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HARDI and JP Morgan Equity Research Partner on Second HVAC Mid-Season Survey

Heating, Airconditioning and Refrigeration Distributors International (HARDI) recently completed the second annual Mid-Season HVAC Distributor Survey in partnership with JP Morgan Equity Research.

Over 100 HARDI HVAC equipment distributors reported a strong 2010 thus far driven largely by weather, continued momentum from the $1,500 residential tax credits, and pent-up demand from last year’s weak replacement sales.

Concerns about a still-sluggish commercial recovery, continued lack of consumer and commercial credit, and price pressures weigh down otherwise generally-optimistic outlooks for 2010. Interestingly, while over 90% of respondents considered the residential tax credits positive for business, over half shared concerns that a failure to extend the tax credits beyond this year could have a negative effect on 2011 by pulling through some demand.

The survey goes into detail on Residential End Market Demand, Commercial End Market Demand, Inventory Levels, Raw Material and OEM Price Pressures, Government Policy Measures, and Energy Efficiency/Environmental/Air Quality Factors. The results of this annual joint survey are proprietary benefits to HARDI member companies and clients of JP Morgan’s Equity Research Group. Inquiries about this survey should be directed to JP Morgan’s Stephen Tusa at (212) 622-6623 or HARDI’s Talbot Gee at (614) 345-4328.

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