Hardwoods Distribution sales soar in Q1

Hardwoods Distribution Inc. (HDI) said this week its Q1 sales rose 121.5 percent to $644.9-million, a year-over-year increase of $353.7-million. Profits for the quarter grew 234.7 percent to $43.5-million, from $13-million a year earlier. In Canada, sales increased by $18.8 million, or 38 percent, compared to the comparable period of 2021. During the quarter, HDI closed its acquisition of Missouri-based Mid-Am Building Supply Inc.