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Message From The Editor
Lessons, assessments and perspectives emerging as we hopefully near the pandemic’s end
Nearly 500 days living in the shadow of COVID-19. The most recent figures on business openings and closures published in this issue are interesting to consult, but other angles are also possible to study the impacts of the COVID. As CEW Publisher John Kerr points out, the COVID era may be defined as the period during which we have accelerated, moved, pivoted, and managed for the most part to save a year of anticipated prosperity with only a nominal loss. Let’s hope that lessons learned the hard way will be put into practice for years to come. Much more to read in this issue, including acquisitions and mergers. As a bonus, an overview of second quarter financial results for companies listed on the stock exchange. Good reading!
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Best Practices — Market Trends
488 Days: Thoughts on the COVID Period — March 17, 2020 to July 17, 2021
By John Kerr
Looking back to early 2020, the industry entered the first quarter with a sense of a solid year ahead, one that would easily eclipse 2019, and then in mid-March the brakes went on and relatively quickly. On both the supplier and distribution sides, many took a reactionary stance and then quietly planned their next moves. Thinking differently, adding stock and doubling down on inventory, looking at alternative shipping methods and figuring out how to stay close to the customer are among the attributes of those that pivoted well and have come out of the dark in great shape. This time has prompted new thoughts and new mindsets, and like the financial setbacks of years before perhaps this time we may remember and be managed by this more than ever before. Moving to adopt online and digital strategies were quickly the rage. In fact, on one day alone in late June 2020 we counted 36 webinars taking place. Many suppliers and distributors added to their marcom budgets, and the ad spend increased across the board replacing travel and entertainment expenses with good old fashioned marketing methods that drove awareness.
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Workforce Training
Filling the Gap: EFC’s Industry Playbook
In the time that I joined the electrical industry almost four years ago, and the EFC team in June 2019, the pattern of season professionals embarking on the next chapter of their lives has become more evident. Through member engagement meetings run by EFC’s management team, our statistics department’s membership surveys and various research programs, it has become apparent across all channels that there is a precipitously widening gap to be filled. “Talent availability” is a top game changer affecting our industry. EFC continues to develop programs to assist members with talent attraction, engagement and development. As our industry faces significant changes of various forms, it is important to upskill our new and existing talent so they are armed with the market insight needed to navigate through a time of transformation; the changes our industry is undergoing requires the most resilience. EFC’s interactive Electrical Industry Playbook training module supports the professional development of your team.
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Data Management
Canadian Data Governance Standardization Roadmap
The Canadian Data Governance Standardization Roadmap tackles the challenging questions we face when we talk about standardization and data governance. It describes the current and desired Canadian standardization landscape and makes 35 recommendations to address gaps and explore new areas where standards and conformity assessment are needed. SCC established the Canadian Data Governance Standardization Collaborative in 2019 to accelerate the development of industry-wide data governance standardization strategies.
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Looking Back
Toward the Next 50 Years
The last 50 years have been exciting ones for the electrical industry but they won’t compare to what is going to happen in the next decade, let alone the next half century. While electronics will be the buzzword of the 1980s, the future structure of the distribution industry is less of a certainty. Some predict distributors will become more…
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One Particular Counter
Vallen on the Move in Fort St, John, BC
After operating out of a small branch in Fort St. John, BC for four years, Vallen has moved to a larger branch more suitable to its growing operations. With local success Vallen has invested in a longer-term branch location with lots of room to grow. The new location is at 8916 109 St., Fort St. John, BC V1J 6H4; 250-262-7445.
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Survey Says
HR Manager Pay by Experience Level
HR managers with 20+ years of experience earn alm ost 40% more than managers with one year of experience. See how much respondents in three other levels of experience earn.
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Economy
Wholesale Sales Continue to Rise
Sales of wholesale goods rose 0.5% in May to $72.2 billion, the third consecutive monthly increase. More than 95% of the gain came from the food, beverage and tobacco subsector, which reported growth of 2.7%. Sales were higher in four of the seven subsectors, representing 72% of total wholesale sales. Wholesale volumes fell 0.3% in May, although the sector remained strong over the year leading up to May 2021. Since reaching a low of $49.0 billion in April 2020, during the COVID-19 pandemic, sales have risen in 11 of the 13 months. In May 2021, they were 11.0% higher than the pre-pandemic level in February 2020. The 10 months with the highest sales of all time in the sector were the 10 months from August 2020 to May 2021, with May 2021 being the highest month on record.
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Early Spring COVID Restrictions Took a Toll on Closings and Openings
In late March and early April 2021, a sustained increase in COVID-19 cases — considered to be the third wave of the pandemic — was noted in several provinces. As public health restrictions were tightened in many jurisdictions, the number of business closures increased by 1.9% in April. This was the smallest percentage increase in monthly closures since January 2020 despite the lockdown in many provinces, suggesting that recent restrictions had little impact on closures. The number of business openings fell 8.2% in April after two consecutive months of positive growth. However, the April level is comparable to pre-pandemic levels (41,600 on average). The number of active businesses grew 0.9% in April, as openings remained above closures.
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People in the Industry
- Liteline Promotes Grant Copithorn to Outside Sales
Grant joins Liteline’s Outside Sales Representative Team for the Greater Toronto Area. “With over 30 years of industry experience and 18 years being in sales, Grant is well equipped to take on our GTA accounts and share his electrical knowledge,” says Ontario Regional Sales Manager, Paul Wybrow. “Being with Liteline since 2012, Grant has been a big part in the building, development, and maintenance of relationships within our sales department.”
- NEMA Appoints Debra Phillips as Next President and CEO
Phillips joins NEMA from the American Petroleum Institute, where she led the standard-setting, revenue-generating businesses and global operations division as Senior Vice President of Global Industry Services. Phillips previously served as Vice President of Sustainability at the American Chemistry Council.
- Service Wire’s Kerith Richards a Rising Star in Electrical Industry
Service Wire’s Kerith Richards has been selected as one of [IT]tED Magazine[IT]’s prestigious “30 Under 35” winners. Kerith represents some of the best and brightest in the electrical industry today. Richards has a unique dual role at Service Wire as the regional sales manager for all 10 Canadian provinces and a full-time sales rep in the U.S. Northeast.
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News from the Industry
- Guillevin Acquires McLoughlan Supplies Limited
McLoughlan is one of the largest distributors of electrical, lighting, automation, and safety products in Atlantic Canada. Founded in St. John’s, NL in 1956 by James McLoughlan, the company is currently under the leadership of his daughter Ann.
- Virtual AD Finance, HR & IT Summit Connects Members Across Three Countries, Introduces New IT-Focused Track
AD hosted its virtual Finance, HR & IT Summit on June 7-8, welcoming a record 310 attendees from 133 member companies across all of AD’s 13 divisions in Canada, the U.S. and Mexico. This summit is one of two cross-divisional and functional summits held annually, along with the eCommerce Summit, designed to extend the value of AD networking and best-practice sharing to additional disciplines within our member companies.
- Ideal Industries Partners with Resilient Sales Corp. in Northern Ontario
Effective August 1st, 2021, Resilient Sales Corp, led by its Principal Sean Atkinson, will serve as Ideal Industries (Canada) Corp.’s agency partner for the Northern Ontario region. They will be servicing Ideal’s distributor partners within the region bordered by Bracebridge to the south, Algonquin Park/Quebec border to the east, Timmins to the north, and Lake Huron/Lake Superior to the west.
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News from the Industry
- Peerless Electric Launches New Website
The new website enables visitors to explore features and benefits of the company’s wide variety of architectural lighting solutions, search for products, and find a representative near you.
- Munden Enterprises Adds Dialight to Team of Manufacturers
Dialight is a leader in LED industrial lighting technology with millions of LED fixtures installed worldwide. The company specializes in LED lighting for hazardous and non-hazardous facilities across industries, such as aerospace, chemical/petrochemical, distilleries, glass, oil and gas, pulp, paper, and packaging, paint mixing, ship building, warehouse, and more
- GE Current Introduces New Daintree Controls Software for Better Building Management
GE Current’s all-new Daintree Controls software platform allows users to manage building portfolios big and small from a single, easy-to-use interface. This web-based application empowers users to monitor, troubleshoot and report on the energy performance of indoor, outdoor and industrial spaces from a single application.
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News from the Industry
- Hammond Power Solutions Inc. Completes Acquisition of Mesta Electronics, Inc.
Hammond Power Solutions Inc. has acquired a 100% equity ownership of U.S.-based Mesta Electronics Inc. Mesta is involved in the design and manufacture of standard and custom active filter and induction heating products. Mesta will operate as Mesta Electronics Inc., a subsidiary of Hammond Power Solutions, Inc. Mesta’s annual revenues are expected to be approximately $5,000,000.
- Munden Enterprises Adds Sicame to Team of Best-in-Class Manufacturers
Sicame Corp designs and manufactures in Canada and the U.S. a complete line of quality of low and medium voltage products for transmission, distribution, tooling, sub-station and security for the local market.
- Agents of Change: Forward Together — September 29, 2021
Agents of Change is an event for stakeholders from Canada's electricity and beyond to build capacities in diversity, equity and inclusion. This one-day event will equip attendees with tools to address the challenges under-represented groups face in the workplace.
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Financial Reports
- AD Member Sales Up a Record 30% in First Six Months of 2021
AD reports member sales in the first six months of 2021 were US$28.1 billion, an increase of 30% across its 13 divisions and three countries, Canada, the U.S. and Mexico. Same-store sales were up 17%. Purchases by member companies from AD supplier partners were up 34%. Net distributions to its members were up 37%.
- Acuity Brands Achieves US$899.7 Million in Sales for Q3 Fiscal 2021
Acuity Brands, Inc. announced net sales of US$899.7 million for the third quarter of fiscal 2021 ended May 31, 2021, an increase of $123.5 million or 15.9%, as compared to the third quarter of fiscal 2020. Diluted earnings per share were $2.37, an increase of 55.9% over prior year, and adjusted diluted earnings per share was $2.77 per share, an increase of 42.8% over prior year.
- Hammond Power Solutions’ Q2 Sales Increased 17%
The sales increase, from $75.4 million in Q2 2020 to $88.3 million in Q2 2021, was just one of several positive second quarter indicators for the leading manufacturer of dry-type and cast resin transformers and related magnetics. Compared to the same time last year, bookings increased 33% and the order backlog increased 14%. Net Earnings increased 6.1% in the quarter and 6.4% year-to-date, and earnings per share increase in the Quarter to $0.40 and $0.59 year-to-date.
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Financial Reports
- ABB Reports Strong Performance in Q2 2021
“I am very encouraged that we have delivered a clearly improved performance,” says ABB CEO Björn Rosengren of the company’s second quarter results (shown in photo). “The strong upturn in operational EBITA margin reflects the recovery in demand in combination with increased internal efficiency and the strength of ABB’s electrification and automation offerings. We will continue to sharpen our focus on profitability through innovation, sustainability and digitalization, while actively managing our portfolio.”
- Signify Reports Q2 Sales of €1.6 Billion, Operational Profitability of 10.9%
“In the second quarter we saw an acceleration of the pace of recovery in comparison to the first three months of the year,” says CEO Eric Rondolat. “We successfully executed our strategy as demand for our connected lighting offers and our growth platforms remained strong.”
- Rexel Achieves Sales of €3.73 Billion in Q2 2021
“After having demonstrated our resilience during the acid test of the pandemic, our half year results that the profound transformation initiated five years ago has made Rexel a more agile company,” says Patrick Berard, Chief Executive Officer. “This allows us to fully capture the incipient recovery and adapt to the current environment, marked by price increases and growing product scarcity.
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Financial Reports
- WESCO International, Inc. Reports Second Quarter 2021 Results
WESCO International, Inc. announces its results for the second quarter of 2021. Highlights: Net sales of $4.6 billion, up more than double due to the Anixter merger Up 24% YOY on a pro forma basis, Up 14% sequentially on a reported basis.
- Strong Q2 Performance Raises GE’s Full Year Outlook
Total orders of US$18.3 billion are up 33%; organic orders are up 30%. Total revenues (GAAP) are $18.3B, a 9% increase; industrial organic revenues, $16.9B, a 7% increase (all figures in U.S.$). Increasing 2021 outlook for Industrial free cash flow range from S$2.5-$4.5B to $3.5-$5.0B. The outlook for Industrial organic revenues, margin expansion, and adjusted EPS remains unchanged.
- Littlefuse, Inc. Reports Record Results
Littelfuse, Inc., an industrial technology manufacturing company has reported financial results for the second quarter ended June 26, 2021. Net sales of US$523.5 million were driven by strong demand across a number of electronics, automotive and industrial end markets, and operational execution. GAAP operating margin was 18.4%; adjusted operating margin was 19.5%.
- Rockwell Automation Sales Up 32.6% Year Over Year
In addition to the sales increase, Rockwell reports an organic sales increase of 26.4% and record orders of over US$2 billion, up double digits year over year. “Rockwell delivered an outstanding quarter, with record orders and organic sales growth of 26% exceeding our expectations,” says Blake Moret, Chairman and CEO. “These results reflect the high demand we are seeing for Rockwell’s core automation and digital transformation solutions.”
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