A.M. Castle Sales Decline 7% in 2014 - Modern Distribution Management

Log In

A.M. Castle Sales Decline 7% in 2014

Revenue drop, net loss of $134.7 million force company to appoint COO from third-party consulting firm.
Author
Date

A. M. Castle & Co., Franklin Park, IL, a global distributor of specialty metal and plastic products, reported sales for 2014 of $979.8 million, down 7 percent from 2013. The company reported a net loss of $134.7 million, compared to a loss of $34 million a year ago.

The net earnings loss and revenue decline forced A. M. Castle to hire Jeffrey Zappone of the third-party consulting and financial advisory firm Conway MacKenzie as its COO.

 "2014 was a year of significant change for the company," said Scott Dolan, CEO of A. M. Castle. "We continued our restructuring and cost improvement efforts which included consolidation of certain facilities and strategic de-layering through headcount reductions. In light of the currently challenging market conditions, especially in the oil and gas sector, we have engaged Conway MacKenzie to expand and accelerate these efforts."

The company reported fourth-quarter sales of $231.5 million, down 0.8 percent from the same period a year ago. The company posted a loss of $39.1 million for the quarter, compared to net loss of $12.6 million fourth-quarter 2013.

Metals segment sales were $197.8 million in the third quarter, a decline of 1.3 percent from the prior year same period. In the plastics segment, fourth-quarter sales of $33.6 million were up 2.7 percent from the prior year same period.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.