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HARDI Distributors Report 19.5 Percent Revenue Increase in August

COLUMBUS, Ohio — Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 19.5 percent in August 2016.

The average annualized growth for the 12 months through August 2016 was 7.8 percent. The annual growth rate has been at 7 percent or more for three consecutive months after remaining within a narrow 6 percent to 7 percent range for most of the prior two years.

“An unusually strong report is usually the result of some special factors,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “Besides being much warmer than the prior year in much of the country during August, all of the country experienced two extra billing days versus August 2015.”

The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is now 42.3.

“August has been the annual seasonal low for DSO,” Loftus said. “This report matches the prior year and indicates a sturdy market.”

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.

For additional information, visit hardinet.org.