BLDR posts strong sales in tough winter
After the winter of 2014, executives have emphasized the impact of the weather in a high percentage of first-quarter reports. Dallas-based BuildersFirst Source is no exception.
Despite the cold — and the relatively flat construction activity — sales increased 8.2% to $345.9 million for the pro dealer.
The company posted a net loss of $3.4 million, compared with a net loss of $11.8 million in the same quarter last year.
"Despite the extreme winter weather that slowed construction activity across our markets and housing starts being relatively flat, we successfully grew sales and adjusted EBITDA on a year-over-year basis,” said Floyd Sherman, Builders FirstSource CEO. “Our sales increased 8.2% and adjusted EBITDA increased 59% when compared with the first quarter of 2013.”
Headwinds included a decline of 0.1% in south region single-family housing starts and commodity deflation, Sherman said.
“Our employees did a great job managing through the difficult weather conditions and again delivered strong financial results in the first quarter,” he added.
As a percentage of total sales, windows-and-door sales increased (22% of total sales versus 19.9% last year), and lumber and lumber sheet goods declined (33.4% versus 36.5% last year).
“We believe the underlying demand for new housing remains strong, and with the weather problems from earlier this year behind us, the pace of construction should accelerate over the coming months,” Sherman said.
Johns Manville pumps up mineral wool offerings in Canada
Denver-based Johns Manville is giving its Canadian customers greater access to its full line of insulation products through the addition of commercial and residential mineral wool.
“Mineral wool has long been a favorite product of Canadian building professionals, but there’s no longer just one game in town,” said Fred Stephan, SVP Insulation Systems at Johns Manville. “With JM mineral wool, building occupants benefit from acoustically superior environments, moisture protection and increased fire performance while contractors benefit from JM’s laser-like focus on customer service and range of product offerings, providing more options and resources across all insulation categories.”
The mineral wool has a high melting point of more than 1093 degrees Celsius, which helps delay the spread of fire and boosts privacy and noise reduction. Additionally, it seeks to reduce energy costs by keeping buildings warm in the winter and cool in the summer.
That’s because it’s made using an advanced manufacturing process that creates a high-fiber density using a low amount of shot material. The wool is easy to cut and is available in a range of thicknesses and sizes.
Last but not least, Johns Manville offers compression packaging for the wool, which means it can transfer 2,497 square meters of the product in one truckload — 603 square meters more than other manufacturers, the company says.
Deltic Timber appoints new directors
Announcing the decision at its Annual Meeting of Stockholders, Deltic Timber Corporation has elected The Reverend Doctor Christoph Keller, III, David Lemmon and R. Madison Murphy to its board as class III directors.
Additionally, the baord re-elected Deltic’s incumbent executive officers to their respective current positions.
Deltic’s stockholders also approved the appointment of KPMG, LLC as the company’s indepependent auditors for 2014.
Keller, Lemmon and Murphy will each serve three-year terms on the company’s board.