Heating, Air-conditioning and Refrigeration Distributors International reported a 2.9 percent sales increase for April. The annualized growth through April was 5.8 percent. The annual growth rate has remained near 6 percent since October.
“This April had one less billing day than the prior year,” said Brian Loftus, HARDI market research & benchmarking analyst, “but the real reasons for the low single-digit growth rate for the month were cool temperatures and the extreme precipitation in the country’s midsection.”
The Days Sales Outstanding, a measure of how quickly customers pay their bills, is now at 49.6.
