Organic sales narrowly dipped year-over-year as modest growth in Applied’s Service Center segment offset a decline in Engineered Solutions.
See our full breakdown of 3M’s 4Q numbers, which showed that roofing granules were the only industrial category to see decent growth.
Fourth quarter sales, profits and margins all edged up from a year earlier, and December daily sales topped November’s. Get our in-depth breakdown here.
The figures signalled a bumpy period for fellow metalworking and MRO supplies distributors.
Meanwhile, about one-third reported decreased gross margins because of supplier price increases and other cost pressures.
The specialty building products distributor GMS said its net sales, income and EBITDA results were ahead of previous expectations.
Waterworks and industrial supplies distributor Core & Main’s 3Q earnings increased 0.5% due to acquisitions offset by lower end-market volumes.
Modest year-over-year increases in the previous quarter moved to declines in the company’s 2024 first quarter, including a 4.9% organic revenue decline year-over-year.
Based on lower-than-expected DIY sales, partially offset by positive Pro customer comp sales, Lowe’s updated its outlook for the year.
When Wesco merged with Anixter in 2020, it took on a margin improvement plan, which may help the company reach its 10% EBITDA margin target.
The company said Pro customers outperformed DIY in the quarter, but by the narrowest margin in quite some time.
Companywide, Wajax said 2023 third quarter revenue was $369.13 million (USD), up 8.3% over the same period in 2022.
