COLUMBUS, Ohio – The average sales growth for reporting HVACR distributor members increased by 8.2 percent in October 2014, according to the trends report released by Heating, Air-conditioning and Refrigeration Distributors International (HARDI). The annualized growth through October is 6.4 percent, consistent with its range throughout 2014.
“Annual retail sales are up 2.6 percent from last year and the quarterly trends suggest a brief acceleration in the near-term," said Danielle Marceau, HARDI senior economist. "This will support additional upward momentum for members.”
“October had an excuse to fade after an impressive September showed 15 percent growth, but HARDI distributors had another strong month,” said Brian Loftus, market research and benchmarking analyst, HARDI. “Each of the seven reporting regions had positive results, and four of them reported double-digit gains. This October had the same number of billing days as October 2013, which also experienced good growth.”
The Days Sales Outstanding or DSO, a measure of how quickly customers pay their bills, is now at 46.5 days, a bit shorter than last year at this time. The recent seasonal pattern indicates a gradual increase is likely to reach the low 50s by early next spring.
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.