This week's earnings news:
BlueLinx deepened its net loss during the first quarter to $12.6 million from $11 million a year earlier as sales rose 10.8% to $503.2 million for the same period, the company announced May 1, noting a lag in specialty product sales and higher structural wood-product prices. Selling costs rose 11.8% while the distributor's gross-profit margins dipped by less than one percentage point from the first quarter of 2012.
Huttig improved its net loss to $2 million during the first quarter of 2013 from a loss of $2.9 million a year earlier as an increase in building activity pushed sales up 6.7% to $124.5 million, the company announced April 19. Of that growth, wood products revenues increased 29% from a year earlier to $16.2 million in the first quarter while millwork sales climbed 12% to $60.9 million for the same period. Building-products sales inched upward 4%, missing out on storm-driven roofing demand, to total $47.3 million.
Plum Creeknearly doubled its bottom line to $56 million in the first quarter from a year earlier as sales rose to $340 million from $337 million during the period. Of that growth, the company’s wood-products manufacturing arm reported EBITDA of $14 million compared to $8 million a year earlier as sales spiked 13.2% to $86 million for the same period.
Masco’s cabinet segment climbed out of the red during the first quarter of 2013 to record $10 million in EBITDA compared to its year-earlier $4 million EBITDA loss, as sales rose 4% to $236 million for the same period, the company announced April 22. Overall, the building-products manufacturer and installation service provider grew EBITDA nearly 12% to $182 million during the quarter from 1Q 2012 as sales rose 4% to $1.9 billion during the period.