HARDI Distributors See 1.9% June Revenue Increase - Modern Distribution Management

HARDI Distributors See 1.9% June Revenue Increase

HARDI reports a revenue increase for distributors in June, despite fewer billing days compared to last year.
HARDI logo

Heating, Air-conditioning & Refrigeration Distributors International (HARDI) shared its monthly TRENDS report on Aug. 1, showing that June sales by distributors increased by 1.9% year-over-year.

June had two fewer billing days vs. a year earlier, and HARDI estimated that sales growth would have been closer to 12% with an equal number of billing days.

On an annual basis, the growth rate for the 12 months through June 2024 was 2.5%, an increase from the 0.2% through January.

“It was warmer than normal in all seven of our regions during June, and there were twice as many cooling degree days than the prior year in four of our regions,” HARDI Macroeconomic & Residential Market Analyst Brian Loftus said.

The Days Sales Outstanding — which measures how quickly customers pay their bills — was near 38 days during June.

“The 38-day DSO for June was a bit better than recent results,” Loftus added. “June of 2021, 2022, and 2023 was near 39 days. Softer demand has not been a noticeable drag on customer’s abilities to pay their bills.”

“That annual rate is showing some life after being about flat during the first calendar quarter,” Loftus continued. “We hope that will continue with easy comps during the back half of the year, steady or improving economic conditions in most of our seven economic regions, and it starts with two extra billing days this July versus last year.”

 

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!