Construction Activity Helps Huttig Sales

Huttig Building Products, Inc. had net sales of $184.6 million in the fourth quarter of 2020, an increase of 2.3 per cent compared to net sales of $180.4 in the fourth quarter of 2019. The increase was attributable to higher levels of residential construction activity offset by a number of factors, including pandemic-induced changes to the operating environment resulting in supply chain disruption and labour shortages. Millwork sales decreased 1.9 per cent to $88.3 million; building products sales increased 7.5 per cent to $82.9 million; and wood product sales increased 0.8 per cent to $13.4 million compared to the prior-year period. Gross margin for the quarter was $37.1 million compared to $35.6 million in the year-ago period. As a percentage of sales, gross margin was 20.1 per cent compared to 19.7 per cent. Adjusted earnings before taxes were $2.4 million in the quarter compared to a loss of $4.9 million last year.