HARDI’s Monthly TRENDS Report showed growth in all seven U.S. regions; three in double-digits.
Air-conditioning and Refrigeration Distributors International (/HARDI) announced North
American HVACR average distributor sales for February 2012 were up 9.6%.
HARDI’s Monthly Targeted and Regional Economic News for Distribution Strategies
(TRENDS) Report showed growth in all seven U.S. regions; three in
double-digits. Canadian distributors had one of their better months in some
time after a slight decline in January but not enough to keep its annual growth
rate in positive territory. U.S.-only distributor sales were up 9.7% for the
are still elevated,” said HARDI economist, Andrew Duguay.
“Just over two-thirds of distributors reported higher inventories than last
year. This is likely causing the sharp contrast with HVACR New Orders from
Census Bureau data and the less-than-stellar shipment numbers recently reported
also commented, “It is promising to see the 12/12 establishing a low point in
the 2 - 3% annual growth range. This is the third consecutive month of annual
sales growth of just under 3%. Momentum from the 1/12 suggests we could be
seeing rise from the 12/12 trend as early as next month.”
Sales Outstanding (a measure of how quickly customers pay their bills) crept up
for the sixth time in seven months, increasing to nearly 52 days. Distributor
productivity reflected by sales per employee backtracked for the seventh
consecutive month down another 6% from last month and nearly 40% from its July
“Our economists’ bullish forecasts for 2012 are off to a great start thus far
and serving as another reminder that shipment data is not the best leading
indicator for industry sales,” said HARDI Executive Vice President and C.O.O. Talbot
Gee. “Discussions with distributors across the U.S. are
carrying a consistent theme of aggressive inventory positions so that no sales
are lost as the market continues to strengthen this year.”
“Interestingly, distributors’ unitary sales - ducted and ductless units alike -
are trending almost exactly opposite of AHRI shipments and kicking off 2012
with impressive growth versus a disappointing Q1 2011.”
HARDI’s 2012 HVACR Market and Unitary Forecast is now available to member and
non-member companies with details at www.hardinet.org/2012forecast.
HARDI distributor sales forecast for a strong 2012
April 6, 2012