Ferguson’s U.S. region posted ongoing revenue growth of 3.2% and underlying trading profit growth of 11.3% in the first quarter of fiscal 2021.
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During the quarter ended Nov. 1, HD Supply completed the sale of its construction and industrial business to a private equity buyer for $2.8 billion.
The dividend is payable Dec. 31, 2020, to shareholders of record at the close of business on Dec. 17, 2020.
Go behind the scenes of Ferguson and Grainger, learn what’s driving building material M&A, discover the distribution leaders of tomorrow and see what Amazon does better than anyone by checking out MDM’s most-read blogs from last month.
Building materials distributor Beacon Roofing Supply also reported that fourth-quarter revenue of $2 billion marked a 0.6% decline from the same period in 2019.
Lowe’s also posts a profit of $692 million as the company continues to ride the wave of home improvement growth amid the COVID-19 pandemic.
How did the public distributors (and manufacturers relevant to this space) perform in the calendar third quarter? Our recap provides highlights of their revenue and earnings results.
MRO and industrial distributor DXP Enterprises Inc. posts a loss of $34.7 million in the quarter as the company continues to see challenges stemming from COVID-19.
In its second earnings report since completing the $4.5 billion acquisition of Anixter International Inc. but first to include the new addition's full financials, WESCO recorded a 93% sales jump and a $66.2 million profit.
NOW Inc., which reported a loss of $22 million for the quarter and a loss of $383 million for the first nine months of 2020, saw sales sink more than 50% in 3Q.
Average daily net sales decreased 9.2% and profit was down 7.1% for the building materials distributor in the third quarter.
Building materials distributor BMC Stock Holdings announced during the period that it was merging with Builders FirstSource in a mammoth $2.5 billion deal.
Strategic activity from leading distributors like Ferguson, Grainger and Fastenal led to the most-read blogs of October 2020.
Bearings manufacturer RBC Bearings sees profit sink 34.8% in the second quarter of fiscal 2021.
Year to date, sales decreased 31.6% as the company reports a loss of $287 million through the first three quarters of 2020.
Building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported third-quarter sales of $212.7 million, a 1.4% decrease over the prior-year period.
Dallas-based building materials distributor Builders FirstSource, fresh off the acquisition of BMC Stock Holdings, reported a stellar third quarter.
United Rentals also reported that sales for the first nine months of 2020 fell 9.3% compared to the same period of 2019.
Building materials distributor BlueLinx Holdings also reported a profit of $55.1 million for the quarter.
Phoenix-based electronics distribution giant Avnet reports a loss of $18.9 million in the fiscal first quarter.
