HVAC distributor sales rise in June

HVAC distributors in June posted single-digit revenue growth compared to last year, according to monthly HARDI data released Tuesday.

What’s happening: HARDI distributors’ sales — a general proxy for contractor sales — grew 6.9 percent year-over-year, per the data. But there’s a caveat: This June had one more billing day than last year. 

• While still positive, “We estimate the sales growth was closer to 1.8 percent with the same number of billing days,” said HARDI analyst Brian Loftus. (The reports don’t break out residential vs. commercial equipment sales.)

The big picture: The release marks 14 consecutive months of positive annual sales growth. Over the past three months, that figure has hovered around four percent, while the producer price index has been “moving towards that level,” the company noted. 

What they’re saying: “If the price increases are passed through, then there is not much real sales growth so far this year,” Loftus added. 

• “Modest sales growth during 2025 would be consistent with the sticky inflation and interest rates, the weak consumer confidence, housing and employment reports.”

What’s next: July sales data will be released in early September.