BMC shows strength in Q2
Pointing to an energized team and innovative product offering, BMC reported second-quarter gains in sales and earnings.
The Atlanta-based dealer with operations in 19 states and 45 metropolitan areas reported net sales of $998.5 million in the three months ended June 30. That's up 12.6%. Net earnings jumped from $17.6 million to $40.4 million.
Automation is playing an important role in the company, according to Interim CEO Dave Keltner. "We are making key investments in automation and are continuing to implement the BMC Operating System to improve our processes and increase our efficiency, capacity and customer service levels," Keltner said. "We are pleased with the success recorded to date, and through these efforts, we expect to drive sustainable growth and value for all of our stakeholders.”
The company estimates that net sales increased 7.9% from higher selling prices of lumber and lumber sheet goods, 2.4% from other organic growth and 2.3% from the acquisition of W.E. Shone Co. in late February.
Net sales of Ready-Frame, the company's labor-saving whole-home solution, were $60.1 million, an increase of 32.7%.
BMC and Stock joined forces in late 2015.
Regarding its search for a permanent CEO, the company said it is "entering its final round of interviews with a strong slate of candidates."
The Atlanta-based dealer with operations in 19 states and 45 metropolitan areas reported net sales of $998.5 million in the three months ended June 30. That's up 12.6%. Net earnings jumped from $17.6 million to $40.4 million.
Automation is playing an important role in the company, according to Interim CEO Dave Keltner. "We are making key investments in automation and are continuing to implement the BMC Operating System to improve our processes and increase our efficiency, capacity and customer service levels," Keltner said. "We are pleased with the success recorded to date, and through these efforts, we expect to drive sustainable growth and value for all of our stakeholders.”
The company estimates that net sales increased 7.9% from higher selling prices of lumber and lumber sheet goods, 2.4% from other organic growth and 2.3% from the acquisition of W.E. Shone Co. in late February.
Net sales of Ready-Frame, the company's labor-saving whole-home solution, were $60.1 million, an increase of 32.7%.
BMC and Stock joined forces in late 2015.
Regarding its search for a permanent CEO, the company said it is "entering its final round of interviews with a strong slate of candidates."