Construction input prices fell 0.9% in November but remain 40% ahead of February 2020 pre-pandemic levels.
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June Yang, who leads the Cloud AI and Industry Solutions unit at Google Cloud, has been appointed to the SRS board.
Builders FirstSource Executive Vice President Dave Rush has been appointed interim CEO while a search for a permanent successor is conducted.
The new US LBM facility will focus on roofing and siding, the company said in its announcement.
The distributor has also enacted a handful of other cost-cutting actions as homebuilding has soured throughout 2022.
The distributor has added Atlanta-based Georgia Truss and Fayetteville-based Comtech.
The construction industry had 422,000 job openings in September, according to an Associated Builders and Contractors’ analysis.
Beacon will create a new specialty waterproofing division as a result of the acquisition.
With locations in Nashville and Chattanooga, Metro adds 30 employees to SRS.
Construction input prices dipped 0.1% in September compared to the previous month but remained 41% ahead of February 2020 pre-COVID levels.
Builder confidence in the market for newly built single-family homes fell again in September.
Sales were up at least 20% year-over-year in all four of the company’s key product categories, though gross margin took a dip.
Our long-awaited annual rundown of the top distributors across 17 industrial, construction and commercial products sectors is available to view and download.
Birte von Schwarzenfeld joins Beacon after spending the past 3.5 years in executive roles at Hilti Group.
It was a notable acceleration from the building products distributor's 1Q growth, achieving company records in sales, profit and profit margin.
Core organic sales comprised half of the distributors' 24% sales growth year-over-year.
The company still has plenty of capital left in its 2022 M&A budget, and underlying growth has it targeting accelerated revenue growth.
MDM’s new report, Markets Forecast, offers quarterly revenue projections for the wholesale distribution industry, plus breakouts for select categories, for the current calendar quarter and the next fiscal year. The inaugural Forecast looks at post-pandemic projections for distributors as a whole, plus specific sectors.
MDM’s quarterly survey in partnership with investment banking firm Baird reveals that distributor revenues decelerated sharply in 2Q but not as bad as feared at the beginning of the pandemic shutdown. One consensus among more than 550 participants: Distributors began rethinking the way they manage talent.
Construction and industrial sales decreased 1.1% in the fiscal first quarter.
