HARDI Pulse Survey: Recovery Week 1 Results

BY Sarah Jilbert & Tim Fisher
6/18/2020 - COVID-19

We sent out our first HARDI Pulse Survey: Recovery on Friday, June 12th, to see how the industry has been recovering since the COVID economic shutdown.

Note that these results are not statistically significant but provide a general “pulse” of where the industry sits.

Overview Snapshot (108 participants)

Projected Performance

  • 44% of participants indicated their 2020 summer performance will be better than summer of 2019, 30% indicated 2020 summer performance will be the same as 2019 and 25% indicated 2020 performance will be worse than summer 2019.
  • On average, participants projected year end 2020 sales performance to be pretty even at 1% down compared to year end 2019 sales. Answers ranged from projected end of year sales being 30% down to 20% up compared to 2019.

Profitability

  • 32% of participants stated their profitability was positive throughout COVID
  • 35% stated their profitability was break even throughout COVID
  • 33% stated their profitability was negative throughout COVID

Segment Trends

  • 16% of participants have been seeing more repair jobs during/after COVID, 30% are seeing more replacement jobs and the remaining 54% are seeing equal repair and replacement jobs.
  • 11% of participants indicated residential new construction is faring above normal, 40% indicated it’s faring normal and 49% indicated it’s below normal.
  • 6% of participants indicated commercial new construction is faring above normal, 36% indicated it’s faring normal and 58% indicated it’s below normal.

HR

  • On average, 92% of participant’s employees have returned to work including employees who have been working from home and furloughed employees. Responses ranged from 40% to 100% of returned employees.
  • 93% of respondents have not had any new COVID cases in the past two weeks while 7% have had new cases within their company.

Consumer Preference

  • When asked to rank customer preferred pick up options between 1 (highest) to 4 (lowest), delivery was most popular followed by counter, will call and curbside.

Regional Snapshot

Screen Shot 2020-06-18 at 8.33.07 AM

Our next HARDI Pulse Survey: Recovery, will be combined with our JP Morgan Mid-Year Survey, released Monday, June 22nd. Stephen Tusa and JP Morgan conduct a survey each summer of HARDI distributors. This survey and subsequent report with presentation helps HARDI distributors gauge the health and performance of the all-important cooling season. You receive the extensive HVAC industry report and presentation free of charge by participating.


For questions about Pulse, contact our Wholesaler Account Manager, Sarah Jilbert at sjilbert@hardinet.org.