Heating, Air-conditioning and Refrigeration Distributors International reported a 0.2 percent sales increase in September. The average annualized growth for the 12 months through September was 5.6 percent.

“September 2017 had one less billing day than 2016, 21 percent fewer cooling degree days, and two hurricanes disrupting operations,” said Brian Loftus, HARDI market research & benchmarking analyst. “The heat wave out west led to very strong sales growth that influenced the average calculation. The median distributor’s sales declined by 1.6 percent.”

The Days Sales Outstanding, a measure of how quickly customers pay their bills, is almost 44 days.

“This is the normal DSO pace for this time of year,” Loftus said. “It is the midpoint of the recent levels for September.”