Expenditures for improvements and repairs to the owner-occupied housing stock are expected to grow throughout 2022 and into early next year, but at a decelerating pace, according to the Leading Indicator of Remodeling Activity (“LIRA”) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects year-over-year increases […]
New South Construction Supply Enters Agreement to Acquire American Contractors Supply
New South Construction Supply, LLC (“NSCS”), a distributor of construction products to commercial and residential general contractors and subcontractors across the Southeastern United States announces it has signed a letter of intent to acquire American Contractors Supply (“ACS”), a leading distributor and supplier of tilt-up products based in Atlanta, Georgia. Commenting on this, Jim Sobeck, […]
Union Pacific Reports First Quarter 2022 Results
Earnings per diluted share of $2.57 Operating revenue up 17% Operating income up 19% Union Pacific Corporation reported 2022 first quarter net income of $1.6 billion, or $2.57 per diluted share. This compares to 2021 first quarter net income of $1.3 billion, or $2.00 per diluted share. “Union Pacific translated revenue growth from a strong […]
Freddie Mac: Mortgage Rates Exceed Five Percent
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 5.11 percent. “Mortgage rates increased for the seventh consecutive week, as Treasury yields continued to rise,” said Sam Khater, Freddie Mac’s Chief Economist. “While springtime is typically the busiest homebuying season, the upswing in rates has caused some […]
Tractor Supply Company Reports First Quarter 2022 Financial Results; Reiterates 2022 Financial Outlook
Tractor Supply Company, the largest rural lifestyle retailer in the United States, today reported financial results for its first quarter ended March 26, 2022. Net Sales Increased 8.3%; Comparable Store Sales Increased 5.2% on Top of 38.6% Comparable Store Sales Growth Last Year Diluted Earnings per Share (“EPS”) Increased to $1.65 from $1.55 Last Year […]
Canfor Investing $130 Million to Modernize Urbana Facility
Canfor Corporation (TSX:CFP) is pleased to announce it will invest approximately $130million USD to significantly upgrade and expand its sawmill and planer facility located in Urbana in Union County, Arkansas. The investment will capitalize on the abundant supply of high-quality fiber to enhance the manufacturing of high-value products, increase annual production at the facility by […]
PPG Reports First Quarter 2022 Financial Results
Record first quarter net sales of $4.3 billion, 11% higher than prior year Organic sales growth of about 7%, led by higher selling prices Reported earnings per diluted share (EPS) of $0.08 and adjusted EPS of $1.37 Reported results include charges related to operations in Russia of $290 million, primarily non-cash Raw material costs up […]
NAR: Existing-Home Sales Slip 2.7% in March
Existing-home sales decreased in March, marking two consecutive months of declines, according to the National Association of Realtors®. Month-over-month, sales in March waned in three of the four major U.S. regions while holding steady in the West. Sales were down across each region year-over-year. Key Highlights Existing-home sales fell for the second straight month in […]
Mercer International Inc.’s Climate Targets Validated by the Science Based Targets Initiative
Mercer International Inc. (“Mercer” or the “Company”) announced its 35% Greenhouse Gas reduction target by 2030 has been approved by the Science Based Targets initiative (SBTi) as consistent with the levels required to meet the goals of the Paris Agreement. The approval formally recognizes Mercer as a leading company and the first in Canada and […]
MI Windows and Doors Parent Company Becomes MITER Brands
MI Windows and Doors reveals a new parent brand for its business: MITER Brands™. The announcement was made at the company’s annual leadership meeting last week in Dallas. The nationwide company will retain two fast-growing regional product brands – MI Windows and Doors in the East and Milgard Windows and Doors in the West. Sunrise […]