Hardwoods Distribution Inc. (“HDI”) announced financial results for the three months ended March 31, 2018. For the three months ended March 31, 2018, total sales increased 4.4% to $270.8 million, from $259.3 million during the same period in 2017.

Wooden Panels

Hardwoods Distribution’s 1Q sales increased by 4.4% to $270.8 million

Hardwoods Distribution Inc. (“HDI”) announced financial results for the three months ended March 31, 2018. For the three months ended March 31, 2018, total sales increased 4.4% to $270.8 million, from $259.3 million during the same period in 2017, as the company said in the press release received by Lesprom Network.

Gross profit for the three months ended March 31, 2018 increased 0.9% to $48.7 million, from $48.3 million during the same period in 2017. The $0.4 million improvement reflects higher sales, partially offset by a lower gross profit margin.

For the three months ended March 31, 2018, HDI reported Adjusted EBITDA of $13.2 million, as compared to $14 million during the same period in 2017. Profit for the three months ended March 31, 2018 increased 3.1% to $8.2 million, from $7.9 million in the same period in 2017.

HDI is North America’s largest wholesale distributor of architectural grade building products to the residential and commercial construction markets, with a strong US and Canadian distribution network.