The PMI reported the seventh consecutive month of contraction, amid weak demand and cautious investment.
Optimum was a top customer whose contract expired at the end of June. Excluding that, 1Q sales saw double-digit annual growth.
The company raised its outlook for operating margins, driven by strong performance in its Aerospace Systems segment.
Acquisitions earlier in 2024 and prior accounted for a healthy annual sales gain, emphasizing the strategic expansion of its customer base.
Meanwhile, the bearings maker posted its 3Q results, made an Australasia acquisition and updated on its Automotive separation.
The company’s WIS unit sale earlier this year drove most of its overall sales decline, while its CSS segment powered narrow organic growth.
The organic gain outperformed compared to other industrial distributors in the July-September period.
Beacon set a company record for quarterly sales, with acquisitions largely driving year-over-year growth.
It decelerated from 2Q, reflecting a downturn in private inventory investment and residential fixed investment.
While a tentative wage agreement ended a strike in October, the parties are still divided on key issues, such as port automation.
QSC is a manufacturer of large, transformative audio, video and control solutions.
Although sales decreased, the full-year gross margin increased by 70 basis points compared to the previous year, reaching 41.2%.
