BlueLinx attributed steep bottom line and operating losses in the second quarter to a hefty reorganization it announced in June and expects to wrap up in the third quarter. Profits dropped to a loss of $22.3 million in the second quarter from a loss of $3.7 million from the year-earlier quarter while sales climbed 16.9% to $604.6 million for the period. In a call with analysts this morning, company officials said its five distribution centers up for sale or closure are in the western U.S. Read more.
St. Louis-based distributor Huttig grew its bottom line by $1 million to $2.6 million during the second quarter from a year earlier as sales rose 8% to $148.9 million for the period. The company credited a recovering housing market for the growth, which was partially offset by lower sales in product categories such as roofing due to milder weather in the first half of 2013 compared to the first half of 2012, the St. Louis Business Journal reports. Read more.
Weyerhaeuser’s reported net earnings of $196 million during the second quarter compare to a year-earlier $84 million profit as sales rose 19.4% to $2.14 billion for the period. The Federal Way, Wash.-based wood-products manufacturer and distributor reported total net sales of $1.01 billion during the first quarter, up 7.1% from the prior quarter but contributing $136 million to earnings in 2Q compared to $178 million in 1Q. The company credits the drop primarily to lower-than-average OSB selling prices and higher raw material costs. Lumber volumes grew 13% over the first quarter. Read more.
Plum Creek Timber posted a $46 million profit during the second quarter, up 27.8% from a year earlier, on sales of $303 million, which increased 3.6% for the same period. Strong demand and still-high pricing, the Seattle-based wood-products manufacturer said, pushed operating income in its manufacturing segment to $14 million for the period compared to $5 million a year earlier. That division generated $11 million in revenue during the quarter, consistent with the year-earlier period. The company reported plywood prices 13% higher than a year earlier with sales volumes down 6% during that time. MDF prices were up 8% for the period as its sales volumes grew 15%, and lumber prices fell 1% while sales volumes grew 21% credited in part to the company’s opening its Evergreen Lumber mill in April. Read more.
Simpson Manufacturing reported net earnings of $18.5 million during the second quarter compared to net earnings of $15.9 million for the year-earlier quarter as sales rose 7.6% to $195.6 million for the same period. The company lost Lowe’s as a customer during the second quarter; the company accounted for $5.3 million in sales during the period. Excluding Lowe’s, net sales to home centers increased 6% during the second quarter. Wood construction product sales—connectors, truss plates, fasteners, and shearwalls—accounted for 85% of total sales in both 2Q 2013 and 2Q 2012. Read more.
Masco’s bottom line did an about-face during the second quarter from a year earlier, posting a $77 million profit in 2Q 2013 compared to a $75 million loss in 2Q 2012 as sales rose 10.5% to $2.15 billion during the period. The Taylor, Mich.-building-products manufacturer grew its adjusted margins to 28.9% in the second quarter from 26.9% a year earlier. Cabinet sales increased 4.7% to $265 million for the second quarter from the year-earlier period while segment EBITDA more than doubled to $14 million from $6 million during that time. Read more.