Foundation Building Materials (FBM), the giant dealer specializing in wallboard and suspended ceilings, gave notice today that its expects to report next month that it recorded $530 million to $540 million in net sales during its third quarter and $2.03 billion in $2.07 billion in sales for all 2017.
The SEC filing appeared to be a cautionary note for investors, because the Tustin, Calif.-based dealer pointed out that Hurricanes Harvey and Irma affected its operations in Texas, Florida, Georgia, and South Carolina. “In addition, two fewer business days compared to the prior-year quarter led to lower shipping activity,” it noted in a news release.
“While we experienced some short-term disruption to our business, we expect product demand to regain strength that will likely extend into future quarters,” FBM President and CEO Ruben Mendoza said in a statement.
FBM will release its third-quarter results on Nov. 7. The company went public on Feb. 10, so it hasn’t reported its numbers for July through September 2016 and thus year-to-year comparisons aren’t available.
FBM operates more than 220 branches across the U.S. and Canada. It has been one of the most active acquirers of dealers over the past two years. For all 2017, the company expects those acquisitions will deliver $70 million to $80 million worth of sales revenue.
