Heating, Air-conditioning & Refrigeration Distributors International released its monthly trends report, showing the average sales performance by HARDI distributors was an increase of 26.7% during March.
The average annual sales growth for the 12 months through March 2022 is 25.3%.
The Days Sales Outstanding, a measure of how quickly customers pay their bills, was 42 days at the end of March 2022. “The March 2022 DSO is comparable to March 2021. This rate is considerably better than the pre-pandemic norm for March in the 48-day area,” said HARDI Market Research & Benchmarking Analyst Brian Loftus.
“The trends performance during the past year has tracked the rapid economic recovery. We expect economic growth to be cooling this year,” said Loftus. “Consumer sentiment is down; inflation and mortgage rates are up. The sales growth at building materials and supply retailers is slowing and our trends annual sales growth has a strong tendency to follow the performance of that group.”