Huttig’s Sales Down 2.4% in 2020 - Modern Distribution Management

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Huttig’s Sales Down 2.4% in 2020

Building materials distributor Huttig Building Products Inc. reported fourth-quarter sales of $184.6 million, a 2.3% increase over the prior-year period.
Woodgrain acquires huttig

Building materials distributor Huttig Building Products Inc. (Nasdaq: HBP), St. Louis, Missouri, reported sales for 2020 of $792.3 million, down 2.4% compared to 2019. The company reported a loss of $0.9 million, up from a loss of $21.3 million a year ago.

“The momentum we generated through the third quarter of 2020 continued and contributed to our solid fourth quarter results,” said Jon Vrabely, president and CEO of Huttig. “In light of the headwinds of restructuring activities and continued supply chain challenges across several key product categories, we were able to grow fourth quarter sales over the prior year and significantly improve our operating results and profitability. Combined with effective working capital management, we ended the year with our highest liquidity and lowest debt levels in several years.  I am very proud of our entire organization and look forward to continuing our progress in 2021 as we build on the foundation we established in 2020.”

The company reported fourth-quarter sales of $184.6 million, a 2.3% increase over the prior-year period. The company reported a loss of $0.3 million for the quarter, up from a loss of $9.4 million in the fourth quarter of 2019.

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