The company posted 3Q year-over-year sales growth of 5.4%, an impressive rebound from the 3.6% decline seen in 2Q.
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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.
Graybar's net sales were a 3Q record, but growth is down from the numbers recorded in the first and second quarter of 2023.
The company reported double-digit organic sales growth in commercial aviation, defense and space and process solutions.
The bearings maker said it's eyeing the sale of non-core Aerospace product lines, which include seals, rings and PEDs.
Year-over-year sales declines continued at the toolmaker, but gross margin and operating margins improved substantially.
