HARDI distributors report April revenue increase
HARDI’s monthly TRENDS report shows average sales for member distributors increased by 5.6% in April. The average annualized growth for the 12 months through April 2017 is 8.4%.
“April is the tail end of heating season in some parts of the country and the start of cooling season in other parts,” HARDI Market Research & Benchmarking Analyst Brian Loftus explained. “Wherever HARDI distributors were located, they had one less billing day this month and produced results consistent with a healthy market.”
“The U.S. Remodeling Market Index reached 58.3 in the first quarter, up 7.0% from the first quarter of 2016 and the highest mark since mid-2015,” HARDI Senior Economist Connor Lokar noted. “Along with the 6.7% year-over-year improvement of U.S. Private Home Improvement Construction spending to a record $159.7 billion, it is a good economic environment for HARDI members.”
The days sales outstanding, a measure of how quickly customers pay their bills, is more than 50 days. “The DSO increase through the year is consistent with the normal seasonal pattern,” Loftus said. “The current level is higher than this time last year, but lower than the 2015 level.”