Because of an increase in residential construction activity compared to the third quarter of last year, 2021 3Q sales for building materials distributor Huttig Building Products (NASDAQ: HBP) were $245.3 million, a 15.3% jump over 2020.
Huttig’s net income for the third quarter of 2021 was $18.7 million, a substantial increase over the reported $6.1 million from the same period in 2020.
“Despite the continued challenging business environment related to severe supply chain disruption and a lack of available labor, our organization pulled together once again to generate another quarter of strong financial results,” said Jon Vrabely, president and CEO of Huttig. “Our strong performance in the quarter, and on a year-to-date basis, are a direct result of the fortitude and dedication of our associates, and the actions we have taken over the past two years to meaningfully and sustainably improve our financial model.”
For the first nine months of 2021, Huttig reported net sales of $707.4 million, an increase of nearly $100 million over last year’s reported net sales through the same period.
Net income through the first three quarters of 2021 was $41.7 million, compared with $1.2 million in losses a year ago.