The 2020 Mid-Year Economic Update_long

Huttig’s Revenues Up 5.8% in 1Q

Building materials distributor Huttig Building Products Inc. reported first quarter net income of $8.1 million after posting a loss of $8.9 million in the first quarter of 2020.
Huttig Building Products

Boosted by robust demand in residential construction, building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported sales of $214.7 million in the first quarter, which were $11.7 million, or 5.8%, higher than the first quarter of 2020.

Huttig Building Products posted first-quarter net income of $8.1 million after reporting a loss of $8.9 million a year ago.

“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. Our performance would not be possible without the commitment and dedication of our entire team of associates. I am proud of the entire organization as our collective efforts have created a very bright future for our company and our stakeholders.”

Huttig reported fourth-quarter sales of $184.6 million, a 2.3% increase over the prior-year period.

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