Tampa Bay-based Masonite International Corporation (NYSE: DOOR), a manufacturer and distributor of interior and exterior doors, reported full-year 2021 net sales of approximately $2.6 billion, a 15% increase over 2020. The company also reported 2021 fourth-quarter sales of $636 million, a 2.8% increase over the same period the year before. For all of 2021, net […]
Category: Operations
Barnes Group 4Q Sales Rise 8%
Barnes Group Inc. (NYSE: B) — a Bristol, Connecticut-based international industrial and aerospace manufacturer and service provider — reported 2021 fourth-quarter sales of $311 million, up 8% from the same period a year before. For 4Q, Barnes also reported an adjusted EPS of $0.55, up 53% versus the prior-year period. Operating income was $35.4 million […]
Avnet Announces Regular Dividend
Phoenix-based global technology solutions provider Avnet, Inc. (Nasdaq: AVT) announced last week that its board of directors approved a regular quarterly cash dividend of $0.26 per share. The dividend will be paid on March 16 to shareholders of record as of the close of business on March 2. Avnet last month reported 2022 fiscal second-quarter […]
TriMas Declares Quarterly Dividend
TriMas (NASDAQ: TRS), a Bloomfield Hills, Michigan-based manufacturer of engineered and applied products, declared a quarterly cash dividend of $0.04 per share of TriMas Corporation stock. The quarterly dividend is payable on March 11 to shareholders of record as of the close of business on March 4. TriMas announced the initiation of a dividend as […]
GPC 2021 Sales Top $18B
Genuine Parts Company (NYSE: GPC) reported 2021 year-end sales of $18.9 billion and fourth-quarter sales of $4.8 billion. The year-end figure was 14.1% above 2020 totals, while the fourth-quarter sales figure was a 13% increase over the same quarter a year before. Net income in the fourth quarter from continuing operations was $256 million, or […]
US Foods 4Q Sales Jump 24.5%
Rosemont, Illinois-based distributor US Foods Holding Corp. (NYSE: USFD) reported 2021 fourth quarter sales of $7.6 billion, a 24.5% increase over the same quarter in 2020. US Foods also reported 2021 year-end sales of $29.5 billion, a 28.8% increase over the previous year. For 4Q, gross profit increased 23.2% to $1.2 billion, while net income […]
Fortive to Repurchase Up to 20M Shares
The board of directors for Fortive Corp. (NYSE: FTV) of Everett, Washington, has authorized a share repurchase program that will allow the company to purchase up to 20 million shares of its common stock. Under the program, Fortive can purchase its common stock on a discretionary basis “from time to time on the open market […]
SiteOne 4Q Sales Up 19%
SiteOne Landscape Supply Inc. (NYSE: SITE) of Roswell, Georgia reported 2021 fourth-quarter net sales of more than $805 million, a 19% increase over the same period in 2020. Site One’s organic daily sales for 4Q increased by 21%, while gross profit increased 27% to $282.4 million. Fourth-quarter net income increased to $27.5 million from $11.5 […]
Resideo Acquires Arrow Wire & Cable
Resideo Technologies, Inc. (NYSE: REZI) — a global provider of security solutions and commercial and residential security and audio-visual products — has acquired privately held Arrow Wire & Cable, based in Chino, California. Financial terms were not disclosed. The deal is the second datacom and security acquisition for Resideo’s ADI Global Distribution in the past […]
Pool Corp. 4Q Sales Reach $1B
Covington, Louisiana-based Pool Corp. (Nasdaq/GSM:POOL) reported 2021 fourth-quarter sales of $1 billion, while year-end sales reached $5.3 billion. Both the 4Q and year-end sales totals were company records. The annual net sales total was 35% higher than in 2020, the company said. Pool Corp. also reported operating income of $832.8 million, up 79% from 2020, […]
Ace Hardware Yearly Revenue Up 10.7%
Oak Brook, Illinois-based Ace Hardware Corporation reported “record” 2021 fourth-quarter revenues of $2.1 billion — an increase of 0.7% over the same quarter a year ago — while total year-end revenues topped $8.6 billion. The year-end revenues were 10.7% above 2020. Full-year 2021 net income reached $330 million, an increase of 4.1% on top of […]
JGB Enterprises Rebrands as Echelon Supply and Service
Liverpool, New York-based JGB Enterprises, Inc. — a company backed by HCI Equity Partners — will now be known as Echelon Supply and Service, the company announced. The move was part of an evolving consolidation effort and comes roughly six months after the company made a key Canadian acquisition. “When JGB Enterprises acquired HosePower Canada […]
Global Industrial: Sales Up Overall Despite Down 4Q
Global Industrial Company (NYSE:GIC) of Port Washington, New York, reported consolidated sales in the fourth quarter of 2021 decreased 4.3% to $262 million compared to 2020, but overall annual sales increased 3.3% to $1.06 billion. The 4Q of 2021 had 61 selling days, five fewer days than the same quarter in 2020. Sales increased 3.5% […]
MRC Global Yearly Sales Top $2.6B
MRC Global Inc. reported 2021 year-end sales of $2.66 billion, a 4% increase over 2020. The pipes, valves and fittings distributor also reported 2021 fourth-quarter sales of $686 million, an 18% increase over the same period in 2020. For the year, adjusted EBITDA was $146 million, 5.5% of sales, a 51% improvement over 2020. In […]
Gryphon Investors Acquires Benoist Brothers
Middle-market private equity firm Gryphon Investors has acquired Benoist Brothers Supply Co., a Midwest-based regional distributor of HVAC/R equipment, parts and supplies. Financial terms were not disclosed. Gryphon said it plans to operate the Company as an independent division of its Wittichen Supply Holding Company under the Benoist brand, alongside existing portfolio company Wittichen Supply […]
US Foods to Split CEO, Chair Roles
US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the country, will separate the roles of CEO and chair, the company announced. The change was made following a governance review by the company’s board of directors. Robert M. Dutkowsky, currently US Foods’ independent lead director, has been elected non-executive chair. Pietro […]
WESCO Reports ‘Record’ 4Q Sales
WESCO International Inc. (NYSE: WCC), Pittsburgh, Pennsylvania, reported “record” fourth-quarter sales to close out 2021. The company had $4.9 billion in sales during the quarter, a 17.5% increase over the same period in 2020. The company also reported 4Q operating profit of $220.3 million, as well as record net income attributable to common stockholders of […]
Genuine Parts Increases Dividend 10%
Genuine Parts Company (NYSE: GPC) announced a 10% increase in the regular quarterly cash dividend for 2022, marking the 66th consecutive year it has increased the dividend. The GPC Board of Directors increased the cash dividend payable to an annual rate of $3.58 per share compared with the previous dividend of $3.26 per share. The […]
Sysco Closes Acquisition of Coastal Companies
Foodservice distributor Sysco Corp. (NYSE: SYY) of Houston has completed its acquisition of The Coastal Companies, a leading fresh produce distributor and value-added processor based in Laurel, Maryland. The deal previously was reported in December. Financial details were not disclosed. “The acquisition will operate as part of FreshPoint, Sysco’s specialty produce business, and enables FreshPoint […]
White Cup Exec Outlines KPIs to Improve Customer Approach, Grow Margins
The wholesale trade industry experienced an impressive 2021 in the shadow of lingering disruptions caused by supply chain issues and the protracted COVID-19 pandemic. Despite those headaches, the industry pulled in more than $7 trillion dollars in revenues — a 22% increase over the prior year — as 2021 ended an exceptional demand year for […]
