Huttig sales up 4% in third quarter

A sharp rise in operating expenses impacts the building products distributor’s bottom line.

Huttig Building Products reported third quarter 2017 net sales of $199.6 million, up 4% from net sales $192.8 million in the third quarter 2016. Huttig attributed the increase in net sales to the general increase in housing activity.

Millwork sales were flat in 2017 at $97.6 million, compared to 2016. Building products sales increased 7% percent in the third quarter to $82.6 million primarily due to increases in sales of Huttig-Grip products. Wood product sales increased 5% to $19.4 million during the quarter.

The St. Louis-based building products distributor also reported a third quarter net income of $1.3 million compared to a third quarter net income of $4.8 million in the third quarter a year ago. Huttig attributed the decline.

Huttig reported that its operating expenses increased $4.6 million to $38.2 million in 2017, compared to $33.6 million in 2016 and said, in a statement issued this afternoon, that the increase was primarily due to higher costs as a result of hiring additional sales and warehouse personnel related to our Huttig-Grip Division and repair and remodel growth initiatives. The increase was also impacted by legal fees incurred defending its Huttig-Grip Division’s right to compete in the fastener market. 

 “We continued to make significant progress in implementing our strategic plan during the third quarter and are rapidly approaching the sales execution stage of our growth initiatives," said Jon P. Vrabely, president and CEO of Huttig Building Products.

Huttig distributes its products through 27 distribution centers serving 41 states.

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