WAYNE, Pa. — AD, the contractor and industrial products wholesale buying/marketing group, reported a 7% increase in member sales, across 12 AD divisions, totaling $10.2 Billion. Purchases from AD suppliers grew by 8% in Q1.
On a same-store basis, by business unit, Q1 PHCP sales were up 5%; Industrial/PT sales were up 4%; Electrical sales were up 3%; Building Materials was up 5%. By country, same-store sales in the US grew 5%; Canada was up 3% and Mexico grew 5%.
Bill Weisberg, AD’s Chairman and CEO commented on the results, “Coming off record-breaking back to back years we are pleased with the growth we achieved in Q1. Canada was a little softer than expected as were parts of our US Electrical operations. However, our industrial, HVAC and PVF businesses were well above plan. Our membership is growing organically. We are adding far more members than we are losing to consolidation. This enables us to invest back into the business with new member services. The trajectory looks good.”
Tagged with AD, Biggest News, earnings, financial