Wholesale Change: Ferguson vs. Watsco in Plumbing, Brad Jacobs’ New $1B Bet, and Margins Under Pressure in a Strong Earnings Season
From The Wholesale Change Show · 00:53:21
Show by Jonathan Bein, Ian Heller
Plumbing is the new battleground. Ian Heller and Mark Brohan, with Mark joining from the American Supply Association show in Las Vegas, break down Ferguson’s 9.5% quarter and Flowworks deal, Watsco’s push into plumbing through The Granite Group, and Home Depot’s SRS. We also look at why profit lagged sales growth at both Ferguson and Watsco. Then we turn to Brad Jacobs, who is raising a new $1 billion vehicle as QXO posts 79% sales growth. What makes a roll-up visionary, and where do Home Depot, White Cap and private equity fit in? We also dig into earnings season. Grainger raised its guidance, Zoro grew 25% and Graybar posted a record quarter, while tariffs, copper up 35% and price increase fatigue squeeze gross margins at Ferguson, Fastenal, Watsco and Distribution Solutions Group. Plus, AI savings targets from U.S. Foods and McKesson, and a 9,000-job dip in wholesale employment. Our lightning round covers Ferguson and Watsco’s plumbing showdown, QXO’s growth, data centers, and whether a distributor can do AI without putting a dollar figure on savings. It was a big week in distribution. We break down what matters and why.
More episodes of The Wholesale Change Show
More episodes
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- Wholesale Change: MSC’s AI Pivot, Sonepar’s $563M AI Bet, and Rexel’s Data Center Surge, with Guest Co-Host Lindsay Young
- Wholesale Change: Fastenal’s Big-Account Surge, DigiKey’s 50% Growth Bet, and Two Storied Wholesalers Winding Down
- Wholesale Change: What M&A Buyers Really Want, McLane’s Driverless Trucks, and AI’s Failing Grade at the Parts Counter
- Home Depot's SRS Expansion Spree, Winsupply's Run to $10B, and Distribution's Frontline Workforce Gap
- Wholesale Change: AD Buys Back SupplyForce, Rexel's $1.4B Data Center Bet, and Is Walmart Distribution's Sleeping Giant?
- Wholesale Change: Fastenal's Secret AI Buy, Watsco's Plumbing Play, and Diesel Hits $6.28
- The Future of Value-Added Services in Wholesale Distribution
- Will B2B Marketplaces Kill Company-Specific Websites?
- Why Distributors Are So Great at Build the Wrong Websites
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