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HARDI Distributors Report 21.4% Percent Revenue increase in December

February 04, 2021

Heating, Air-conditioning & Refrigeration Distributors International (HARDI) released its monthly TRENDS report, showing the average sales performance by HARDI distributors was an increase of 21.4% percent during December 2020.

HARDI Distributors report chart December 2020The average annual sales growth for the 12 months through December 2020 is 4.1% percent.

“What a great way to end a challenging year!” said HARDI Market Research & Benchmarking Analyst Brian Loftus. “This December was helped by an extra billing day but even adjusting for that the sales growth would have been in the 16% area against 7.4% last year.”

The Days Sales Outstanding (DSO), a measure of how quickly customers pay their bills, is 44.5 days. “It looks like DSO has settled back to normal after being unusually brief this summer,” said Loftus. “This level is comparable to December in 2017 and 2018.”

“While the health challenges and the employment disruption are heartbreaking, much of the economy keeps churning along,” said Loftus. “Q4 GDP was up 4% after a 30% decline six months ago, low mortgage rates have the housing market soaring, and the latest Industrial Production report was stronger than expected. It all seems fragile and temporary until there is broad distribution of potent vaccines.”

HARDI members do not receive financial compensation in exchange for their monthly sales data and can discontinue their participation without prior notice or penalty. Participation is voluntary, and the depth of market coverage varies from region to region. An independent entity collects and compiles the data that can include products not directly associated with the HVACR industry.


HARDI (Heating, Air-conditioning and Refrigeration Distributors International) is the single voice of wholesale distribution within the HVACR industry.

HARDI members market, distribute, and support heating, air-conditioning, and refrigeration equipment, parts and supplies. HARDI Distributor members serve installation and service/replacement contractors in residential and commercial markets, as well as commercial/industrial and institutional maintenance staffs. HARDI proudly represents more than 480 distributor members representing more than 5,000 branch locations, and close to 500 suppliers, manufacturer representatives and service vendors.