Driven by the robust demand in the residential building sector, building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported net sales of $247 million in the second quarter, which was $55 million, or 28.9%, higher than the same quarter a year ago.
Huttig Building Products posted second-quarter net income of $14.9 million compared to $1.6 million, which included a $1.5 million restructuring charge, in 2020.
“We are very pleased as an organization to report our second consecutive quarter of record operating results as a public company,” said Huttig CEO and President Jon Vrabely. “Our focus on strategic product category growth is working, and our results clearly demonstrate the positive impact our success is having on our financial model. Despite severe supply chain disruption and labor shortages, we generated substantial gains across every facet of our financial performance including sales, profitability, and liquidity.
“The strong underlying fundamentals of the residential construction market, combined with the sustainable improvements we have achieved in the business, positions us very well to continue generating solid results in the future.”