BMC celebrated its 25th year in business this week by revamping its website and bringing to the fore its mission, vision, and values statements. Management also told employees that business is looking good: Revenues are up 30%, it said, and the company looks likely to top $1 billion in sales in 2013.
What had been born from Boise Cascade 25 years ago as BMC West and went through a bankruptcy-law reorganization in 2009 now is going into its third year of EBITDA-positive territory, according to a presentation to employees prepared for company CEO Peter Alexander. (EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It's a popular measure of a company's cash flow.) BMC also is a year ahead of plan by showing net income over a few months, and over half of the company's post-restructuring debt has been retired, the presentation said.
Alexander's presentation also noted that the company has beefed up its manufacturing operations; reopened a truss plan in Fresno, Calif.; hired more than 1,000 employees since January (it had 3,700 at the start of the year); converted a sales office in Twin Falls, Idaho, to a full-service LBM operation; tripled the size of its Houston facility; and invested millions in trucks and forklifts.
Boise, Idaho-based BMC currently stands 10th on the ProSales 100 list of top building material suppliers, with revenues of $664 million in 2011, 95% of it to pros, at 85 locations. In 2001, back when it was known as Building Materials Holding Corp., or BMHC, the company was ProSales' dealer of the year.
The anniversary celebration also provided the opportunity to re-emphasize the company's mission statement and its values. The mission: "Deliver what our customers need, when they need it, and how they want it." Its vision is equally simple: "Be the preferred employer, distributor, supplier, and partner in our communities."
BMC helped remind workers of its 25-year-old values by giving out coffee cups inscribed with them: "Customer priority. People count. Operational excellence. Reputation matters." Posters and banners proclaiming those values in both English and Spanish also have been printed for display at all facilities.