BMC Stock Holdings, Inc. Provides Business Update Regarding COVID-19

Processes in place to help protect the health and safety of BMC associates and their families

Highly motivated and prepared to continue delivering value to our customers and business partners 

Company taking actions to provide additional financial flexibility

Withdraws full-year 2020 outlook

RALEIGH, N.C., April 06, 2020 (GLOBE NEWSWIRE) -- BMC Stock Holdings, Inc. (Nasdaq: BMCH) (“BMC” or the “Company”), one of the leading providers of diversified building products, services and innovative solutions in the U.S. construction market, today announced business and financial updates in response to the coronavirus disease 2019 (COVID-19) pandemic.

“At BMC, we are focused on supporting our associates, customers, partners and communities during this unprecedented time,” said Dave Flitman, President and CEO of BMC. “Due to the rapidly evolving nature and continued uncertainty surrounding COVID-19, we are taking actions to maintain the safety of our associates and increase our Company’s financial flexibility, including borrowing on our revolving credit facility and temporarily suspending our share repurchase program, while actively reducing our operating expenses and capital expenditures. While we cannot predict how long the COVID-19 pandemic will last, I am confident that these actions, combined with our unwavering commitment to safety, our differentiated business model and our financial strength will position us to navigate through this challenging period.”

Safety

The safety of BMC’s associates and families is very important, and the Company has taken several steps to protect its associates, which include implementing detailed cleaning and disinfecting processes at BMC locations, adhering to social distancing protocols, suspending all air travel, and encouraging all associates to work from home when possible. 

Additionally, the Company launched a dedicated COVID-19 resource intranet page to keep associates up-to-date on Company and health authority information, guidelines and policies, such as the guidelines set by the Centers for Disease Control and Prevention, which BMC associates are to follow as appropriate.  The Company also enacted an Emergency Sick Pay Leave policy for associates unable to report to work because of a COVID-19 disruption.