Stock Building Supply Reports Increased Sales, Overall Q4 Loss

March 17th, 2016 by Casey Flores

After completing the merger with Building Material Holdings Corp. (BMC), Atlanta-based Stock Building Supply reported a loss in the fourth quarter (Q4) of 2015. Despite sales increasing 63.6 percent compared to 2014, the company experienced a total loss of $7.4 million, compared to an income of $4.0 million the previous year.

Other report highlights include:

  • Adjusted net sales of $727.8 million, up 15.7 percent, including 9.8 percent organic volume growth, compared to Q4 of 2014;
  • Adjusted net income of $11.4 million, or $0.17 per diluted share, compared to adjusted net income of $8.9 million, or $0.13 per diluted share the previous year;
  • Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $37.8 million, up 32.7 percent, compared to $28.5 million in Q4 2014; and
  • Adjusted net debt declined to $437.5 million, down $18 million from three months prior.

“Fourth quarter financial performance continued to demonstrate our profitable growth momentum,” says Jim Major, executive vice president and chief financial officer of BMC. “Higher relative sales growth in our structural components and millwork, doors and windows product categories, combined with operating expense discipline, and the previously announced acquisitions of VNS Corporation and Robert Bowden, Inc. drove adjusted EBITDA growth of over 32 percent, to 5.2 percent of adjusted net sales, compared to 4.5 percent of adjusted net sales in the fourth quarter of 2014.”

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