HD Supply – No. 4 on Industrial Distribution's 2014 Big 50 List – reported its 2015 first quarter financials on Tuesday, showing a strong rebound after taking a considerable net loss in Q4 2014.
The company reported Q1 sales of $2.22 billion, up 6.1 percent year-over-year. Net profit was $242 million, compared to a net loss of $12 million a year ago, and losses of $93 million in Q4 2014 and $66 million in Q3 2014. Operating income for Q1 was $167 million, compared to $116 million a year ago.
Sales grew across all company segments in the quarter. Revenue for HD Supply's Facilities Maintenance segment rose 5 percent to $635 million, Waterworks gained 3 percent to $570 million, Power Solutions grew 8 percent to $499 million, and sales at Construction & Industrial - White Cap rose 13 percent to $388 million.
“I am very pleased with our solid first quarter performance," said Joe DeAngelo, HD Supply CEO. “Despite adverse weather and a challenging environment, we remained focused on controllable execution to deliver profitable growth in excess of our market growth estimates while keeping our teams safe.”
Net sales for February, March and April were $630 million, $677 million and $914 million, respectively. There were 20 selling days in February, 20 selling days in March and 25 selling days in April. Average year-over-year daily sales growth for February, March and April were 6.6 percent, 5.8 percent and 5.9 percent, respectively.
Preliminary Net sales in May were $741 million, a 7.6 percent year-over-year growth. There were 19 selling days in May. Preliminary May year-over-year average daily sales growth by business is Facilities Maintenance 7.1 percent, Waterworks 3.6 percent, Power Solutions 13.4 percent, and Construction & Industrial - White Cap 10.0 percent.
The company anticipates total sales in the Q2 2015 to be in the range of $2.5 billion to $2.555 billion.