HARDI Distributors Report 10.4% Revenue Increase in March
Key Highlights
- Distributors experienced a 10.4% sales increase in March 2026, with an estimated 5.4% growth after accounting for billing days.
- Cooler-than-normal temperatures may have contributed to early construction activity, boosting sales prospects for the upcoming cooling season.
- The sales-to-inventory ratio suggests distributors are preparing for a busy summer, reflecting confidence in market demand.
COLUMBUS, OH – Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing sales by HARDI distributors increased by 10.4% during March 2026.
The annual sales growth for the 12 months through March 2026 is an increase of 3.3%.
“Double digit sales growth could be a great sign for 2026 after more than a year with annual sales growth in the 2% to 4% range, but that gain for the month had some help,” said Brian Loftus, Senior Market Analyst at HARDI. “March of 2026 had one more billing day than last March. We estimate the sales growth was closer to 5.4% with the same number of billing days.”
The monthly sales survey also calculates distributor’s Days Sales Outstanding which is a measure of how quickly customers pay their bills. The DSO for March was near 38 days like last March. “It looks like subdued market activity is helping to keep the DSO contained. It dipped below 40 days not long after the annual growth rate dipped below 5%.”
“March was the last month of heating season and the temps were well below normal in most of the country,” said Loftus. “That may have allowed some construction activity to begin early. The sales-to-inventory ratio indicates distributors are planning for a busy cooling season.”
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.