BMC Stock Holdings, Inc. (BMCH) Tops Q1 EPS by 11c, Revenues Beat

BMC Stock Holdings, Inc. (NASDAQ: BMCH) reported Q1 EPS of $0.37, $0.11 better than the analyst estimate of $0.26. Revenue for the quarter came in at $825.4 million versus the consensus estimate of $799.66 million.

First Quarter 2019 Highlights (Comparisons are to Prior Year Period)

• Net sales of $825.4 million, a decrease of 1.1% primarily driven by commodity price deflation and one less selling day, partially offset by other organic growth of 3.2% and acquisition growth of 3.2%
• Net income of $20.4 million, an increase of $5.0 million
• Adjusted EBITDA (non-GAAP) of $54.4 million, an increase of $7.2 million or 15.3%
• Adjusted EBITDA margin (non-GAAP) of 6.6%, an increase of 90 basis points
• Diluted earnings per share of $0.30, an increase of $0.07
• Adjusted net income per diluted share (non-GAAP) of $0.37, an increase of $0.08
• Cash provided by operating activities of $77.8 million, an increase of $54.5 million
• Completed the acquisitions of Barefoot and Company and Locust Lumber enhancing the Company’s market position in Charlotte, NC
• Repurchased 0.9 million shares at an average price of $17.07 during the quarter

“Coming on the heels of our exceptional 2018 operating performance, we are pleased to deliver a strong start to 2019, reflecting continued solid execution of our strategy and stable levels of construction activity in our markets,” said Dave Flitman, President and Chief Executive Officer of BMC. “Solid 3.2% organic growth helped to offset the top line declines we projected due to commodity price deflation and one less selling day, and our team’s commitment to driving continuous improvement led to increased profitability and cash generation. Specifically, we grew net income by 32.5% to $20.4 million, more than tripled our cash provided by operating activities to $77.8 million and increased our Adjusted EBITDA by 15.3% to $54.4 million while improving Adjusted EBITDA margin by 90 basis points. In addition, we completed the acquisitions of Barefoot and Company and Locust Lumber in the Charlotte, NC market and continue to explore numerous opportunities for additional strategic bolt-on acquisitions.”

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

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