The 2020 Mid-Year Economic Update_long

Huttig Building Products Sales Up 4% in 2Q

Year-to-date sales increased 6.1 percent year-over-year.

Huttig Building Products Inc. (NASDAQ: HBP), St. Louis, MO, a distributor of millwork, building materials and wood products, reported second quarter sales of $175.1 million, up 4 percent over the same period a year ago. Profit increased 59.4 percent to $5.1 million.

For the first six months, sales were $322.5 million, up 6.1 percent year-over-year. Profit was $5.1 million, compared to a year-ago loss of $0.8 million.

"We are pleased with the continued improvement in our financial performance that we achieved in the second quarter compared to our prior year," said Jon Vrabely, president and CEO. "The residential housing market is growing, but continues to lag most 2015 industry forecasts. Despite lower than forecasted market growth, through the continued execution of our strategy, we were successful in growing our revenue and gross profit while leveraging the investment we have made in the business over the past several years."

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