HVAC distributor sales dip in November

HARDI distributors saw a one percent year-over-year revenue decline in November, according to a report released on Tuesday, encompassing over 400 distributors nationwide.

Why it matters: Distributor sales can be used as a general proxy for contractor sales. 

Details: HARDI distributors’ sales fell 1.1 percent compared to November 2023, but the annual sales growth rate increased by three percent.

• “A sales decline could indicate a pause to our annual sales growth rate recovery, but not in this case,” said HARDI’s Brian Loftus. 

The big picture: The annual growth rate of HARDI distributors’ sales has been positive every month since March 2024, when it bottomed. 

• The company expects this trend to continue, with replacement demand showing promise this year. 

Looking ahead: December’s sales figures will be released during the second half of February.