The company announced its 2Q earnings one day after saying it would be acquired by Clayton, Dubilier & Rice for $2.3B.
The year-over-year growth was down from the 19% reported during the company’s 2023 first quarter.
Dakota Fluid Power will increase Singer Industrial’s North America footprint to approximately 85+ locations with over 1,200 employees.
The company said that Aerospace/Defense sales were up 21.2%, while Industrial sales were up 4.7%.
It’s just CD&R’s latest major investment in the B2B distribution space.
Despite strong numbers from the company’s Patient Direct segment, overall sales increased just 2.5%.
The company reported its July sales figures, which showed net and daily sales were up 3.7% compared with the same period in 2022.
During the quarter, operating income more than tripled and adjusted EBITDA increased by $8.4 million, or nearly 27%.
New orders for manufactured goods in June — up 6 of the past 7 months — increased $13.4 billion or 2.3%.
It’s a big week for industrial manufacturer’s financial reports. We recap the key figures for four of them here.
NOW’s President and CEO said the distributor had the most profitable first half of the year since being a public company.
Wesco reported record second-quarter sales thanks to growth in two segments which offset a quarterly drop in its electrical business unit.
