HD Supply sales up 5.1% for 3Q
HD Supply Holdings reported net sales of $2.0 billion for the third quarter of fiscal 2015, an increase of 5.1 percent compared to the third quarter of fiscal 2014.
“I am very pleased with the team’s performance in the third quarter. We delivered 5 percent sales growth, 15 percent Adjusted EBITDA growth and 61 percent Adjusted Net Income per Diluted Share growth despite a challenging environment,” said Joe DeAngelo, chairman and CEO of HD Supply.
Net income increased to $250 million for the quarter compared to $60 million for the third quarter of fiscal 2014. Net income included $186 million pre-tax gain on the sale of the Power Solutions business unit and $100 million loss on extinguishment and modification of debt. Net income per diluted share increased $1.24 compared to 30 cents in the third quarter of fiscal 2014.
Business Unit Performance
Facilities Maintenance net sales increased 8.5 percent to $716 million in the third quarter of fiscal 2015 as compared to $660 million in the third quarter of fiscal 2014.
Waterworks net sales increased 1.4 percent to $705 million in the third quarter of fiscal 2015 as compared to $695 million in the third quarter of fiscal 2014.
Construction & Industrial - White Cap net sales increased 9.7 percent to $451 million in the third quarter of fiscal 2015 as compared to $411 million in the third quarter of fiscal 2014.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
