HARDI distributor revenues up 2% in September

HARDI, which represents over 400 HVAC distributors, released its latest Trends report, showing a near-2% jump in September sales, based on a survey of its members.

Why it matters: While not a perfect relationship, HVAC distributor sales can be a reasonable proxy for contractor sales. 

What’s happening: In September, HARDI distributors saw a 1.6% sales increase and a 2.3% increase in their sales growth rate, year-over-year.

• Zoom in: September was the sixth consecutive month that the rate at which its distributors' sales grew was positive, following a stagnant four months from December 2023 to March.

• “That healthy performance is consistent with the performance of our economy,” said Brian Loftus, HARDI’s resident economic analyst.

The bottom line: September’s numbers support HARDI’s view that the growth rate of its members’ sales bottomed early this year after nearly two years of declines and will continue to recover in the coming months.