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Huttig Building Products (NASDAQ: HBP) reported robust Q2 2021 results, achieving net sales of $247.4 million, a 28.9% increase from last year. Gross margins improved to 22.4%, driven by strategic product focus, yielding a net income of $14.9 million compared to $1.6 million in Q2 2020. Total liquidity rose to $100.7 million from $56.0 million. Key drivers included a strong residential construction market and effective pricing management despite supply chain challenges.
Huttig Building Products (HBP) plans to release its Q2 2021 financial results on July 28, 2021, after the market closes. A subsequent earnings call is scheduled for July 29, 2021, at 10:00 a.m. CDT. As one of the largest distributors of millwork and specialty building products, Huttig serves the residential construction and home improvement sectors through 25 distribution centers across 41 states, marking its 137th year in operation.
Huttig Building Products reported strong financial results for Q1 2021, with net sales of $214.7 million, a 5.8% increase from the previous year. Gross margins improved to 21.3% from 20.1%, while net earnings rose to $8.1 million compared to a loss of $8.9 million in Q1 2020. Total liquidity reached $85.4 million, up from $55.4 million a year earlier, and adjusted EBITDA increased to $10.5 million from $3.5 million. The company's focus on profitable sales growth in strategic product categories contributed to these results.
Huttig Building Products (HBP) will release its Q1 2021 financial results on May 3, 2021, post-market close. A conference call with management is scheduled for May 4, 2021, at 10:00 a.m. CDT. Huttig is a leading domestic distributor of millwork and building materials, serving 41 states through 25 distribution centers. The company focuses on new residential construction and home improvement markets. Investors can access the earnings call via webcast or telephone, providing an opportunity to gain insights into the company's performance and future outlook.
Huttig Building Products reported a fourth quarter 2020 net sales increase to $184.6 million, up 2.3% from $180.4 million in Q4 2019. Operating income rose to $1.0 million, contrasting with a loss of $8.0 million the previous year. Fourth quarter adjusted EBITDA improved to $2.4 million, compared to a negative $4.9 million in 2019. Total liquidity reached $59.3 million, with reduced debt by $42.7 million. Despite challenges from supply chain disruptions and restructuring, Huttig aims for continued growth in 2021, focusing on higher-margin products.
Huttig Building Products (HBP) will release its fourth quarter 2020 financial results on March 01, 2021, after the market closes. Following this, an earnings call is scheduled for March 02, 2021, at 10:00 a.m. CDT. The company, a leading distributor of millwork and building products, operates 25 distribution centers across 41 states and has been in business for 137 years. Huttig primarily serves building materials dealers, home centers, and industrial users.
Huttig Building Products reported third quarter results with net sales of $212.7 million, a decrease from $215.7 million in the prior year. Operating income rose to $6.9 million from $3.3 million, while adjusted EBITDA grew to $8.5 million, up from $5.3 million. The company improved liquidity to $69.8 million compared to $46.5 million the previous year and reduced debt by $51.9 million. Management attributes these improvements to operational changes made in response to the COVID-19 pandemic.
On October 22, 2020, 22NW, LP, a major stockholder of Huttig Building Products (NASDAQ: HBP) owning approximately 7.9% of shares, publicly challenged the recent $4 per share acquisition offer from Mill Road Capital Management. 22NW considers this offer inadequate, citing previous bids of $2.75 per share in August 2020. The firm argues that Huttig's fasteners brand, Huttig Grip, is poised for growth despite COVID-19 challenges, predicting an EBITDA run rate of $32 million and potential stock prices up to $12 per share within three years. They urge the Board to reject Mill Road's bid.
Huttig Building Products (Nasdaq: HBP) will announce its third quarter 2020 financial results on October 29, 2020, after market close. An earnings call is scheduled for October 30, 2020, at 11:00 a.m. CDT. Huttig, a major wholesale distributor of millwork and specialty building products, operates 25 distribution centers across 41 states. The company has been in business for 136 years, serving dealers, home centers, and industrial users.
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