BMC Stock Holdings, Inc. (BMCH) Tops Q3 EPS by 24c, Revenues Beat

BMC Stock Holdings, Inc. (NASDAQ: BMCH) reported Q3 EPS of $0.84, $0.24 better than the analyst estimate of $0.60. Revenue for the quarter came in at $1.09 billion versus the consensus estimate of $1.08 billion.

Third Quarter 2020 Highlights

• Net sales increased 13.1% to a record $1,090.3 million
• Gross profit increased 7.2% to a record $273.1 million
• SG&A expenses as a percent of net sales declined 190 basis points to 17.9%
• Net income increased 33.6% to $44.9 million
• Adjusted EBITDA1 improved by 32.9% to a record $99.2 million
• Adjusted EBITDA margin1 increased 140 basis points to 9.1%
• Diluted earnings per share (EPS) increased 32.0%, or $0.16, to $0.66
• Adjusted net income per diluted share1 increased 44.8%, or $0.26, to a record $0.84
• Total liquidity was approximately $648.5 million, which included $286.2 million of cash and $362.3 million of borrowing capacity under the revolver, with no debt maturities until 2024.

“BMC delivered record third quarter results, including double-digit net sales and net income growth, and record gross profit, Adjusted EBITDA1 and Adjusted Net Income1,” said Dave Flitman, President and CEO of BMC. “These strong results were driven by strong demand in our single-family homes and pro remodel segments and higher lumber pricing, combined with solid execution against our four-pillar strategy, including our BMC Operating System-led productivity and cost savings initiatives. The double- digit sales growth led to sales in the third quarter exceeding $1 billion for the first time in our Company’s history. In conjunction with this momentum, we remain vigilant about keeping our associates, suppliers and customers safe as the pandemic continues to evolve.”

Mr. Flitman continued, “Looking ahead, I am even more excited about the strategic combination with Builders FirstSource, which remains on track to close in late 2020 or early 2021, and I believe it will deliver meaningful shareholder value in the years to come.”

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

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