Posted November 18, 2021

Ace Hardware reports record third quarter

Ace Hardware Corporation reported record third quarter 2021 revenues of $2.0 billion, an increase of $28.1 million, or 1.4 percent, from the third quarter of 2020.

Net income was $99.3 million for the third quarter of 2021, an increase of $0.6 million from the third quarter of 2020.

“In light of last year’s extraordinary growth, and despite significant headwinds from global supply chain disruption, I’m pleased to see increases in both the top and bottom line for the quarter,” said John Venhuizen, president and CEO. “We added to 2020’s unprecedented surge in business, and our two-year stacked growth for the third quarter is up 32 percent in revenue and 64 percent in net income from 2019. The Ace team continues to serve and support in a difficult environment.”

Total wholesale revenues were $1.8 billion, an increase of 1.4 percent, compared to the prior year third quarter. Increases were seen across several departments with outdoor power equipment, basic electrical and power tools showing the largest gains.