Continued strong sales growth means the third quarter will likely be another windfall fiscal period for most industrial distributors.
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Sales were up at least 20% year-over-year in all four of the company’s key product categories, though gross margin took a dip.
The home improvement company also reported 2022 second-quarter earnings of $3 billion, in line with prior-year results.
The home improvement company said its year-over-year second-quarter sales increased 6.5%, or $2.7 billion.
The Dublin, Ohio-based company also reported fiscal 2022 fourth-quarter revenue of $47.1 billion, an 11% annual increase.
The Phoenix-based global technology solutions provider also reported fiscal 2022 4Q sales of $6.4 billion.
The Cleveland, Ohio-based company also says that full-year sales reached $3.8 billion, up 17.8% over last year.
Distribution Solutions Group had its inaugural earnings report following the April 1 merger of Lawson Products, TestEquity and Gexpro Services.
The PVF products distributor saw its best adjusted EBITDA margin since 2014 amid double-digit growth in each of its end-market sectors.
It was a notable acceleration from the building products distributor's 1Q growth, achieving company records in sales, profit and profit margin.
A month-to-month acceleration in daily sales bodes well for fellow industrial distributors large and small.
Major distributors and manufacturers continue to raise their full-year outlook after better-than-expected 2Q results and persistent demand.
June 22 marked the 2-year anniversary of Wesco's landmark acquisition of Anixter International, which continues to drive major sales gains.
As evidenced by the latest round of quarterly earnings reports, some industrial distributors and manufacturers still see year-to-year growth.
France-based electrial supplies giant Rexel said 2022 first-half U.S. performance was sustained by growth in all three of its end markets, especially in industrial.
Core organic sales comprised half of the distributors' 24% sales growth year-over-year.
Sales outpaced that of 1Q at the industrial distribution giant, despite slowing throughout the quarter.
The online retail giant, which doesn’t break out Amazon Business sales in quarterly earnings reports, said overall net loss was $2 billion in 2Q.
In the latest earnings reporting period for publicly-traded companies, these distributors and manufacturers reported strong sales figures.
It's part of the toolmaker's plan to save $1.5 billion in three-year cost savings while shifting resources and reprioritizing investments.
