Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing average sales for HARDI distributor members increased by 5.6 percent in April 2017.
The average annualized growth for the 12 months through April 2017 was 8.4 percent.
“April is the tail end of heating season in some parts of the country and the start of cooling season in other parts,” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “Wherever HARDI distributors were located, they had one less billing day this month and produced results consistent with a healthy market.”
“The US Remodeling Market Index reached 58.3 in the first quarter, up 7.0 percent from the first quarter of 2016 and the highest mark since mid-2015,” said HARDI Senior Economist Connor Lokar. “Along with the 6.7 percent year-over-year improvement of US Private Home Improvement Construction spending to a record $159.7 billion, it is a good economic environment for HARDI members.”
The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is over 50 days.
“The DSO increase through the year is consistent with the normal seasonal pattern,” said Loftus. “The current level is higher than this time last year, but lower than the 2015 level.”
HARDI members participate voluntary for this report, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.