HD Supply reports flat Q2
Facilities maintenance sales rise just 1.2%.
HD Supply Holdings, the Atlanta-based industrial distributor, reported second quarter 2019 net sales increased 1.25% to $1.62 billion from second quarter 2018 net sales of $1.60 billion.
The company also reported a second quarter net income of $135 million, a 3.1% increase from a net income of $131 million for the same period a year ago.
Facilities maintenance net sales increased 1.2%, to $830 million for the quarter. Construction & Industrial sales rose $1.8% to $795 million for the period.
The Bottom Line: Sales and earnings are nearly flat in the second quarter for North America’s largest industrial supplier.
What the CEO said: “Despite a difficult start to 2019, I am proud of our more than 11,500 HD Supply associates who continue to provide exceptional service to our customers,” said Joe DeAngelo, chairman and CEO of HD Supply. “We remain confident in our ability to create value by focusing on what we can control, providing the best customer service in the industry, generating strong free cash flow and executing on our capital allocation strategy.”
Company info: The full second quarter 2019 report from HD Supply Holdings can be read here.
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