HVAC distributor sales pop 14% to close out 2024

HARDI distributors reported a double-digit sales jump in December, according to its latest Trends report covering over 400 distributors nationwide.

Why it matters: Distributor sales often serve as a general proxy for contractor sales, where both confidence and uncertainty loom this year. 

Details: HARDI distributors saw revenue jump 14.2 percent year-over-year in December, “the best growth rate” of 2024, said HARDI’s Brian Loftus. 

• Of note: “There were some unusual factors behind that performance,” he added. 
• “Sales were off by almost 8 percent during December of 2023, so this year had a very easy comparison, and an extra selling day to compare to that soft prior year.”

Zoom in: December was also a record month on another front — distributors’ annual sales growth rate reached its highest point since September 2023, at 3.9 percent.

• The sales growth rate has remained positive each month since March 2024.

Looking ahead: “It looks like the post-Covid industry normalization is back on track,” Loftus said. 

• January’s sales figures will be released in March.