BMC Stock Holdings, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company's net sales were $840.881 million compared with $747.574 million a year ago. Income from operations was $24.890 million compared with $20.393 million a year ago. Income before income taxes was $22.138 million compared with $14.751 million a year ago. Net income was $17.642 million or $0.26 per diluted share compared with $10.418 million or $0.16 per diluted share a year ago. Adjusted EBITDA was $47.566 million compared with $44.450 million a year ago. Adjusted net income was $15.334 million or $0.23 per diluted share compared with $14.270 million or $0.21 per diluted share a year ago. Cash provided by operating activities of $45.8 million, an increase of $2.7 million, primarily due to higher net income. Capital expenditures during the fourth quarter totaled $12.0 million. These expenditures were primarily used to fund purchases of vehicles and equipment to support increased sales volume and replace aged assets, and facility and technology investments to support company's operations.

For the year, the company's net sales were $3,365.968 million compared with $3,093.743 million a year ago. Income from operations was $101.173 million compared with $83.736 million a year ago. Income before income taxes was $81,827 million compared with $45.146 million a year ago. Net income was $57.425 million or $0.85 per diluted share compared with $30.880 million or $0.46 per diluted share a year ago. Net cash provided by operating activities was $93.934 million compared with $106.888 million a year ago. Purchases of property, equipment and real estate were $63.278 million compared with $38.067 million a year ago. Adjusted EBITDA was $200.003 million compared with $193.890 million a year ago. Adjusted net income was $68.989 million or $1.02 per diluted share compared with $62.579 million or $0.94 per diluted share a year ago.

For the year 2018 the company expects longer-term incremental operating margins should range between 10% and 15%. As a result of the 2017 Tax Act, The company expects effective tax rate in 2018 to decline to approximately 25%. In 2018, The company expects to spend between $55 million and $65 million on capital expenditures as focus primarily on delivering increased returns from the growth investments made in recent years.