The 2020 Mid-Year Economic Update_long

Huttig Building Products Sales Grow 14% in 3Q

CEO: Modest improvement in residential construction markets drives revenue growth.

Building materials distributor Huttig Building Products Inc. (NASDAQ: HBP), St. Louis, MO, reported third-quarter sales of $174.5 million, a year-over-year increase of 14 percent. Profit increased 17 percent to $3.5 million.

For the nine-month period, sales were $478.5 million, a year-over-year increase of 12 percent. Profit fell 25 percent to $2.7 million.

"The revenue growth is a result of continued modest improvement in the residential construction market combined with strong execution of our strategic growth initiatives," said Jon Vrabely, president and CEO. "While we are pleased with our revenue growth of 14 percent, our flow through on increased revenues to income from continuing operations was negatively impacted by continued significant investments into our business to support our revenue growth, technology and customer service business initiatives."

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