BMC Sees Significant Growth in Component Sales in Q2
Originally published by: BMC Stock Holdingsin — July 30, 2018
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BMC Stock Holdings, Inc., one of the leading providers of diversified building products, services and innovative solutions in the U.S. residential construction market, today announced its financial results for the second quarter ended June 30, 2018.
Second Quarter 2018 Highlights (Comparisons are to Prior Year Period)
- Net sales of $998.5 million, an increase of 12.6%, including significant growth in Structural Components and Ready-Frame® sales
- Net income of $40.4 million, an increase of $22.8 million
- Adjusted EBITDA (non-GAAP) of $78.8 million, an increase of $19.3 million or 32.3%
- Adjusted EBITDA margin (non-GAAP) of 7.9%, an increase of 120 basis points
- Diluted earnings per share of $0.60, an increase of $0.34
- Adjusted net income per diluted share (non-GAAP) of $0.64, an increase of $0.30
- Cash provided by operating activities of $27.7 million, an increase of $12.6 million
Commenting on BMC’s second quarter performance, Dave Keltner, Interim President and Chief Executive Officer of BMC, stated, “Based on the strength of our innovative product offerings combined with the team’s solid execution and commitment to the BMC Operating System, we delivered strong results for the second quarter, including significant year-over-year growth in net income, diluted earnings per share, Adjusted EBITDA and cash provided by operating activities. In addition, Adjusted EBITDA margin improved 120 basis points to 7.9% for the quarter.”
Keltner continued, “Within the organization, the team is energized and we are driving an expectation of continuous improvement. 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. 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.”