Following a healthy increase in February, total U.S. construction spend is down in March across the board in both private and public projects.
The MRO, OEM and industrial technologies distributor posted year-over-year 1Q gains in sales and EBITDA, driven by both organic and acquisitive growth.
Acquisitions boosted top-line sales, while organic continued to slide.
While net sales dipped, a nearly 6% organic sales growth was led by data centers, and the distributor’s Broadband and OEM businesses.
The U.S. industrial health gauge retreated further into contraction, hampered by lower production and export orders.
The MRO distributor’s High-Touch Solutions segment logged a modest year-over-year sales decline, while Endless Assortment saw double digit growth.
Stanley Black & Decker implemented a high-single digit price increase on U.S. tools in April, with plans to introduce a second price increase effective the beginning of the third quarter.
Sales in the Americas and EMEA were down YoY and sequentially, while sales in Asia increased substantially.
The results also show that distributors warn new tax increases could add to mounting financial pressures across the industry.
Meanwhile, February’s monthly figure was revised upward.
During an earnings call, Hillman officials committed to supply chain diversification and lowering its exposure to China-based suppliers amid tariff uncertainties.
The landmark acquisition cements QXO’s presence as a major building materials distributor, and it’s just getting started.
