AD is reporting that member sales in the first three months of 2023 reached a new Q1 record of $18.3 billion, an increase of 6% across 14 divisions and three countries.
Purchases by member companies from AD suppliers reached $4.63 billion. Net distributions to members grew 11% in the quarter to $386.3 million.
Same-store member sales increased 12%, led by 19% growth in AD’s U.S. Electrical Division and its Bearings & Power Transmission Division. Same store sales were positive for every AD Division when measured in their own currency.
AD CEO Bill Weisberg commented: “Just like other periods where there’s been elevated consolidation activity, independents flourish. Plus, we welcomed 16 new independents to the AD community in the quarter, while existing AD members purchased an additional 14 companies.”