ABC Supply opens 35th Texas unit
Beloit, Wis.-based building products distributor ABC Supply Co. will open a branch at 1631 Cooper Creek Rd., Denton, Texas, on May 5.
The new location, managed by Trent Feenker, will carry roofing, siding and gutter products, and related supplies for professional contractors, according to John Yonkin, ABC Supply’s VP southwest region.
“By locating our newest branch in Denton, we will be better able to serve the growing number of roofing contractors and other construction industry professionals who are working in this developing area of the Metroplex,” Yonkin said.
The Denton store is ABC Supply’s seventh Metroplex location and its 35th in Texas.
Simpson’s sales up 9.1% in Q1
Simpson Manufacturing scored considerable increases in both its top and bottom line in the first quarter of 2014.
Net sales for the three months ended March 31 were $168.3 million, up 9.1% from 2013’s total revenue of $154.3 million. This was largely attributed to a large increase in North American sales, as well as the Europe and Asia/Pacific segments.
In terms of net income, the company took home $12.1 million, more than double its $4.8 million income in 2013.
Wood construction product sales carried much of the momentum, the company added — making up 86% of total company sales in the first quarters of 2014 and 2013.
Strength at USG, plus profit at L&W Supply division
USG Corp. reported its strongest first-quarter results since 2007, and profitability in its L&W Supply division.
First-quarter net sales of $850 million were up 4% over the previous year period. Net income of $45 million compares with net income of $2 million in the first quarter of 2013.
“Despite the harsh winter conditions across most of the United States during the first quarter, we delivered positive operating results and net income,” said James S. Metcalf, chairman, president and CEO. “We also made significant progress with our Plan to Win by finalizing our joint venture with Boral and calling the remaining $75 million in 10% convertible notes.”
L&W Supply’s operating profit of $1 million compared with an operating loss of $2 million in the same quarter last year.
In other business unit highlights, U.S. Gypsum average wallboard prices of $166.66 per thousand square foot compared with $153.07 in last year’s quarter. Wallboard shipments improved to 1.15 billion sq. ft., up from 1.11 billion.
Metcalf added: “We believe that most of the volume lost in the first quarter due to the weather will be realized over the balance of the year.”