Huttig delivers solid Q2

Huttig Building Products reported second sales increased nearly 29% to $274.4 million from second quarter 2020 sales of $192 million.

The company also posted a net income of $14.9 million from the quarter, marking a big leap from a net income of $1.6 million for the same period last year.

Millwork sales increased 19.1% to $97.3 million in the second quarter. The company said that millwork has been impacted by supply chain disruptions. 

Building products sales increased 29.5% in the second quarter to $126.3 million, compared to $97.5 million in the second quarter of 2020.

Second quarter 2021 building products sales benefitted from consistently high levels of demand for but additional year-over-year growth was hindered by supply chain disruption.

Wood product sales increased 85.9% in the quarter of 2021 to $23.8 million, compared to $12.8 million in the second quarter of 2020. Higher market prices had a significant impact in this category, Huttig noted.

Based in St. Louis, Mo., Huttig distributes its products through 25 distribution centers serving 41 states. 

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The Bottom Line: Huttig earnings swell as the company posts a net income of $14.9 million as sales rise nearly 29% to $274.4 million.

What the CEO said: “Despite severe supply chain disruption and labor shortages, we generated substantial gains across every facet of our financial performance including sales, profitability, and liquidity,” said John Vrabely, president and CEO of Huttig. “The strong underlying fundamentals of the residential construction market, combined with the sustainable improvements we have achieved in the business, positions us very well to continue generating solid results in the future.”

Company info: The full second quarter 2021 financial report from Huttig is available here.