Cheney significantly expands PFG's presence in the Southeast U.S., along with a Puerto Rico distributor acquired in July.
Latest In Earnings
The company totaled $227 billion in 2024 sales, up 11% annually.
The distributor’s full-year total sales increased 1.5% year-over-year, while 4Q sales remained flat.
The company’s organic sales declined by 3.3% year-over-year, while SRS Distribution contributed $1.3 billion in 2Q net sales.
The distributor’s recent acquisition of Snap One accounted for $45 million of the company’s 2Q sales of $959 million.
Gross margin and adjusted EBITDA likewise both improved year-over-year.
The distributor said recovery from the fall 2023 cyberattack has been slower than expected, which continues to weigh on sales growth.
The company’s total 2Q sales fell 3.1% — which improved sequentially from a 6.5% decline in 1Q.
Sales sequentially decelerated in 4Q during what the company cited as challenging market conditions.
DNOW delivered $50 million in EBITDA on 7.9% in 2Q, a subtle increase from the year earlier.
The company's U.S. sales fell 7% year-over-year during 2Q.
Distribution segment volume, price and M&A each increased year-over-year, though volume was less than anticipated.
Year-over-year sales declined by 1.6% after an increase in 1Q sales and organic growth.
Hilman promotes John Micheal Adinolfi to CEO, effective Jan. 1 of next year.
Growth continued to slide across all geographies, product segments and customer end markets.
Net profit declined in 2Q, which the company partly attributed to its ongoing strategic transformation project.
Beacon said pricing and organic volumes drove about 3% combined sales growth during the quarter.
Rexel reported sales in North America remained flat with some improvement, offset by challenging market activity in Europe.
The company said customer destocking and the delay of capital projects clearly impacted its 2Q results.
As expected, DSG's organic sales declined compared to a year ago but sequential improvement was driven by increased sales in many end markets.
