Based on lower-than-expected DIY sales, partially offset by positive Pro customer comp sales, Lowe's updated its outlook for the year.
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When Wesco merged with Anixter in 2020, it took on a margin improvement plan, which may help the company reach its 10% EBITDA margin target.
The company said Pro customers outperformed DIY in the quarter, but by the narrowest margin in quite some time.
Companywide, Wajax said 2023 third quarter revenue was $369.13 million (USD), up 8.3% over the same period in 2022.
The company posted 3Q year-over-year sales growth of 5.4%, an impressive rebound from the 3.6% decline seen in 2Q.
The company's 3Q YoY sales growth of 8.2% was a considerable slowdown from 2Q’s 16.4%, but still considered strong.
The company’s sales were $888 million for the third quarter of 2023, which was 2% higher than the second quarter of 2023.
The company estimated that net sales for the quarter were between $1.822 billion and $1.832 billion.
The growth was below Fastenal’s benchmark 3.1% rate that the company provided in its 3Q earnings presentation.
The company's 1.9% YoY growth in the third quarter was a significant slowdown from 2Q’s 10.2% growth.
Beacon has expanded its branch footprint through nine acquisitions and the opening of 19 new greenfield locations this year.
It's another big week for industrial manufacturer's financial reports. We recap the key figures for seven of them here.
The distributor's $269 million acquistion of Hisco this spring figures to drive big year-over-year gains through the first half of 2024.
WESCO saw year-over-year growth in its CSS and UBS units, while its largest unit — EES — declined.
On a constant currency basis, sales decreased 7.8% year-over-year and decreased 2.9% sequentially, Avnet said in a news release.
Marietta, Georgia-based building products distributor BlueLinx reported a 24% decrease in sales revenue in the third quarter of 2023.
The company reported net sales of $4.5 billion, a 21.3% decrease primarily driven by a weaker housing market and commodity deflation.
The building materials distributor and manufacturer said that 91% of 3Q 2023 revenue came from distribution.
The company's Spring 2023 acquisition of office products distributor Indoff powered most of the growth, while volume also improved.
It's another week for industrial manufacturers' financial reports. We recap the key figures for thee of them here.
