- OIL & GAS
Organic sales in the second quarter increased 9 percent, including 6 percentage points from volume and
3 percentage points from price. Acquisitions contributed 5 percentage points and foreign exchange subtracted 2 percentage points from the sales growth. On a daily basis, sales increased 12 percent in April, 13 percent in May and 12 percent in June.
For the first six months of 2012, sales were $4.4 billion, up 14 percent over the same period a year ago. Profit increased 15 percent to $378 million.
Sales for the United States segment increased 7 percent in the 2012 second quarter versus the prior year. The 7 percent sales growth for the quarter was driven by 4 percent volume growth and 3 percentage points from price. Daily sales were up 7 percent in April, 8 percent in May and 7 percent in June. For the quarter, the heavy manufacturing, light manufacturing, retail, commercial, government, natural resources and reseller end markets all posted sales growth versus the 2011 second quarter, while the contractor end market posted a small decline.
Quarterly operating earnings in the United States increased 15 percent versus the prior year. Expense leverage in the United States was positive despite an incremental $24 million in growth-related spending on new sales representatives, eCommerce and advertising.