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: Operations
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, […]
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 […]
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 […]
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 […]
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 […]
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. […]
4Q ‘Will Be Big’ for Distribution M&A Activity
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AIS Opens New Distribution Center
All Integrated Solutions, a division of MSC Industrial Supply Co. (NYSE: MSM), opened a new distribution center Monday in the Minneapolis-Saint Paul, Minnesota metro area. The new facility, located at 10680 Fountains Drive in Maple Grove, covers 52,000 square feet. The center is 170% larger than the company’s previous distribution center in nearby New Brighton, […]
Summit Opens Arizona Center
Albuquerque-based Summit Electric Supply on Monday opened a new Service Center in Glendale, Arizona, which features a full counter, refreshment area and a will-call desk for phone and online orders. The new Service Center is just off US-101, less than one mile from State Farm Stadium, the home of the NFL’s Arizona Cardinals. The7,700-square-foot facility […]
Solve Adds New Management
Solve Industrial Motion Group, a bearings manufacturer acquired in June by Audax Private Equity, added digital marketing and business development leaders to its staff. Tom Walsh was named Solve’s new director of digital marketing, and Scott Sutfin will join the industrial bearings and power transmission parts company as a business development manager. The company said […]
Heritage Acquires Irrigation Companies
Heritage Landscape Supply Group, Inc., a McKinney, Texas-based subsidiary of SRS Distribution, acquired two irrigation equipment and supply companies. Heritage announced Friday it had acquired North Florida Irrigation Equipment, a family-owned distributor of irrigation, lighting, water features/pumps and other outdoor living products based in Jacksonville. NFIE employs 30 people and operates locations in Jacksonville, St. […]
Graybar Names New Execs
Graybar, a St. Louis-based electrical, communications and data networking distributor, said that a dozen executives will assume new leadership roles within the company starting next year. According to Graybar, the following changes will take effect Jan. 1, 2022: Bill Mansfield will take on a new role as senior vice president of strategy and business development. […]
SBP Will Acquire Millwork
Duluth, Georgia-based Specialty Building Products has agreed to acquire Millwork Sales, a wholesale distributor of doors, door components, moulding and millwork products with locations in Orlando and Royal Palm Beach, Florida. SBP said the agreement represents the company’s efforts to “expand its door manufacturing and distribution capabilities and expand the company’s presence in Florida and […]
Fastenal October Sales Up
Fastenal Co. (Nasdaq: FAST), Winona, Minnesota, reported October sales of nearly $531.7 million, an 8.9% increase over the same month in 2020. The company’s daily sales were $25.3 million, a 14.1% leap over the same period last year. Regionally, U.S. sales increased 13%, while sales in Canada and Mexico grew 20%. By end market, manufacturing […]
Arrow Electronics Sales Increase
Electronic components distributor Arrow Electronics Inc. (NYSE: ARW), Centennial, Colorado, had 2021 third-quarter sales of more than $8.5 billion, an 18% increase over the same period in 2020. Third-quarter net income for Arrow was $290 million, or $4.00 per share on a diluted basis, compared with a net income of $166 million, or $2.13 per […]
Builders FirstSource Sales Up 62.7%
Dallas-based building materials distributor Builders FirstSource, Inc. (NYSE: BLDR) reported 2021 third-quarter net sales of $5.5 billion, a 62.7% increase over the same period in 2020. The company also reported $613.1 million in net income, a record for Builders FirstSource. Gross profit for 2021 3Q was $1.7 billion, driven by the company’s merger with BMC […]
WESCO Reports ‘Record’ 3Q
WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, had “record” 2021 third-quarter sales of $4.7 billion, a 14.2% increase over the same period last year. The company also reported record operating profit of $229.5 million and record net income attributable to common stockholders of $105.2 million. For the third quarter of 2021, WESCO had an adjusted […]
