Net sales for the first quarter of the company's fiscal year were $1.1 billion, an increase of 3.1% over the prior year.
Latest In Earnings
While total sales growth continued to slow from earlier in the year, it still far outperformed the MRO market.
While MSC's June-August quarter ended with strong daily sales growth, it flattened to low-single digits in September and October.
3Q Industrial & Safety sales fell nearly 5% year-over-year amid mixed end-market demand and distributors right-sizing inventory levels.
For 3Q 2023, sales in North America were $2.21 billion, an increase of 2.7%, while sales in Europe were $2.38 billion, an increase of 3.4%.
Net sales for 2023's third quarter were nearly $1.16 billion, an increase of $56.8 million, or 5.2%, from 2022 levels.
For 3Q 2023, the company also reported a 9% increase in operating income to a record $257 million.
Sales for Genuine Parts Company's industrial segment were $2.2 billion, up 0.6% from the same period in 2022.
For the third quarter, the company reported more than $1.84 billion in net sales, a 2.4% increase over the same period in 2022.
The company added $780 million in combined revenue from acquisitions during its fiscal 2023, which ended July 31. Find a recap of the distribution giant's financials.
Despite some uncertainty about what's to come in 2024, 87% of NetPlus Alliance distributor members remain "mostly optimistic."
Strong member sales were seen across 6 product categories: Janitorial, Safety, Industrial, Restoration, Packaging, & Public Safety.
Fastenal reported its August 2023 sales information, which showed net and daily sales were up 3.6% compared with the same period in 2022.
The 2Q period follows the company's February-April period, in which sales slid 1.5% YoY and increased 49.2% sequentially.
The announcement comes just a few short days after the company published its inaugural sustainability report.
Lowe's reported net earnings of $2.7 billion and diluted EPS of $4.56 for the second quarter, compared to diluted EPS of $4.67 in 2Q 2022.
DSG, which just acquired Hisco, said the stock split demonstrates continued confidence in its long-term growth and financial performance.
The company said that fourth-quarter sales of $6.6 billion exceeded guidance and were up 2.9% year-over-year.
Lumber deflation and a wet start to spring drove a dip in Home Depot's sales, just as it did in the first quarter.
The distributor also announced a new leader for its Industrial Parts and Engineered Repair Services segments.
