An award for 84 Lumber leader
In a high-visibility year for 84 Lumber that included Super Bowl commercials and geographic expansion, a behind-the-scenes executive recently earned recognition for his financial leadership.
The Eighty Four, Pa.-based lumberyard company’s CFO Paul Lentz was recently selected by an independent panel of judges as a 2017 recipient of the Pittsburgh Business Times “CFO of the Year” award.
Lentz’s impressive tenure with the company spans 30 years, having begun his career in 84 Lumber’s accounting department and working his way up the company’s career ladder.
“Paul has been a critical part of our success,” said Maggie Hardy Magerko, owner and president. “He is a key member of our executive leadership team and continues to find new ways to improve our business. This award is great recognition for Paul and we’re proud to have him as part of the 84 Lumber family.”
In announcing the award, the company added: “In 2010, among one of the worst housing market crashes since the Great Depression, he accepted a well-deserved, yet challenging, promotion from the company’s financial controller to 84 Lumber’s new chief financial officer. During the tumultuous market downturn in the second half of that year, he also brought an unfaltering commitment to 84 Lumber. His selection for the task, by 84 Lumber’s owner and president Maggie Hardy Magerko, was key to the company’s reemergence.”
Since Lentz’s appointment as chief financial officer, 84 Lumber has experienced increasing revenue figures year over year and a strong financial stability that has allowed the company to invest in added capabilities.
ProDealer Industry Summit Wrap Up
Phoenix – The 2017 ProDealer Industry Summit covered a vast swath of business territory, from advanced analytics to an industry forecast from Ivy Zelman. On top of it all, the event celebrated the 100th anniversary of the National Lumber and Building Material Dealers Association.
Held at The Wigwam Resort here, the ProDealer Industry Summit also celebrated the values and best practices of the LBM industry. In addition to fostering relationships and delivering education, the three-day program also generated the following headlines:
The Summit of Strategic Thinking
They might sell similar products through similar business models, but how dealers build a long-term strategy and conduct day-to-day business can also be as diverse as one coast of the country from the other. Read more.
If you build it, will they come? Yes.
Ivy Zelman, CEO of the Zelman & Associates — the housing market research firm — said there is plenty of room for growth and increased sales in the coming years. Read more.
Estimating the right way
Technology has improved by leaps and bounds in the past decade. And that shift has changed how dealers can complete an estimate for builders. Read more.
New leaders for the NLBMDA
At the association's annual meeting, the NLBMDA board of directors elected Rick Lierz as the new chair of the association. Read more.
Building the better bench
An executive search expert points to the keys to succession planning. Read more.
And now, a word on profitability
The trick of advanced analytics is to identify which customers are profitable, and which are a drain on the business. Read more.
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The ProDealer Summit is hosted jointly by the NLBMDA and HBSDealer. For information about the 2018 event in Chicago Oct. 17-19, contact [email protected].
Weyerhaeuser revenue up 9.4%
Weyerhaeuser, the Seattle-based forest products giant, reported third quarter 2017 net sales of $1.87 billion — a 9.4% increase over net sales of $1.71 billion for the third quarter 2016.
The company also reported net earnings of $130 million for the quarter, down from net earnings from continuing operations of $162 million in the same period last year.
"I am very pleased with our third quarter performance, as each of our businesses delivered strong operating results despite various weather-related challenges in the quarter," said Doyle Simons, Weyerhaeuser president and CEO.
During the quarter, Weyerhaeuser sold its operations in Uruguay. The company also recently redeemed its interest in the Twin Creeks timberland venture.
In the West, higher average sales realizations for domestic and export logs were offset by lower fee harvest volumes due to fire season related logging restrictions, the company reported.
In the South, log sales volumes increased, and average sales realizations were comparable to the second quarter, as slightly higher sawlog pricing was offset by a higher proportion of pulpwood sales. Forestry costs also increased slightly, according to Weyerhaeuser.