter (or fiscal quarter or full fiscal year, in some cases). The list includes companies across a variety of verticals and includes some manufacturers pertinent to the distribution space.
Click the company name for more details on their quarterly earnings, including year-to-date performance. In select recaps, look for links to separate blogs that provide deeper analysis on their quarter.
Here’s how companies performed in the July-September quarter:
3M (NYSE: MMM) — The St. Paul, Minnesota-based company reported third-quarter sales of $8.4 billion, a 4.5% increase compared to the third quarter of 2019. Profit was $1.4 million, a 10.7% decrease compared to the prior year.
Applied Industrial Technologies Inc. (NYSE: AIT) — The Cleveland-based distributor reported fiscal first-quarter sales of $747.8 million, down 12.7% compared to a year ago. Net income for the quarter was $34.8 million, down 10.3% from the prior-year period. Read more in our blog, Applied’s Acquisition Strategy Key to Lofty Revenue Goal.
Arrow Electronics Inc. (NYSE: ARW) — The Centennial, Colorado-based electronics distributor reported third-quarter sales of $7.2 billion, up 2% compared with the third quarter of 2019. Net income of $166.1 million was up 80.2% from the year-ago quarter.
Avnet Inc. (Nasdaq: AVT) — The Phoenix-based electronics distributor reported sales for the fiscal first quarter of $4.7 billion, a 2% increase from the same period a year ago. The company reported a loss for the quarter of $18.9 million, compared to a profit of $41.8 million in the year-ago quarter.
Beacon Roofing Supply Inc. (Nasdaq: BECN) — Beacon announces its fiscal fourth quarter and 2020 earnings on Nov. 19.
Bluelinx Holdings Inc. (NYSE: BXC) — The Atlanta-based building materials distributor reported sales for the third quarter of $871 million, an increase of 28.3% year-over-year. The company reported a profit of $55.1 million, compared to a loss of $7 million in the prior-year quarter.
BMC Stock Holdings Inc. (Nasdaq: STCK) — The Raleigh, North Carolina-based building materials distributor reported sales for the third quarter of $1.1 billion, an increase of 13.1% compared to the year-ago period. The company reported a profit for the quarter of $44.9 million, up 33.6% from the same quarter a year ago.
Builders FirstSource Inc. (Nasdaq: BLDR) — The Dallas-based building materials distributor reported third-quarter sales of $2.3 billion, a 15.9% increase from the same quarter a year ago. Profit of $85.9 million was a 10% improvement from 3Q 2019.
DXP Enterprises Inc. (NASDAQ: DXPE) — The Houston-based MRO and industrial distributor reported third-quarter sales of $220.2 million, down 32.7% compared to the third quarter of 2019. The company reported a loss of $34.7 million, compared with a profit of $13.1 million in the year-ago period.
Fastenal Co. (Nasdaq: FAST) — The Winona, Minnesota-based fasteners and industrial distributor reported third-quarter sales of $1.4 billion, a 2.5% increase compared with the same period a year ago. Quarterly profit was $221.5 million, a 3.7% increase compared to the year-ago period. Read more in our blog, Why Fastenal is ‘Optimally Positioned’ to Take Share.
Foundation Building Materials Inc. (NYSE: FBM) — The Tustin, California-based building materials distributor reported sales for the third quarter of $521.3 million, a decrease of 7.7% compared to the prior-year period. Profit was $11.8 million, down 7.1% from the previous year’s quarter.
Genuine Parts Co. (NYSE: GPC) — The Atlanta-based company reported sales from continuing operations of $4.4 billion, a 3.4% decrease compared to $4.5 billion in the same period of the prior year. Its subsidiary, Motion Industries — what GPC calls its “industrial parts group” — reported third-quarter sales of $1.4 billion, down 18.6% year-over-year, or down 8.7% excluding the EIS divestiture, and represented 32% of total GPC revenues.
HD Supply Holdings Inc. (Nasdaq: HDS) — We expect HD Supply to report fiscal third-quarter earnings in early December.
Huttig Building Products Inc. (Nasdaq: HBP) — The St. Louis-based building materials distributor reported third-quarter sales of $212.7 million, a 1.4% decrease over the prior-year period. The company reported a profit of $6.1 million for the quarter, up from $1.6 million in the third quarter of 2019.
Lawson Products Inc. (Nasdaq: LAWS) — The Chicago-based MRO industrial distributor reported third-quarter sales of $90.3 million, down 4.7% compared to the 2019 third quarter. Net income of $1.7 million was down from $4.8 million in the year-ago period.
MRC Global Inc. (NYSE: MRC) — The Houston-based pipes, valves and fittings distributor reported third-quarter sales of $585 million, down 38% from the same period a year ago. The company reported a loss of $3 million, compared to a profit of $15 million last year.
MSC Industrial Supply Co. (NYSE: MSM) — The Melville, New York-based industrial distributor reported sales for the fiscal fourth quarter ended Aug. 29 of $747.7 million, down 11.3% over the same quarter in 2019. Profit fell 21.2% to $52.5 million.
NOW Inc. (NYSE: DNOW) — The Houston-based distributor reported sales for the third quarter of $326 million, a 56.6% decrease from the same period a year ago. The company reported a loss of $22 million, compared to a profit of $10 million a year ago.
Pool Corp. (Nasdaq: POOL) — The Covington, Louisiana-based wholesale distributor of swimming pool and related backyard products reported third-quarter sales of $1.1 billion, up 26.8% from a year ago. Profit increased 49.8% to $119.1 million.
SiteOne Landscape Supply Inc. (NYSE: SITE) — The Roswell, Georgia-based reported sales for the third quarter of $751.9 million, up 15% from the same period a year ago. Net income increased 39% to $48.2 million.
United Rentals Inc. (NYSE: URI) — The Stamford, Connecticut-based company reported third-quarter sales of $2.2 billion, down 12.1% compared to a year ago. Profit of $208 million was down 46.8% compared with a year ago.
Watsco Inc. (NYSE: WSO) — The Miami-based HVACR distributor reported third-quarter sales of $1.5 billion, up 10.2% year-over-year. Profit increased 27.6% to $106.5 million, and diluted EPS of $2.76 was up from $2.40 a year ago and beat analysts’ estimates by 27 cents.
WESCO International Inc. (NYSE: WCC) — The Pittsburgh-based electrical distributor reported third-quarter sales of $4.1 billion, up 93% from the same period a year ago due to recent acquisition Anixter International Inc.’s financials now being included in the earnings report. The company reported a profit of $66.2 million, down slightly from a profit of $64.5 million in the year-ago period.
W.W. Grainger Inc. (NYSE: GWW) — The Chicago-based industrial distributor reported third-quarter sales of $3 billion, up 2.4% compared to the year-ago quarter. Grainger’s profit increased 3% to $240 million. Read more in our blog, Behind Grainger’s Customer Acquisition Strategy.
*Not all public distributors or companies relevant to the distribution space are included in this roundup. We will continue to build out this list in the coming quarters.
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