Second-quarter earnings from some of the largest U.S. distributors are providing a clearer picture of where wholesale distribution is headed through the rest of 2026: Demand is improving, but the gains are concentrated and increasingly dependent on where distributors compete.

Results from W.W. Grainger, Fastenal, Wesco International, Graybar, Applied Industrial Technologies and Pool Corp. show stronger activity across industrial maintenance, data centers, electrical infrastructure, utilities, automation, and large national accounts. Distributors with greater exposure to discretionary construction and consumer spending continue to face softer conditions.

Read the full report at Distribution Strategy.