Hardwoods Distribution Inc

10:32 AM EST - Hardwoods Distribution Inc : Today announced financial results for the three months ended June 30, 2020. HDI is North America's largest wholesale distributor of architectural grade building products to the residential, repair and remodel, and commercial construction markets, with a comprehensive US and Canadian distribution network. Second-quarter sales of $296.0 million decreased just 2.8% year-over-year, despite significant COVID-19 related impacts on economic activity early in the quarter. Sales included a 7.0% increase related to the contribution of acquired businesses. Despite the decrease in sales, gross profit increased $2.7 million as the execution of its strategies yielded a record quarterly gross profit margin percentage of 19.5%, as compared to 18.1% in Q2 2019. Adjusted EBITDA increased 15.3% to a quarterly record of $24.4 million, from $21.2 million in Q2 2019. Hardwoods Distribution Inc shares T.HDI are trading up $1.94 at $19.79.