BMC Stock Q3 sales surge 12.4%
Structural components and millwork help drive Q3 sales.
BMC Stock Holdings posted third quarter 2018 net sales of $990.3 million, a 12.4% increase from third quarter 2017 net sales of $881.0 million.
The pro dealer also reported a net income of $35.9 million for the third quarter, nearly doubling a net income of $18.4 million for the same period a year ago.
The Raleigh, N.C.-based company said that sales were partly driven by 15% growth in the structural components product category and 11.4% growth in the millwork, doors and windows. BMC Stock said that it estimates net sales increased 6.3% from higher selling prices of lumber & lumber sheet goods, 4% from other organic growth, and 2.1% from the acquisition of W.E. Shone Co.
BMC Stock acquired W.E. Shone, a 3-unit pro dealer based in Delaware, this past February.
“While affordability concerns have caused a recent deceleration in housing starts growth, the longer-term fundamentals underlying the housing market remain favorable, including household formation, demographic trends, job growth and higher wages,” said David Flitman, president and CEO of BMC Stock.
Flitman was named as BMC Stock’s new top executive in August.
BMC serves 45 metro areas in 19 states, primarily in the South and West regions.
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