However, lower volume driven by deferred activity in the gas utilities sector didn't stop the company from modest full-year growth.
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Watsco's 2023 follows two years of record-setting performances and faces softer comparative market conditions.
While 4Q volume fell in certain verticals, Wesco said it saw growth in industrial, utility, data center and network infrastructure.
Full-year 2023 total sales were $4.73 billion, up 5.3% from 2022.
The results showed a continued slide in year-over-year and sequential sales growth that reflected an industry-wide demand slowdown.
The company saw a sharp deceleration in daily sales, hampered by weather impacts during the month.
The figures reflected a broader industrial supply demand slowdown, though Grainger's 4Q growth deceleration was less than most public firms that have reported so far. Get our full breakdown here.
SBD's Tools & Outdoor segment drove the overall margin improvement, as Industrial dipped slightly.
October-December Avnet sales fell 5.5% year-over-year in the Americas.
Despite the tense global economic and political climate, Germany-based industrial distributor Würth Group's sales grew by 2.4%.
Organic sales narrowly dipped year-over-year as modest growth in Applied's Service Center segment offset a decline in Engineered Solutions.
See our full breakdown of 3M's 4Q numbers, which showed that roofing granules were the only industrial category to see decent growth.
Fourth quarter sales, profits and margins all edged up from a year earlier, and December daily sales topped November's. Get our in-depth breakdown here.
The company's VP of Strategy and Transformation takes on interim CFO duties while Beacon conducts an external search for a permanent CFO.
The figures signalled a bumpy period for fellow metalworking and MRO supplies distributors.
DSG says it demonstrates confidence in its plan to drive profitable growth, generate long-term returns and create shareholder value.
Meanwhile, about one-third reported decreased gross margins because of supplier price increases and other cost pressures.
The specialty building products distributor GMS said its net sales, income and EBITDA results were ahead of previous expectations.
Waterworks and industrial supplies distributor Core & Main's 3Q earnings increased 0.5% due to acquisitions offset by lower end-market volumes.
Modest year-over-year increases in the previous quarter moved to declines in the company's 2024 first quarter, including a 4.9% organic revenue decline year-over-year.
