Big profits for BMC
BMC Stock, the Raleigh, N.C.-based pro dealer, reported fourth quarter sales increased 2.2% to $859.5 million from fourth quarter 2017 net sales of $840.9 million.
Sales for the full year rose more than 9% to $3.68 billion from sales of $3.37 billion in the prior year.
The company also posted a net income of $28.1 million for the fourth quarter, nearly a 60% increase from a net income of $17.6 million during the same period a year ago. BMC reported a net income of $119.7 million for the year, more than doubling its net income of $57.4 million in the prior fiscal year.
“2018 marked a year of record results in which our team accelerated momentum across all areas of our business,” said Dave Flitman, president and CEO of BMC.
[Click here for the BMC report in the January issue of HBSDealer.]
The dealer’s Structural Components division sales grew 19% in 2018 partially driven by Ready-Frame sales, which increased 36.4% to $233.5 million for the year.
BMC said that net sales for the quarter increased about 1.6% from an additional selling day versus the same period a year ago, 1.9% from the acquisition of Shone Lumber and 0.6% from other organic growth. But growth was offset by a decrease of 1% from lumber and lumber sheet goods commodity price deflation and 0.9% from the sale of the Coleman Floor business last November.
The recent acquisitions of Barefoot & Company and Locust Lumber – both based in Charlotte, N.C. – give BMC about $105 million in additional net sales moving forward, the pro dealer said.
Sales for the full year rose more than 9% to $3.68 billion from sales of $3.37 billion in the prior year.
The company also posted a net income of $28.1 million for the fourth quarter, nearly a 60% increase from a net income of $17.6 million during the same period a year ago. BMC reported a net income of $119.7 million for the year, more than doubling its net income of $57.4 million in the prior fiscal year.
“2018 marked a year of record results in which our team accelerated momentum across all areas of our business,” said Dave Flitman, president and CEO of BMC.
[Click here for the BMC report in the January issue of HBSDealer.]
The dealer’s Structural Components division sales grew 19% in 2018 partially driven by Ready-Frame sales, which increased 36.4% to $233.5 million for the year.
BMC said that net sales for the quarter increased about 1.6% from an additional selling day versus the same period a year ago, 1.9% from the acquisition of Shone Lumber and 0.6% from other organic growth. But growth was offset by a decrease of 1% from lumber and lumber sheet goods commodity price deflation and 0.9% from the sale of the Coleman Floor business last November.
The recent acquisitions of Barefoot & Company and Locust Lumber – both based in Charlotte, N.C. – give BMC about $105 million in additional net sales moving forward, the pro dealer said.