Inflation Springs Leak in Plumbing Supply Giant’s Profit

Some plumbing problems can be handled on a DIY basis, but most require a licensed professional plumber. Dreamstime/TNS

Plumbing supply distributors saw increases in revenue while net earnings remained flat in fiscal 2023, reflecting the impact of higher cost of goods.

Reece said its revenue for the 12 months to June 30, 2023 rose 16 percent to $8.84 billion (US$5.72 billion) from $7.65 billion.