Huttig swings to Q1 profit

Building products distributor Huttig reported first quarter sales increased 5.8% to $214.7 million compared to first quarter 2020 sales of $203 million.

The St. Louis-based company attributed the sales growth to an increase in residential construction.

Millwork sales of $96.2 million in the first quarter were unchanged from the same period of last year. Huttig noted that millwork is the category most impacted by recent supply chain disruptions and was also impacted by company restructuring efforts in 2020.

Building products sales increased 10% to $101.9 million in the quarter, compared to $92.6 million in the first quarter of 2020.

Huttig also reported a net income of $8.1 million for the quarter, compared to a net loss of $8.9 million in the first quarter a year ago.

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The Bottom Line: Sales rise 5.8% to $214.7 million as building product demand pushes Huttig to a net income of $8.1 million. 

What the CEO said:  “The continued execution of our strategy combined with strong demand in residential construction resulted in substantial gains in our first quarter operating results,” said Jon Vrabely, president and CEO of Huttig. “Our focus on profitable sales growth of our strategic product categories and disciplined management of the expense structure contributed to record first quarter operating results as a public company.”

Company info: Huttig’s full first quarter 2021 financial report is available here.