Huttig Reports Strong First Quarter

May 1st, 2018 by Editor

Huttig Building Products Inc., a leading domestic distributor of millwork, building materials and wood products, reported that net sales in the first quarter of 2018 were $198 million, which was $22.3 million, or 13 percent, higher than the first quarter of 2017.

The company says the increase in net sales was primarily attributed to an 8 percent increase in new residential construction activity.

“I am pleased with the continued progress we made in executing our strategic growth initiatives in the quarter,” said Jon Vrabely, Huttig’s president and CEO. “Looking forward, we will continue to focus on executing our growth plans, improving our gross margins and managing our working capital.”

Millwork product sales increased 4 percent in the first quarter of 2018 to $95.3 million, compared to $91.9 million in the first quarter of 2017. Building products sales increased 26 percent in the first quarter of 2018 to $85.5 million, compared to $68.1 million in the first quarter of 2017, primarily attributed to higher sales of the Huttig-Grip product line. Wood product sales increased 10 percent in the first quarter of 2018 to $17.2 million, compared to $15.7 million in the first quarter of 2017.

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