The company’s 1Q earnings and subsequent commentary shed light on several other factors driving growth at the MRO parts distributor besides its recent $1.3 billion acquisition of Kaman Distribution Group.
Miami-based HVACR distributor Watsco Inc. reported 34% sales growth to a record $1.52 billion for the first three months of 2022.
The water treatment and sustainability provider says its 2022 first-quarter sales were up 15% compared to the same period last year.
Months after subsidiary Motion acquired Kaman Distribution Group, Genuine Parts Company reported record sales of $5.3 billion during the first quarter of 2022.
The distributor says 2022 first-quarter net sales were $1,704.1 million, up about $287 million over the same period in 2021.
The industrial technology company net sales of $909.1 million for the second quarter of fiscal 2022 ended February 28.
The company’s recent choices raise the question: Will other similar distributors reduce their exposure to volatile energy markets?
In its latest earnings report, the company reported fiscal 2022 second-quarter net sales of $862.5 million.
DXP Enterprises, Inc. reported 2021 sales of $1.1 billion after closing three acquisitions during the year.
The company’s strong quarter was primarily due to the impact of the completion of its merger with Tech Data from September 2021.
The company reported $6.5 billion in sales for the quarter ending Jan. 31, as core strengths drove market share gains in supportive end markets.
The electrical, communications and data networking distributor reported 2021 net sales of $8.8 billion, a 20.7% increase compared to 2020.
