DNOW delivered $50 million in EBITDA on 7.9% in 2Q, a subtle increase from the year earlier.
Latest In Plumbing Products & PVF Distribution
The company's U.S. sales fell 7% year-over-year during 2Q.
It completes a years-long corporate transition for the distributor of plumbing, HVACR, PVF and industrial supplies.
It will become Ferguson’s first shipping hub to service the New England region.
As Ameripipe’s ninth U.S. location, the branch will provide fire protection contractors in Miami with Victualic products and fabricated pipe.
Blue Ridge will now offer inventory planning software to ASA members, who are plumbing, heating and PVF distributors and manufacturers.
Ferguson said weakness in certain commodity categories persisted in the quarter, driving overall price deflation of about 2%.
Recent acquisitions drove most of the growth, more than doubling that of 4Q23.
The distributor's Skypod system will consist of over 43,000 storage bins, 36 robots, three picking stations and three induction workstations.
Plumbing supplies distributor Ferguson's eight acquisitions in this fiscal year have an aggregate annualized revenue of $350 million.
It nets Winsupply a single-location waterworks distributor in operation since 1947.
It gains Macomb a 66-year-old, two-location distributor of PVF, bathroom and kitchen fixtures and HVAC equipment.
1Q U.S. sales actually increased 2% year-over-year, driven by DNOW's acquisition of Whitco Supply that was completed during the quarter.
Gross margin had a modest annual improvement, while EBITDA shrunk.
The distributor had a considerable 1Q sales improvement vs. 4Q23, while all business segments saw continued annual declines.
It’s the distribution group’s first acquisition since it was formed by Trive Capital at the end of 2023.
The 308,000-square-foot facility is projected to open by the first quarter of 2025.
We update on where Ferguson is at in its MDC rollout plan that will place smaller distribution centers closer to pro customers in major metro areas.
The addition of plumbing and electrical supplies distributor Southern will give a wider range of products across a larger geographic area.
It marks a further strengthening of the St. Louis-based distributor's HVAC unit.
