Foodservice distributor Sysco Corp. (NYSE: SYY) of Houston reported 2022 fiscal first-quarter sales of were $16.5 billion, an increase of 39.7% compared to the same period the prior year. The company’s gross profit increased 33.9% to $3 billion, while operating income was $631.7 million, an increase of $212.1 million, or 50.6%, compared with the same […]
Category: Digitization
MRC Global 3Q Sales Up
Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC) of Houston reported 2021 third-quarter sales of $685 million, a 17% increase over the same quarter last year. The company reported $686 million in sales in 2021’s second quarter. MRC Global’s U.S. segment experienced modest growth, led by the downstream, industrial and energy transition sector, […]
ABM Industries Appoints New Senior Vice President of Investor Relations
ABM Industries announced that Paul Goldberg has joined the company as senior vice president of investor relations.
Fastener Distributor Index Improves
Despite continued supply chain disruption, October’s seasonally adjusted Fastener Distributor Index improved to 56.1, reflecting slightly better selling momentum and employment levels, according to the latest analysis from Baird, FCH Sourcing Network and the Institute for Supply Management. The FDI increased from 54.2 in September. FDI key themes from October include elevated freight costs, shipping […]
Cardinal Health Revenue Increases
Cardinal Health (NYSE: CAH), Dublin, Ohio, reported 2022 fiscal first-quarter revenues of $44.0 billion, an increase of 13% from the first quarter of last year. The pharmaceutical distributor and global manufacturer of medical and laboratory products also reported 2022 fiscal 1Q net earnings of $271 million, a rebound from its reported $253 million in losses […]
Masonite 3Q Sales Rebound
Tampa Bay-based Masonite International Corporation (NYSE: DOOR), a manufacturer and distributor of interior and exterior doors, reported 2021 third-quarter net sales of $652 million, an 11% increase over the same period a year ago. The increase in net sales was the result of an 8% increase in average unit price, a 2% increase in base […]
Characteristics of Highly Effective HVAC Websites
Let’s talk about what some of the leading HVAC websites have in common and why these characteristics are important.
L&W Supply Acquires G. Proulx
Chicago-based L&W Supply Corporation, a U.S. distributor of building materials and specialty products, acquired the assets of Ft. Lauderdale, Florida-based G. Proulx Building Materials. L&W Supply said the acquisition will “increase its team of experienced associates and strengthen its presence in the southeast Florida market.” L&W Supply now has 15 locations in Florida. Financial details […]
XOi and IFS Core Extend Integration to Help Contractors Streamline Operations and Optimize Critical Functionality
XOi Technologies and IFS Core announce an enhanced integration and extended partnership.
HVAC Contractor Expected a Challenge, Not a Pandemic
Marc Cowden knows how to turn around struggling HVAC operations.
Honoring a pair of industry national treasures
The American Supply Association’s Fred V. Keenan Lifetime Achievement Award is the highest honor that can be given to a member of our industry’s national trade association.
Parts Town Fuels Growth Through Recapitalization
Parts Town announced that Leonard Green & Partners, L.P. has made a significant investment in the company. Existing investor Berkshire Partners will retain its majority stake in the company.
Are you Surviving or Thriving?
In this eBook, wholesale distributors will uncover actionable tips and efficiencies to maximize opportunities with downstream partners, achieve greater margins, reduce leakage, and right-mix products while right-sizing pricing. Courtesy of Vistex. The post Are you Surviving or Thriving? appeared first on Modern Distribution Management.
Your jumpstart to 2022 with Infor’s free ERP!
Take advantage of Infor’s 3 for Free offering to get you started on CloudSuite Distribution, a best-in-class ERP solution purpose-built for the distribution industry. The post Your jumpstart to 2022 with Infor’s free ERP! appeared first on Modern Distribution Management.
Curbell Plastics’ Award-Winning Training and Development Techniques
While many distributors proclaim that training and development techniques are the backbone of their organization, those learning initiatives can often slip through the fingers of well-meaning industry professionals. It might be time to ditch the “one-size-fits-all” approach in favor of more targeted, goals-based training for employees, said Jinny Kcehowski, associate director of training and development […]
FleetPride Acquires Garden Spot
Irving, Texas-based FleetPride Inc., a distributor of truck and trailer parts and services, last week acquired the assets of Pennsylvania-based Garden Spot Frame & Alignment. Financial details were not disclosed. Garden Spot offers shop services to heavy-duty fleets and operators in southern Pennsylvania, including repairs for trucks and trailers, alignment and framework, roadside and on-site […]
Rexel Finalizes Mayer Acquisition
Read more about this acquisition in our Premium article, “Behind the Deal.” Rexel (RXL:PA), an international multichannel distributor, has finalized a $456 million deal to acquire Mayer Electric, a family-owned distributor of electrical products and services based in Birmingham, Alabama. Rexel said in a statement that the acquisition reflects “a new strategic step to strengthen […]
Olympic Steel Has Record 3Q
Third-quarter net income for Cleveland-based Olympic Steel, Inc. (Nasdaq: ZEUS) increased to $44.5 million this year, compared with a net loss of $1.5 million, in the third quarter of 2020. Net income represented $3.87 per diluted share, compared $0.13 per diluted share during the same period a year ago. The company reported sales of $668 […]
Ritchie Bros. and SmartEquip Team to Make Equipment Parts Procurement Easier
Ritchie Bros. announced that it has completed its acquisition of SmartEquip, a technology platform that supports customers’ management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers.
US Foods 3Q Sales Rise
US Foods Holding Corp. (NYSE: USFD), Rosemont, Illinois, had net sales of $7.9 billion in the third quarter of 2021, a 34.9% leap over the same period a year ago. Total case volume increased 18.5%, while gross profit increased 27.4% to $1.2 billion. Net income available to common shareholders was $55 million, US Foods said. […]
