While down somewhat from its 4Q22 figures, Wesco posted more double-digit sales growth in 1Q despite harsh market headwinds.
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The industrial tools manufacturer also announced a new leader for its Tools & Outdoor segment.
The company's year-over-year daily sales growth accelerated after several months of decline, powered by sales to manufacturing customers.
MDM looks at another round of earnings reports from industrial distributors and manufacturers.
The decline in sales was primarily driven by a weak housing market that has plagued the building materials and construction industries for the past year.
The company reported 1Q 2023 gross profit of $98.4 million, down from the $107.8 million reported during the same quarter in 2022.
The industrial distributor's fiscal 3Q sales grew 5% year-over-year.
AD members saw their sales increase 6% year-over-year in 2023's first quarter.
The earnings call comes two weeks after Amazon said its Business segment was driving $35 billion in annualized gross sales by end of 2022.
MDM looks at another round of earnings reports from industrial distributors and manufacturers.
The increase reflected organic sales growth of 10.1% for the Swedish bearings manufacturer.
The industrial automation manufacturer saw explosive sales growth in 2Q compared to 1Q.
The change includes a 0.7% increase from acquisitions, offset by a negative 0.3% impact from foreign currency translation.
After a strong finish to 2022, Grainger maintained that momentum in 2023’s first quarter, according to its latest earnings report.
KCP sales rose 12% in the company's North America region in 1Q.
Following its record fiscal performance in 2022, Graybar again achieved record sales in 2023's first quarter.
The 6,000 impacted positions are in addition to the downsizing of 2,500 global manufacturing roles that 3M announced in January.
The company reported a 2% increase in sales over the same quarter in 2022 to a 'record' $1.55 billion.
Pool Corp experienced a decline in sales in 1Q 2023 due to seasonally unusual weather in some of its key markets.
The French electrical distributor said total 1Q 2023 sales across the globe increased 12.6% versus the same period last year.
