RALEIGH, N.C., Nov. 26, 2018 (GLOBE NEWSWIRE) -- BMC Stock Holdings, Inc. (BMCH) (“BMC” or the “Company”), one of the leading providers of diversified building products, services and innovative building solutions in the U.S. residential construction market, today announced that its board of directors has authorized a new stock repurchase program, under which the Company may repurchase up to $75 million of the Company’s common shares outstanding.
Dave Flitman, President and CEO of BMC, commented, “The authorization of a stock repurchase plan demonstrates our confidence in the continued strength and long-term growth prospects of our business and underscores our commitment to a balanced capital allocation strategy. We believe our strong balance sheet and cash flow provide us the flexibility to opportunistically return capital to our shareholders while continuing to invest in organic and inorganic growth opportunities, including product and service innovation, manufacturing automation and acquisitions to drive shareholder value.”
Under the board’s authorization, repurchases may be made at management's discretion from time to time on the open market, through privately negotiated transactions, or a combination of these and other methods. The repurchase program will expire on November 20, 2019 or may be suspended or discontinued at any time.
About BMC Stock Holdings, Inc.
With $3.4 billion in 2017 net sales, BMC is a leading provider of diversified building products, services and innovative solutions to builders, contractors and professional remodelers in the U.S. residential housing market. Headquartered in Raleigh, NC, the Company's comprehensive portfolio of products and solutions spans building materials, including millwork and structural component manufacturing capabilities, consultative showrooms and design centers, value-added installation management services and an innovative eBusiness platform. BMC serves 45 metropolitan areas across 19 states, principally in the South and West regions.
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