BMC Stock Holdings, Inc. (BMCH) Tops Q3 EPS by 9c, Revenues Beat

BMC Stock Holdings, Inc. (NASDAQ: BMCH) reported Q3 EPS of $0.58, $0.09 better than the analyst estimate of $0.49. Revenue for the quarter came in at $990.3 million versus the consensus estimate of $963.82 million.

• Net sales of $990.3 million, an increase of 12.4%, including significant growth in Structural Components and Ready-Frame® sales
• Net income of $35.9 million, an increase of $17.4 million
• Adjusted EBITDA (non-GAAP) of $74.4 million, an increase of $15.1 million or 25.4%
• Adjusted EBITDA margin (non-GAAP) of 7.5%, an increase of 80 basis points
• Diluted earnings per share of $0.53, an increase of $0.26
• Adjusted net income per diluted share (non-GAAP) of $0.58, an increase of $0.24
• Cash provided by operating activities of $59.7 million, an increase of $22.7 million
• Commenting on BMC’s third quarter performance, Dave Flitman, President and Chief Executive Officer of BMC, stated, “Our team has demonstrated outstanding execution of our strategy this year, focusing on service levels, driving productivity improvements and providing innovative solutions to our customers. As a result, we are reporting another quarter of strong financial performance, including significant growth in net income, diluted earnings per share, Adjusted EBITDA and cash from operating activities. Adjusted EBITDA margin improved 80 basis points to 7.5% for the quarter and is up 110 basis points year-to-date. Contributing to the success this quarter was strong growth in our value-added product categories of Structural Components, which grew 15.0%, and Millwork, Doors & Windows, which grew 11.4%.”

Flitman continued, “While affordability concerns have caused a recent deceleration in housing starts growth, the longer-term fundamentals underlying the housing market remain favorable, including household formation, demographic trends, job growth and higher wages. With our strong balance sheet and cash flow, our commitment to supporting our customers through innovation and operational excellence and our focus on pursuing the right acquisitions, we remain confident in our ability to deliver solid operating results and are well positioned to drive long-term shareholder value.”

For earnings history and earnings-related data on BMC Stock Holdings, Inc. (BMCH) click here.

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