BMC Stock drives profit in Q1
Commodity price fluctuation leads to slip in sales, dealer says.
BMC Stock Holdings reported first quarter net sales fell 1.1% to $825.4 million from net sales of $834.2 million in the first quarter of 2018.
The Raleigh, N.C.-based pro dealer attributed the decline to commodity price deflation along with one less selling day in the quarter compared to the same period last year. Those factors were offset by 3.2% organic growth and 3.2% acquisition growth.
BMC posted a net income of $20.4 million for the quarter, up more than 32% from a net income of $15.4 million for the corresponding quarter last year.
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Bottom line: Net income increased to $20.4 million, up from $15.4 million in the same quarter last year.
From the CEO: “Coming on the heels of our exceptional 2018 operating performance, we are pleased to deliver a strong start to 2019, reflecting continued solid execution of our strategy and stable levels of construction activity in our markets,” said Dave Flitman, president and CEO.
Company info: See the BMC full earnings release here.
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