Below is a rundown of how public companies in distribution performed during the third quarter. The list includes companies across a variety of verticals and includes some manufacturers pertinent to this space.
Click the company name for more details on their quarterly earnings, including year-to-date performance.
Also of note: The following companies were sold in recent months and no longer report earnings — Foundation Building Materials Inc., HD Supply Holdings Inc., BMC Stock Holdings Inc. and Houston Wire & Cable.
- 3M (NYSE: MMM) — The St. Paul, Minnesota-based company reported first-quarter revenues of $8.9 billion, by close to 10% year-over-year. Net income increased 23.7% to $1.62 billion.
- Applied Industrial Technologies Inc. (NYSE: AIT) — The Cleveland, Ohio-based distributor reported sales for the fiscal third quarter of $840.9 Million, which marked a 1.2% year-over-year increase. Applied’s net income of $56.1 million was up from a loss in the same quarter a year ago.
- Arrow Electronics Inc. (NYSE: ARW) — The Centennial, Colorado-based electronic components distributor reported revenue for the first quarter rose 31.3% to $8.4 billion. Profit of $206.3 million was up threefold from $49.5 million in the year-ago period.
- Avnet Inc. (Nasdaq: AVT) — The Phoenix, Arizona-based distributor reported sales for the fiscal third quarter ended April 3 of $4.9 billion, up 14.1% year-over-year. Profit for the quarter was $107.5 million, up from a loss of $128.7 million in the year-ago fiscal third quarter.
- Beacon Roofing Supply Inc. (Nasdaq: BECN) — The Herndon, Virginia-based building materials distributor reported revenues for the fiscal second quarter of $1.3 billion, a 10.1% increase from the same quarter a year ago. The company reported a profit of $22.1 million, up from a loss of $22.4 million the year prior.
- BlueLinx Holdings Inc. (NYSE: BXC) — The Marietta, Georgia-based building materials distributor reported sales of $1 billion in the first quarter, up 58% from the same quarter a year ago. BlueLinx also reported a profit of $61.9 million, up from a loss of $0.8 million in the prior-year period.
- Builders FirstSource Inc. (Nasdaq: BLDR) — The Dallas-based building materials distributor reported sales of $4.2 billion for the first quarter, up 133.6% due to its recent merger with BMC Stock Holdings. Net income of $172.6 million was up significantly from $56.9 million in 1Q 2020.
- DXP Enterprises Inc. (NASDAQ: DXPE) — The Houston-based MRO and industrial distributor reported first-quarter sales of $245.6 million, down 18.4% compared to the first quarter of 2020. The company reported a profit of $0.3 million, down from a profit of $5.6 million in the year-ago period.
- Fastenal Co. (Nasdaq: FAST) — The Winona, Minnesota-based company reported first-quarter sales of $1.4 billion, a 3.7% increase compared with the same period a year ago. Quarterly profit was $210.6 million, also a 3.7% increase compared to the year-ago period.
- Ferguson (NYSE: FERG) — Ferguson reports fiscal third-quarter earnings on June 8.
- Genuine Parts Co. (NYSE: GPC) — The Atlanta-based parent of Motion — what GPC calls its “industrial parts group” — reported that the distributor’s first-quarter sales of $1.5 billion were up 0.1% year-over-year and represented 34% of total company revenues (the same as the prior quarter).
- Huttig Building Products Inc. (Nasdaq: HBP) — The St. Louis, Missouri-based building materials distributor reported sales of $214.7 million in the first quarter, up 5.8% from the first quarter of 2020. Net income of $8.1 million was up from a loss of $8.9 million a year ago.
- Lawson Products Inc. (Nasdaq: LAWS) — The Chicago-based MRO distributor reported first-quarter sales of $103.6 million, up 13.8% compared to the first quarter of 2020. Net income of $3.6 million, however, was down significantly from $12.5 million in the year-ago period.
- MRC Global Inc. (NYSE: MRC) — The Houston-based pipes, valves and fittings distributor reported first-quarter revenue of $609 million, up 5% higher from 1Q 2020. The company posted a first-quarter loss of $9 million, down from a profit of $3 million in the same period a year ago.
- MSC Industrial Supply Co. (NYSE: MSM) — Industrial distributor MSC Industrial Supply Co. (NYSE: MSM), Melville, New York, reported sales of $774 million for its fiscal second quarter, a 1.5% decrease compared to the year-ago period. Quarterly profit was $18.1 million, a 67.4z% decrease compared with the second quarter last year.
- NOW Inc. (NYSE: DNOW) — The Houston-based distributor reported sales for the first quarter of $361 million, a 40.2% decrease from the same period a year ago. The company reported a loss of $10 million, compared to a loss of $331 million in the year-ago quarter.
- Pool Corp. (Nasdaq: POOL) — The Covington, Louisiana-based distributor of swimming pool and related backyard products reported first-quarter revenue of $1.1 billion, up 56.6% from the year-ago quarter. Net income of $98.7 million was more than triple its year-ago profit of $30.9 million.
- SiteOne Landscape Supply Inc. (NYSE: SITE) — The Roswell, Georgia-based landscape supply distributor reported sales for the first quarter of $650.2 million, up 41.4% from the same period a year ago. The company posted a profit of $7.4 million, up from a loss of $17.5 million in 1Q 2020.
- Systemax Inc. (NYSE: SYX) — The Port Washington, New York-based parent of Global Industrial reported sales for the first quarter of $251.1 million, up 10.5% from the year-ago period. Profit declined 33.7% to $5.5 million.
- United Rentals Inc. (NYSE: URI) — The Stamford, Connecticut-based company reported revenue of $2.1 billion in the first quarter, down 3.2% from a year ago. Rental revenue of $1.6 billion was down 6.5%. The company’s net income was $203 million in 1Q, up 17.3% year-over-year.
- Watsco Inc. (NYSE: WSO) — The Miami-based HVACR distributor reported first-quarter sales of $1.1 billion, up 12.7% from the year-ago quarter. Profit increased 80.6% to $55.1 million.
- WESCO International Inc. (NYSE: WCC) — Thanks to its 2020 acquisition of Anixter, the Pittsburgh, Pennsylvania-based electrical distribution giant reported first-quarter sales of $4 billion, doubling its revenue from the same period a year ago. On a pro forma basis, WESCO sales grew 3.2% in the period. The company reported a profit of $74.1 million, which also roughly doubled its profit of $38.3 million in the year-ago period.
- W.W. Grainger Inc. (NYSE: GWW) — The Chicago-based distributor reported first-quarter sales of $3.1 billion, up 2.8% compared to the year-ago quarter. Grainger’s profit increased 37.6% to $238 million.
*Not all public distributors or companies relevant to the distribution space are included in this roundup. We will continue to build out this list in the coming quarters.
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