April HVAC shipments jump year-over-year

AHRI last week released April’s AC and heat pump shipments, showing a year-over-year jump.

Details: Just under 750,000 combined units were shipped in April, up 5% from April 2023.

• Year-to-date shipments total 2.7 million, down 4% year-over-year.

Why it matters: The lag behind last year’s shipments, year-to-date, so far confirms predictions of a weaker 2024 for the industry compared to 2023. 

• Those same predictions, however, include a positive outlook beyond 2024.

• “One could characterize [2023] as a process of normalizing volume… The expectation as we head into 2024 is for this normalization process to eventually trough or bottom out,” says investment bank Anchor Peabody.

What to watch for: This summer, as we’ve reported, is expected to be hotter than most, providing the industry an opportunity to make up lost ground. 

• “It will be interesting to see how the next few months play out,” Jonathan Torrey writes.