The company’s 1.9% YoY growth in the third quarter was a significant slowdown from 2Q’s 10.2% growth.
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Beacon has expanded its branch footprint through nine acquisitions and the opening of 19 new greenfield locations this year.
It’s another big week for industrial manufacturer’s financial reports. We recap the key figures for seven of them here.
WESCO saw year-over-year growth in its CSS and UBS units, while its largest unit — EES — declined.
On a constant currency basis, sales decreased 7.8% year-over-year and decreased 2.9% sequentially, Avnet said in a news release.
Marietta, Georgia-based building products distributor BlueLinx reported a 24% decrease in sales revenue in the third quarter of 2023.
The company reported net sales of $4.5 billion, a 21.3% decrease primarily driven by a weaker housing market and commodity deflation.
A court found that the company failed to pay affected workers overtime back wages since August 2018 and violated recordkeeping provisions.
The building materials distributor and manufacturer said that 91% of 3Q 2023 revenue came from distribution.
The company’s Spring 2023 acquisition of office products distributor Indoff powered most of the growth, while volume also improved.
It’s another week for industrial manufacturers’ financial reports. We recap the key figures for thee of them here.
