Familiar names continue to dominate the top tier of this year’s Distribution Trends Top 50, all ringing up HVACR sales of more than $200 million in fiscal year 2019.
Distribution Trends recently connected with leaders representing five of the 20 largest distributors in the nation to discuss the strategies they employ to achieve such significant sales growth.
Five years ago, the Top 50 HVACR Distributors survey revealed that 96 percent of respondents had achieved increases in their HVACR sales in the latest fiscal year. This year’s survey nearly matched that phenomenal growth, with 95 percent of all respondents reporting increased HVACR sales.
2017 was an incredible year for wholesale HVACR distribution. Seventeen of Distribution Trends' Top 50 Distributors reported double-digit sales increases for fiscal year 2017.
MIAMI — Watsco Inc. has announced its board of directors has approved a 19 percent increase in its annual dividend to $5.00 per share on each outstanding share of its Common and Class B common stock. The increase will be reflected in the company’s next regular dividend payment beginning in July 2017.
Grainger recently held its annual shareholder meeting in Lake Forest, Illinois. Grainger Chairman Jim Ryan presided over the meeting and Chief Executive Officer D.G. Macpherson provided an update on the state of the business and offered a recap of 2016 full-year and 2017 first-quarter performance.
The percentage of HVACR distributors who reported sales increases in fiscal year 2016 was the highest since fiscal year 2013, when 96 percent enjoyed higher sales. In fiscal year 2014, 75 percent saw a rise in sales; while 2015 brought an additional rise to 77 percent. The 90 percent of distributors who said their 2016 HVACR sales were up reported an average increase of 10.4 percent compared to 2015.
Total HVACR sales represented by the Top 50 Distributors each year have steadily increased. In 2012, they accounted for more than $10.3 billion (fiscal year 2011); this rose to more than $11.5 billion in 2013, $12.8 billion in 2014, and $13.8 billion in 2015. This year, the top 50 represented $14.8 billion in sales for fiscal 2015.