BMC Stock Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
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.