The metalworking and MRO supplies distributor’s fiscal year ended Sept. 3, and its strong momentum bodes well for the greater industrial supplies market.
It was another quarter of double-digit sales and profit gains for the industrial supplies distributor, which saw softening demand and tougher year-over-year comparables.
That strong growth was aided by an additional billing day vs. a year ago.
The company’s June-August revenue increased slightly on higher fees, while profits fell considerably.
The MRO products giant’s annual Investor Day event outlined the company’s three-year performance projections, which include continued strong sales growth.
The St. Louis-based company said fiscal 2022 second-quarter sales rose to $1.86 billion for the period ending July 31.
The home improvement company also reported 2022 second-quarter earnings of $3 billion, in line with prior-year results.
The home improvement company said its year-over-year second-quarter sales increased 6.5%, or $2.7 billion.
The Dublin, Ohio-based company also reported fiscal 2022 fourth-quarter revenue of $47.1 billion, an 11% annual increase.
The Phoenix-based global technology solutions provider also reported fiscal 2022 4Q sales of $6.4 billion.
The Cleveland, Ohio-based company also says that full-year sales reached $3.8 billion, up 17.8% over last year.
Distribution Solutions Group had its inaugural earnings report following the April 1 merger of Lawson Products, TestEquity and Gexpro Services.
