HVACR distributor sales rose 9% in September as cooling degree days climbed, HARDI says

Key points

• Sales by HVACR distributors in HARDI's monthly survey rose 9.0% in September from a year earlier, and 3.7% over the 12 months through September.
• Cooling degree days were up more than 40% from September 2025, with significant increases in five of HARDI's seven regions.
• HARDI analyst Brian Loftus said the annual pace remains within the 2.5% to 4.5% range of the past two years.
• Chemours reported third-quarter Opteon refrigerant sales of $287 million, down 22%. Solstice Advanced Materials reported refrigerant sales of $433 million, up 8%.

Sales by members of Heating, Air-conditioning & Refrigeration Distributors International rose 9.0% in September compared with September 2025, the association said Nov. 5. Sales for the 12 months through September were up 3.7%. HARDI represents more than 570 distributors with more than 5,000 branch locations.

Weather drove part of the gain. "Temps have a diminishing impact on demand as we proceed through cooling season, but they certainly had an impact this year," Brian Loftus, HARDI's senior market analyst, said in the release. Cooling degree days rose more than 40% from September 2025, with "significant increases in five of our seven regions," he said.

September was the third straight month of gains of 6% or more. Sales rose 6.7% in July and 7.6% in August, according to HARDI's July and August reports.

Monthly figures swing with the number of billing days. HARDI estimated that March's 10.4% gain would have been about 5.4% with the same number of billing days as March 2025, and June's 6.0% about 1.2%. January's 5.9% drop and May's 4.8% drop each came with one fewer billing day than the year before. The September release does not mention billing days.

Outlook

"The recent monthly sales growth has been encouraging," Loftus said, but "the annual pace remains within the 2.5% to 4.5% range of the past two years." He said "a breakout to the upside looks unlikely with existing home sales and new construction trending flat to down," along with "interest rates rising and dismal consumer confidence."

Days sales outstanding, a measure of how fast distributors' customers pay, was nearly 38 days in September, comparable to September 2024 and 2025. "The DSO ticked-up from August but we believe that reflects the normal seasonal pattern, not any market deterioration," Loftus said.

Refrigerant makers' third quarter

Two refrigerant producers reported opposite results for the quarter that ended Sept. 30.

Chemours said on Nov. 2 that net sales in its Thermal & Specialized Solutions segment fell 9% to $510 million, on 9% lower volume, according to its earnings release. Opteon refrigerant sales fell 22% to $287 million from $368 million. Freon refrigerant sales rose 6% to $100 million. Chemours said the year-earlier quarter included "the initial aftermarket channel fill associated with the stationary AC technology transition under the U.S. AIM Act." CEO Denise Dignam said the company will "continue to navigate TSS stationary aftermarket dynamics." Segment adjusted EBITDA fell 30% to $136 million.

Solstice Advanced Materials said on Nov. 4 that refrigerant sales rose 8% to $433 million from $400 million, according to its earnings release. The company cited "strong demand across automotive and data center applications." Sales in its Refrigerants & Applied Solutions segment rose 6% to $726 million. The release does not split refrigerant sales between stationary and automotive uses.

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Sources

• HARDI Distributors Report 9.0% Revenue Increase in September, HARDI, Nov. 5, 2026
• HARDI Distributors Report 7.6% Revenue Increase in August, HARDI, Oct. 13, 2026
• HARDI Distributors Report 6.7% Revenue Increase in July, HARDI, Sept. 1, 2026
• HARDI Distributors Report 6.0% Revenue Increase in June, HARDI, Aug. 5, 2026
• HARDI Distributors Report 4.8% Revenue Decrease in May, HARDI, July 6, 2026
• HARDI Distributors Report 4.5% Revenue Increase in April, HARDI, June 2, 2026
• HARDI Distributors Report 10.4% Revenue Increase in March, HARDI, May 6, 2026
• HARDI Distributors Report 4.6% Revenue Increase in February, HARDI, April 1, 2026
• HARDI Distributors Report 5.9% Revenue Decline in January, HARDI, March 5, 2026
• The Chemours Company reports third quarter 2026 results, Form 8-K exhibit 99.1, Nov. 2, 2026
• Solstice Advanced Materials third quarter 2026 results, Form 8-K exhibit 99.1, Nov. 4, 2026
• HVACR Distributor Sales Jump 9% in September, HARDI Reports, ACHR News, Nov. 5, 2026