ABC Supply adds Pennsylvania unit
Roofing distributor ABC Supply will open a new store in Carnegie, Pa., on Aug. 1. The 42,000-sq.-ft. facility will contain a warehouse and showroom space in two buildings. Designed to serve residential and commercial construction professionals, the new store will carry a complete assortment of low-slope and steep-slope roofing materials, siding, windows, doors, gutter, decking and related tools and equipment.
The new location will be ABC Supply’s second in the Pittsburgh metropolitan area, the other being in North Huntingdon, Pa. The company has 13 additional branches located throughout Pennsylvania.
Headquartered in Beloit, Wis., ABC Supply has more than 450 branches in 45 states and is one of the largest exterior building products in the United States.
PulteGroup posts strong Q2
Bloomfield Hills, Mich.-based PulteGroup posted second-quarter net income of $42.4 million, compared with a net loss of $55.4 million in the year-ago period.
Total revenue from the second quarter ended June 30 totaled $1.07 billion, up 15% from $927.21 million in the second quarter of 2011. Higher revenue for the period was driven by an 8% increase in average selling price to $268,000, combined with a 5% increase in closings to 3,816 homes.
"Our second-quarter results showed significant gains as home-building operating margins expanded by more than 600 basis points, net income improved by $98 million, and we continued to benefit from our strategic pricing strategies, improved construction efficiencies and further reductions in finished spec home inventory," said Richard Dugas Jr., chairman, president and CEO of PulteGroup.
"Consistent with our focus on capital discipline, PulteGroup’s 32% increase in second quarter signups were generated from 7% fewer communities. By using our existing land assets more efficiently, allocating capital more effectively and managing finished spec inventory more tightly, we continue to position the Company to deliver improved long-term returns."
Net income for the six months ended June 30 totaled $30.8 million, compared with a net loss of $94.9 million in the prior-year period.
Revenue for the six-month period totaled $1.95 billion, up 13% from $1.73 billion in the six-month period of 2011.
Congressional bill addresses safety in building codes
Testifying before Congress about a lack of safe building codes in some states, the Insurance Institute for Business & Home Safety urged legislators to pass a bill that would provide incentives for adopting updates to the International Residential Code (IRC).
“Every region of our country is vulnerable to one or more potentially devastating natural hazards, which is why improving disaster mitigation, preparedness, response and recovery must be a national priority,” said Julie Rochman, IBHS president and CEO. “HR 2069 is important legislation that provides a vehicle to put scientific knowledge about the proven benefits of building codes to work, which will significantly improve our nation’s safety and resilience.”
Also called the “Safe Building Code Incentive Act,” HR 2069 would provide qualifying states with an additional 4% of funding available for post-disaster assistance if they adopt and enforce the IRC from one of the last two cycles it was updated, which are 2012 and 2009.
Specifically, Rochman mentioned the importance of a continuous load path in the construction of residential and commercial buildings and the need for strapping to connect the roof to the foundation.
Rochman also showed the Transportation and Infrastructure Subcommittee a video of wood-frame houses being subjected to wind speeds and gusts up to 120 mph at the IBHS Research Center. During this test, the roof of the home built using conventional construction practices lifted off entirely under the force of about 95 mph winds. The loss of the roof caused total destruction of the home only moments later.
The IBHS recently evaluated the building codes in 18 hurricane-prone states along the Atlantic Coast and Gulf of Mexico. The resulting report, “Rating the States: An Assessment of Residential Building Code and Enforcement Systems for Life Safety and Property Protection in Hurricane-Prone Regions,” can be viewed by clicking here.