Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 7.0 percent in March 2017.
The average annualized growth for the 12 months through March 2017 was 8 percent. The annual rate has been at-or-above 8 percent since September 2016.
“The heating season ended on a good note after the warm February,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “The growth rate was helped by strong growth in the Southwest that benefitted from an unusually warm period.”
“Our leading indicators continue to improve,” said HARDI Senior Economist Connor Lokar. “The general rise in the Purchasing Managers Index suggests a cyclical rise in US Industrial Production into early 2018.”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is near 49 days. “The DSO is has increased from 46 at the beginning of the year but that is not cause for concern,” said Loftus. “This increase is consistent with the normal seasonal pattern. The latest DSO is nearly equal to the March 2016 level.”
HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.
HARDI members market, distribute, and support heating, air-conditioning, and refrigeration equipment, parts and supplies. HARDI Distributor members serve installation and service/replacement contractors in residential and commercial markets, as well as commercial/industrial and institutional maintenance staffs. HARDI proudly represents more than 480 distributor members representing more than 5,000 branch locations, and close to 500 suppliers, manufacturer representatives and service vendors.