WAYNE, Pa. – AD reported a 10% increase in Member sales, across 12 AD divisions, totaling $30.8 Billion through the first nine months of the year. Purchases from AD Suppliers also grew by 13% YTD. Projections put AD Member sales surpassing the $40 Billion milestone in 2018.
On a Same Store basis, by industry, Q3 YTD PHCP sales were up 13%; Industrial / PT sales were up 11%; Electrical sales were up 9%; and Building Materials was up 5%. By country, same store sales in the U.S. grew 10%; Canada was up 8% and Mexico grew 14%.
Bill Weisberg, AD’s Chairman and CEO comments on the results, “AD Members continue to take share and the AD 9-month results reflect the hard work they are doing in their markets to take care of their customers, employees and families. AD’s operating expenses continue to be managed at a level below investment income resulting in the 100% distribution of rebates on a consolidated basis.”
Weisberg continues, “Q3 was a busy one for us at AD, we completed our 8th merger, doubling the size of the AD Bearings & Power Transmission division, we broke attendance records at all our Fall meetings, we introduced new HR and Procurement Service Providers and AD eCommerce Solutions built close to one million more SKUs, now closing in on 4 Million normalized and attributed SKUs for AD Members to use on their Digital Branches. Perhaps the biggest highlight of Q3 was the organization successfully transitioned to being Member owned. I couldn’t be prouder of the hardworking 90+ AD Associates who come to work every day dedicated to our mission to provide independent distributors and our supplier partners with support and resources to accelerate growth and outperform the market.”Tagged with AD, earnings, financial