Beacon (NASDAQ: BECN), Herndon, Virginia, announced this week that it has named Jonathan S. Bennett as executive vice president and chief commercial officer (CCO), the latter of which is a newly created role. Bennett is slated to join Beacon on June 1. He will be responsible for the company’s integrated go-to-market strategy comprising selling excellence, […]
Mike Robuck
Beacon’s 1Q Sales Up 10%
Driven in part by the demand for its residential roofing materials, Herndon, Virginia-based Beacon (NASDAQ: BECN) posted revenues of $1.3 billion for the second quarter, which was a 10.1% increase from the same quarter a year ago. The company reported a profit of $22.1 million after a loss of $22.4 million the year prior. For […]
Fastenal’s April Sales Increase 1.2%
Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported April sales of $497.1 million, which was up 1.2% from the same month a year ago. Daily sales last month were $22.5 million, which was also an increase of 1.2 from the prior year. By region, U.S. sales dipped by 4.3%, Canada/Mexico sales were up 50.1% and “rest of […]
Builders FirstSource Sales Improve by 133% in 1Q
Dallas-based Builders FirstSource Inc. (Nasdaq: BLDR) posted net sales of $4.17 billion for the first quarter compared to year-ago net sales of $1.79 billion for a 133.6% increase. In Thursday’s earnings, Builders FirstSource said the marked increase was driven by its merger with BMC Stock Holdings, commodity inflation and strong organic growth. Last year the […]
Arrow Electronics’ First Quarter Sales Up 31%
On Thursday, electronic components distributor Arrow Electronics Inc. (NYSE: ARW), which is headquartered in Centennial, Colorado, reported revenue for the first quarter rose by 31.3% to $8.38 billion from $6.38 billion the year prior. Arrow Electronics’ profit totaled $206.32 million, or $2.72 per share compared to $49.50 million, or $0.61 per share, in the same quarter a […]
Emerson’s 2Q Sales Increase by 6% Year-over-Year
Emerson, which is based in St. Louis, Missouri, announced on Wednesday that its second quarter net sales were $4.4 billion, which was up 6% from the same quarter a year ago. Emerson’s underlying sales were up 2%, excluding favorable currency of 3% and an impact from acquisitions of 1%. Emerson, which makes process controls systems, […]
Veritiv Chalks up Record 1Q for Net Income
Veritiv Corp. (NYSE: VRTV), which is based in Atlanta, reported sales for the first quarter of $1.6 billion, which was a decrease of 8.7% from the prior year. Veritiv reported its net income was $21.3 million, which it said was a record for the first quarter, compared to net loss in the prior year. “We […]
BlueLinx Holdings Posts 58% Year-Over-Year Sales Increase in 1Q
BlueLinx Holdings Inc. (NYSE: BXC), Marietta, Georgia, reported net sales of $1 billion in the first quarter compared to $662 million in the same quarter a year ago, which marked a 58% year-over-year increase. BlueLinx also reported a gross profit of $180 million compared to $93 million in the prior year period. First quarter net sales […]
Goods and Services Deficit Continues to Grow in March
On Tuesday, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $74.4 billion in March, which was up $3.9 billion from $70.5 billion in February, revised. March exports were $200 billion, which were $12.4 billion more than February exports. March imports were $274.5 billion, $16.4 billion more […]
Huttig’s Revenues Up 5.8% in 1Q
Boosted by robust demand in residential construction, building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported sales of $214.7 million in the first quarter, which were $11.7 million, or 5.8%, higher than the first quarter of 2020. Huttig Building Products posted first-quarter net income of $8.1 million after reporting a loss of $8.9 million a […]
Who Will Win the Battle of Man vs. Machine in Distribution Sales?
There’s no doubt that the pandemic kicked digital transformations into a higher gear, but there’s room for debate as to what the future of B2B sales will look like. During the recent MasterB2B webcast Man vs. Machine, panelists squared off to discuss whether B2B sales interactions would be mostly human and in person or mostly […]
Manufacturing Sector Continues Growth Spurt in April
Economic activity in the manufacturing sector continued to rebound in April with the overall economy growing for the 11th consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM Report on Business. The April Manufacturing PMI registered 60.7%, a decrease of 4% from the March reading of 64.7%. This figure indicates expansion […]
AD Member’s Sales Up by 14% in 1Q
Wayne, Pennsylvania-based buying group AD announced on Monday that its first quarter sales were $12.7 billion, which was an increase of 14% across its 13 divisions and three countries. Same-store sales were up 6% while purchases by member companies from AD supplier partners increased by 16%. Net distributions to its members were up 19%. “The […]
March Construction Spending Up 5.3% Year-Over-Year
Construction spending during March was estimated at a seasonally adjusted annual rate of $1,513.1 billion, 5.3% above the March 2020 estimate of $1,436.7 billion, but 0.2% above the revised February estimate of $1,509.9 billion, according to the U.S. Census Bureau. During the first three months of this year, construction spending amounted to $328.3 billion, 4.5% […]
HARDI Distributors Report Record 33.2% Revenue Increase for March
On Friday, Heating, Air-conditioning & Refrigeration Distributors International (HARDI), Columbus, Ohio, released its monthly TRENDS report, showing the average sales performance by HARDI distributors was an increase of 33.2% in March. The average annual sales growth for the 12 months through March 2021 is 8.7% percent. “The 33% growth for the month is a new […]
Kimball Midwest Garners Learning Award
Kimball Midwest, a national industrial supplier based in Columbus, Ohio, announced on Thursday that it had recently received an award for its learning and development programs. Kimball Midwest was one of 59 organizations honored as part of Chief Learning Officer’s 11th LearningElite Awards program. It was the first time that Kimball Midwest was named to […]
Applied Industrial Technologies Bounces Back in 3Q
On Thursday, Applied Industrial Technologies (NYSE: AIT), Cleveland, Ohio, posted sales of $840.9 Million, which marked a 1.2% year-over-year increase. As it continues to recover from last year’s pandemic, sales ticked up 0.4% on an organic daily basis. After reporting a loss in the same quarter a year ago, Applied Industrial Technologies’ net income came […]
United Rentals off to a Solid Start in 1Q
On Wednesday, United Rentals Inc. (NYSE: URI), Stamford, Connecticut, reported revenues of $2.06 billon in the first quarter with rental revenue accounting for $1.6 billion. The company’s net income was $203 million in Q1, which is 17.3% year-over-year increase. Rental revenue for the quarter was down 6.5% year-over-year, but the company said it posted positive results […]
MRC Global Reports Q1 Loss of $3 Million
Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, reported first quarter revenue totaled $609 million, which was 5% higher than the previous fourth quarter but 23% lower than the first quarter of 2020. MRC posted a first-quarter loss of $3 million after reporting a profit in the same period a year ago. In Tuesday’s earnings report, […]
Beacon Names McDevitt as EVP and Chief Human Resources Officer
Beacon (NASDAQ: BECN), Herndon, Virginia, announced on Tuesday that it has named Sean M. McDevitt as Executive Vice President and Chief Human Resources Officer (CHRO). McDevitt is slated to start his new job at Beacon on May 3, and will work with current CHRO Christopher Harrison. Harrison will step down from Beacon later this quarter […]
