HBP Stock: From $4.19 To $5.04 (20.29% Increase) After Hours Explanation

By Amit Chowdhry ● May 3, 2021
  • The stock price of Huttig Building Products Inc (NASDAQ: HBP) increased from $4.19 to $5.04 during after-hours trading. This is why it happened.

The stock price of Huttig Building Products Inc (NASDAQ: HBP) – a leading domestic distributor of millwork, building materials, and wood products – increased from $4.19 to $5.04 during after-hours trading. Investors are responding positively to the company’s first-quarter 2021 highlights (compared to the prior-year quarter): 

— Net sales of $214.7 million compared to $203.0 million

— Gross margins increased to 21.3% compared to 20.1%

— Net earnings increased to $8.1 million compared to a loss of $8.9 million, which included a $9.5 million goodwill impairment charge

— Total liquidity increased to $85.4 million compared to $55.4 million

— Reduced indebtedness by $34.7 million

— Adjusted EBITDA increased to $10.5 million compared to $3.5 million

KEY QUOTE:

“The continued execution of our strategy combined with strong demand in residential construction resulted in substantial gains in our first quarter operating results. Our focus on profitable sales growth of our strategic product categories and disciplined management of the expense structure contributed to record first quarter operating results as a public company. Our performance would not be possible without the commitment and dedication of our entire team of associates. I am proud of the entire organization as our collective efforts have created a very bright future for our company and our stakeholders.”

— Jon Vrabely, President and CEO of Huttig

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.