The company cited a persistent “broader ecosystem inventory correction” causing a challenging market.
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The organic gain outperformed compared to other industrial distributors in the July-September period.
Beacon set a company record for quarterly sales, with acquisitions largely driving year-over-year growth.
The company is set to enhance its presence in Louisiana with a new facility that is expected to create around 20 jobs.
It decelerated from 2Q, reflecting a downturn in private inventory investment and residential fixed investment.
The company reported volume growth in key specialty product categories, while price deflation impacted overall sales.
The company is anticipating a negative impact on sales from hurricanes Helene and Milton in its fourth quarter.
Sales in both its Electronic Components and Farnell business units declined by double digits.
The new facility is set to offer specialized handling for sensitive products available by early 2025.
The company attributed its decline in sales to a challenging demand environment and continued softness in its core customer base.
These reports deliver a wealth of wholesale distribution economic metrics and dealmaking analysis covering July-September.
Stoney Creek Hydraulics is a manufacturer of hydraulic and pneumatic cylinders and offers repair services to its customers.
The company attributed the profit decrease to continued investments in its business transformation.
The company's overall sales decrease was attributed to SBD's Infrastructure divestment earlier this year, and lower consumer demand.
He brings over 30 years of experience in sales management and technical expertise to the role.
F3 Aerospace is a manufacturer of structural aircraft components and assemblies.
QSC is a manufacturer of large, transformative audio, video and control solutions.
Orders rose 0.4% when excluding aircraft and autos.
The company enhanced its offerings across its business and marketplace with the addition of new products and supplier partnerships.
The company appointed a new executive VP, leveraging his extensive industry experience.
