Hardware store Ace Hardware Corporation reported second-quarter 2026 revenue of $3 billion, up 5.9% year-on-year, while net income increased to $155.6 million. U.S. retail same-store sales rose 1.1%, supported by a 3.1% increase in average transaction value, which more than offset a 1.9% decline in store transactions. The company also received $11.8 million in tariff refunds during the quarter. Source: Ace hardware

Justin Reinke to Succeed John Herrington as President of Midea America Corporation U.S.: Midea America Corporation (MAC) announced that Justin Reinke will succeed John Herrington as President, officially assuming the role on November 1, 2026, following a planned transition period with Herrington. Reinke joined Midea in 2024 as Head of Sales and became Head of Product Marketing in 2025, bringing more than 20 years of industry experience, including leadership roles at Samsung a

House renovation USA: The NAHB State Projections of Remodeling (SPR) indicates continued momentum in U.S. remodeling activity, with California, Texas and Florida emerging as the largest state markets by remodeling expenditure, followed by New York and North Carolina. Meanwhile, Michigan recorded the strongest increase in remodeling spending, with notable gains also reported in Virginia, North Carolina, Alabama and Washington. The trend highlights sustained remodeling activity

Ferguson Reports Stronger Second-Quarter Performance USA: Ferguson Enterprises reported solid results for the second quarter ended 30 June 2026, with sales rising 4.6% to US$8.8 billion. The company recorded strong growth in the non residential market and returned to growth in residential demand despite challenging market conditions. Ferguson completed five acquisitions during the quarter and agreed to acquire FloWorks, strengthening its technical distribution capabilities. T

Home Depot's SRS to Acquire Lohmiller, Expanding HVAC Network USA: SRS Distribution, a wholly owned subsidiary of The Home Depot, has agreed to acquire Lohmiller & Company, a Colorado-based wholesale distributor of HVAC equipment, parts and supplies. Financial terms were not disclosed. Founded in 1990, Lohmiller distributes Carrier’s residential, light commercial and applied HVAC products through four locations and employs around 220 people. The acquisition follows SRS’s rece

SRS Distribution Expands HVAC Business with Lohmiller Acquisition UNITED STATES: SRS Distribution has agreed to acquire Lohmiller & Company, a Colorado-based wholesale distributor of HVAC equipment, parts and supplies serving residential and commercial customers. Financial terms were not disclosed. Founded in 1990 and headquartered in Denver, Lohmiller operates four locations and employs around 220 people. The company distributes Carrier’s residential, light commercial and ap

Home Depot Restructures Leadership to Support Growth Strategy US: The Home Depot has announced a series of leadership portfolio changes aimed at streamlining its operations and supporting its strategy to increase its share of the home improvement market. The organisational changes include the alignment of leadership responsibilities across merchandising, loyalty, finance, professional (Pro) business, and technology. Earlier this year, the company appointed Fran Bell as Execut

US Housing Market Shows Seasonal Slowdown in July US: The US housing market continued its expected seasonal slowdown in July 2026, with sellers making more price reductions while buyer activity remained positive. The national median listing price stood at USD 428,950 in July, unchanged from June but 2.4% lower than a year earlier, marking the ninth consecutive month of annual price declines. The proportion of listings with reduced prices increased to 20%, while pending home s

Canada and Toronto Announce Investment for Rental Housing Projects Canada: The Government of Canada and the City of Toronto have announced a partnership to support the construction of more than 5,600 rental homes across over 18 housing projects during the next three years. Under the initiative, the federal government will invest more than CAD 2.7 billion (approximately USD 1.97 billion), with construction on more than 4,500 homes expected to begin before the end of 2026. The

Bipartisan Bill Proposes Indoor Air Quality Review for US Federal Buildings US: A bipartisan group of lawmakers has introduced the Federal Facilities Indoor Air Quality Assessment Act, which would require a comprehensive review of indoor air quality (IAQ) and HVAC system performance across federal buildings. The proposed legislation follows hazardous wildfire smoke that affected air quality in the Washington, D.C. region and seeks to assess whether federal facilities meet app

HVAC Subscription Model Gains Adoption Among Contractors US: HVAC contractors are increasingly adopting subscription-based business models that provide homeowners with equipment, maintenance, repairs and ongoing support through monthly payments instead of one-time equipment purchases. The approach is intended to provide customers with predictable monthly costs while enabling contractors to generate recurring revenue and maintain longer-term customer relationships beyond tradi

New US Tariffs May Increase HVAC Equipment Costs US: New tariffs introduced by President Donald Trump impose duties of 10% to 12.5% on imports from 60 countries, which may increase the cost of imported HVAC equipment and components. The measures were implemented under Section 301 following investigations into forced-labour enforcement practices after the US Supreme Court ruled that a global import surcharge under the International Emergency Economic Powers Act could not be im

US DOE Proposes Changes to Energy Standards Process for HVAC Equipment US: The US Department of Energy (DOE) has issued a Notice of Proposed Rulemaking to revise the process used to establish federal energy conservation standards for household appliances and equipment, including air conditioning systems. According to the DOE, the proposal aligns with President Donald Trump's Executive Order, Unleashing Prosperity through Deregulation, and would modify the process used to deve

Rinnai Water Heater CANADA: Rinnai has been recognised as the leading brand in Canada's residential gas tankless condensing water heater market, according to the 2026 North American Heating and Cooling Markets Report by BRG Building Solutions. The company's strong market position has been supported by continued investment in high-efficiency products, expanded distribution and enhanced contractor support. Its SENSEI RX Series offers high energy efficiency, smart recirculation

Fogatti Partners with Ranger Distribution in North America North America: Ranger Distribution Inc. has entered into a distribution agreement with Fogatti to supply the company's RV product portfolio across North America. Under the agreement, Ranger Distribution will distribute rooftop air conditioners, ranges, cooktops, range hoods and KingRVer water heaters to RV original equipment manufacturers (OEMs) and industry partners. The partnership expands the availability of Fogatt

Alps Controls Expands HVAC Controls Portfolio Through Copeland Distribution Partnership UNITED STATES: Alps Controls has entered into a distribution agreement with Copeland to expand its portfolio of HVAC controls and temperature management products. The partnership adds Copeland's range of electronic temperature controllers, communicating and non-communicating thermostats, thermostat accessories, and protective enclosures to the Alps Controls online marketplace. The expanded

Mitsubishi Electric to Invest US$30 Million in Ohio IT Cooling Manufacturing Facility UNITED STATES: Mitsubishi Electric has announced plans to establish MEHITS US, Inc. in Mason, Ohio, to manufacture IT cooling equipment for the rapidly expanding U.S. data centre market. The company will invest approximately US$30 million to renovate and repurpose part of an existing manufacturing facility, with production scheduled to begin in April 2027. The new plant will strengthen Mitsu

Pentair to Acquire Taco Group for US$1.4 Billion to Expand HVAC Portfolio UNITED STATES: Pentair has announced plans to acquire Taco Group Holdings, the parent company of HVAC equipment manufacturer Taco Inc., in a transaction valued at approximately US$1.4 billion, subject to customary adjustments. The acquisition will strengthen Pentair's portfolio of water management solutions, increasing its exposure to high-growth markets including HVAC and data centres, primarily in Nor

AO Smith Reports Stable Q2 Sales, Reaffirms 2026 Outlook UNITED STATES: AO Smith reported second-quarter 2026 net sales of US$1.0 billion, broadly unchanged from the previous year, while adjusted earnings per share declined 4% to US$1.03. North America sales increased 5% to US$821 million, supported by 3% organic growth, a 21% increase in boiler sales and a US$16 million contribution from the Leonard Valve acquisition. In contrast, Rest of World sales fell 19% to US$195 milli

Carrier Raises 2026 Outlook Following Strong Q2 Performance UNITED STATES: Carrier Global Corporation reported second-quarter 2026 revenue of US$6.35 billion, up 4% year-on-year, supported by strong global orders, particularly in commercial HVAC and data centres. Adjusted earnings per share reached US$0.86, while operating cash flow totalled US$927 million and approximately US$640 million was returned to shareholders through dividends and share repurchases. Despite margin pre