Tough times continued for Applied Industrial Technologies in the company’s fiscal first quarter; the company’s sales dipped 12.7% and profit fell 10.3%.
Eric Smith
Senior Editor Eric Smith is an award-winning business journalist whose coverage focus includes economic news and insights, industry trends, M&A, and analysis of small businesses and public companies across the wholesale distribution marketplace. Reach him at eric@mdm.com or 720-207-0335.
Posts By Eric Smith
Systemax, the parent of Global Industrial, reported profit nearly doubled to $24.1 million as the company notched all-time highs in quarterly operating profit and operating margin.
Bearings manufacturer sees sales drop 14.7% in first nine months of 2020 as soft demand environment continued to hit the company’s top-line performance.
Health care sales were strong with 25.5% growth, while safety and industrial group sales of $3 billion were up 6.9%.
Increase of manufactured durable goods is the fifth in a row following the double-digit growth in May, high-single-digit growth in June, double-digit growth in July and low-single-digit growth in August — all of which had been preceded by two decreases during the height of the coronavirus crisis.
Industrial distributor’s sales decline 11.3% in the fiscal fourth quarter ended Aug. 29 compared to year-ago period while profit dips 21.2%.
Latest Chicago Fed National Activity Index (CFNAI) shows that three of four broad categories of indicators used to construct the index made positive contributions in September, but all four categories decreased from August.
After Grainger posted a moderate improvement in the third quarter, company executives dished on the distributor’s approach to acquiring new customers and how it is bolstering the company. Here's what they shared.
The market appears to be experiencing a quicker turnaround from the pandemic-induced downturn than originally expected.
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Latest report shows U.S. cutting tool consumption down 0.2% from previous month of July, while year-to-date total is down 23.4% from same period of 2019.
Fasteners manufacturer and distributor Optimas Solutions enhances PPE and MRO product distribution with 30,400-square-foot facility.
Genuine Parts Co., the parent of Motion Industries, reported that the distributor’s 3Q sales of $1.4 billion were down 18.6% year-over-year, or down 8.7% excluding the EIS divestiture.
In addition to setting a revenue record of $1.1 billion, the pool supply distributor saw profit increase nearly 50% for the quarter.
Fargo, N.D.-based electrical distributor Border States Electric unveils new regions designed to “better serve customers and support manufacturers.”
Year-to-date sales grow 5.5% from same period in 2019 as company posts profit growth for both the quarter and the first nine months of 2020.
Industrial distributor Grainger says its U.S. segment sales were up 3.1%, outgrowing the U.S. MRO market which declined an estimated 5% to 6%.
Safety products manufacturer SureWerx, Vancouver, B.C., has acquired Geroline Inc., the St. Catharines, Ontario-based company behind the K1 Series brand of winter traction aids.
Indian River Consulting Group’s (IRCG) weekly Pandemic Revenue Index for the work week of Oct. 12 to Oct. 16 indicated a 2.6% increase compared with the same week a year ago.
After being acquired by a private equity firm and combined with Construction Supply Group, White Cap is now a $4 billion building materials distribution juggernaut. Where will the company rank among MDM's Market Leaders?
Housing starts also up compared to year-ago period and the previous month, according to the latest residential construction report from the U.S. Census Bureau.
