Hardi Sales Growth To August

    HARDI Reports 26.4% Revenue Increase in August

    Oct. 4, 2021
    The average annual sales growth for the 12 months through August 2021 is 18.7 percent.

    COLUMBUS, Ohio, October 4, 2021 – Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors was an increase of 26.4 percent during August 2021.

    The average annual sales growth for the 12 months through August 2021 is 18.7 percent. 

    “August was the sixth month this year with sales growth that exceeded 20 percent,” said HARDI Market Research & Benchmarking Analyst Brian Loftus.  “Along with the continued underlying strong demand, this month was helped by an extra billing day, warmer than normal temps in five-of-seven regions, and passing through the price increases.” 

    The Days Sales Outstanding, a measure of how quickly customers pay their bills, was 40 days at the end of August 2021.  “Like July, the 40-day DSO is about four days quicker than this time of year before the COVID related business interruptions,” said Loftus.

    The annual sales growth of 18.7 percent through August is a new record for HARDI distributor’s average annual growth rate.  

    "This record growth rate is a result of the easy comparison last year when sales were interrupted, followed by a demand jolt from the stimulus dollars, and then 8 percent to 10 percent from price increases that are being passed through,” said Loftus.  “Next year will look much different.” 

    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.