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BMC Stock Holdings Inc. (Nasdaq:STCK), Raleigh, North Carolina, reported sales for the first quarter of $825.4 million, a decrease of 1.1% compared to the previous year. The company reported a profit for the quarter of $20.4 million, up 32.7% from the same quarter a year ago.
“Solid 3.2% organic growth helped to offset the top line declines we projected due to commodity price deflation and one less selling day, and our team’s commitment to driving continuous improvement led to increased profitability and cash generation,” said Dave Flitman, president and CEO of BMC.“Specifically, we grew net income by 32.5% to $20.4 million, more than tripled our cash provided by operating activities to $77.8 million and increased our Adjusted EBITDA by 15.3% to $54.4 million while improving Adjusted EBITDA margin by 90 basis points. In addition, we completed the acquisitions of Barefoot and Company and Locust Lumber in the Charlotte, NC market and continue to explore numerous opportunities for additional strategic bolt-on acquisitions.”