BMC sales surge ahead in Q1
BMC Stock Holdings reported net sales increased 11.6% to $920.9 million in the first quarter from sales of $825.4 million in the first quarter 2019.
The Raleigh, N.C.-based pro dealer and building solutions provider said the sales surge was driven by acquisitions growth of 6%, organic growth of 5.3% and a 1.7% increase due to an extra selling day in the quarter. Price deflation had a negative impact of 0.7%.
The company also posted a net income of $22 million for the quarter, rising 8.3% from a net income of $20.3 million for the same period a year ago.
BMC’s first quarter gross profit rose 9.7% to $237.1 million.
###
The Bottom Line: Sales rise nearly 12% to $920.9 million as profits are up 8.3% to $22 million fro the first quarter 2020.
What the CEO said: “We were very pleased with our first quarter results, which exceeded our expectations and capitalized on a strong pipeline of construction activity and continued momentum in our value-added products and services,” said Dave Flittman, president and CEO of BMC.
“However, due to the COVID-19 pandemic, our focus quickly turned to the safety and well-being of our associates and their families while meeting the critical product and service needs of our customers. We have taken numerous steps across our local operations to help protect our associates and customers, accelerate productivity gains while reducing our operating expenses and capital expenditures, and increase our company’s financial flexibility. Our team is focused on protecting the assets of the company, while not losing sight of executing our long-term strategic objectives.”
Company info: Click here to read the full first quarter 2020 report from BMC Stock.
The Raleigh, N.C.-based pro dealer and building solutions provider said the sales surge was driven by acquisitions growth of 6%, organic growth of 5.3% and a 1.7% increase due to an extra selling day in the quarter. Price deflation had a negative impact of 0.7%.
The company also posted a net income of $22 million for the quarter, rising 8.3% from a net income of $20.3 million for the same period a year ago.
BMC’s first quarter gross profit rose 9.7% to $237.1 million.
###
The Bottom Line: Sales rise nearly 12% to $920.9 million as profits are up 8.3% to $22 million fro the first quarter 2020.
What the CEO said: “We were very pleased with our first quarter results, which exceeded our expectations and capitalized on a strong pipeline of construction activity and continued momentum in our value-added products and services,” said Dave Flittman, president and CEO of BMC.
“However, due to the COVID-19 pandemic, our focus quickly turned to the safety and well-being of our associates and their families while meeting the critical product and service needs of our customers. We have taken numerous steps across our local operations to help protect our associates and customers, accelerate productivity gains while reducing our operating expenses and capital expenditures, and increase our company’s financial flexibility. Our team is focused on protecting the assets of the company, while not losing sight of executing our long-term strategic objectives.”
Company info: Click here to read the full first quarter 2020 report from BMC Stock.