Hardwoods Distribution Inc. (“HDI”) announced financial results for the three months ended March 31, 2019. 1Q 2019, total sales increased by 6% to $287.1 million, from $270.8 million during the same period in 2018, as the company said in the press release received by Lesprom Network.
Gross profit for the 1Q 2019 increased 4.4% to $51 million, from $48.9 million during the same period in 2018. As a percentage of sales, gross profit margin was 17.8% as compared to 18% during the same period in 2018.
Profit for the three months ended March 31, 2019 was $6 million, as compared to $8.1 million in the same period in 2018.
For the 1Q 2019, HDI reported Adjusted EBITDA of $17.3 million, as compared to $18.9 million during the same period in 2018. The $1.6 million reduction reflects the increase in operating 5 expenses of $3.6 million (before changes in depreciation and amortization), partially offset by the $2.2million increase in gross profit.
HDI is North America’s largest wholesale distributor of architectural grade building products to the residential and commercial construction sectors.
