Segments (Tables)

9 Months Ended

Sep. 30, 2017

The following tables present net sales and gross profit for each reportable segment (in thousands):



	Three Months Ended September 30,
	2017					2016
	Net Sales			Gross Profit		Net Sales			Gross Profit
SBP	$	467,891		$	135,883	$	378,280		$	105,154
MI	67,555			18,900		37,283			7,814
Consolidated	$	535,446		$	154,783	$	415,563		$	112,968
Total gross profit	$	154,783				$	112,968
Total operating expenses	(137,139		)			(109,673		)
Interest expense	(15,069		)			(20,688		)
Other income, net	35					79
Income (loss) before income taxes	$	2,610				$	(17,314	)



	Nine Months Ended September 30,
	2017					2016
	Net Sales			Gross Profit		Net Sales			Gross Profit
SBP	$	1,346,441		$	389,037	$	893,032		$	256,734
MI	197,692			55,189		37,283			7,814
Consolidated	$	1,544,133		$	444,226	$	930,315		$	264,548
Total gross profit	$	444,226				$	264,548
Total operating expenses	(401,226		)			(252,363		)
Interest expense	(45,194		)			(37,202		)
Other income, net	13,419					93
Income (loss) before income taxes	$	11,225				$	(24,924	)

The following table provides information about the Company by geographic areas (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
United States	$	473,282	$	380,095	$	1,370,301	$	894,847
Canada	62,164		35,468		173,832		35,468
Total	$	535,446	$	415,563	$	1,544,133	$	930,315

The Company’s net sales by segment and major product line, and segment gross profit and gross margin, are as follows (in thousands):



	Three Months Ended September 30,										Change
	2017					2016					$			%
SBP Segment
Wallboard	$	179,362		38.3	%	$	145,193		38.4	%	$	34,169		23.5	%
Suspended ceiling systems	91,933			19.6	%	62,488			16.5	%	29,445			47.1	%
Metal framing	71,420			15.3	%	64,950			17.2	%	6,470			10.0	%
Other	125,176			26.8	%	105,649			27.9	%	19,527			18.5	%
Total SBP net sales	$	467,891		100.0	%	$	378,280		100.0	%	$	89,611		23.7	%

MI Segment
Commercial and industrial insulation	$	53,447		79.1	%	$	28,128		75.4	%	$	25,319		90.0	%
Non-insulation products	14,108			20.9	%	9,155			24.6	%	4,953			54.1	%
Total MI net sales	$	67,555		100.0	%	$	37,283		100.0	%	$	30,272		81.2	%
Total net sales	$	535,446				$	415,563				$	119,883		28.8	%

Gross profit - SBP	$	135,883				$	105,154				$	30,729		29.2	%
Gross profit - MI	18,900					7,814					11,086			141.9	%
Total gross profit	$	154,783				$	112,968				$	41,815		37.0	%

Gross margin - SBP	29.0		%			27.8		%			1.2		%
Gross margin - MI	28.0		%			21.0		%			7.0		%
Total gross margin	28.9		%			27.2		%			1.7		%



	Nine Months Ended September 30,										Change
	2017					2016					$			%
SBP Segment
Wallboard	528,937			39.3	%	$	371,634		41.6	%	$	157,303		42.3	%
Suspended ceiling systems	247,921			18.4	%	118,323			13.2	%	129,598			109.5	%
Metal framing	212,486			15.8	%	156,415			17.5	%	56,071			35.8	%
Other	357,097			26.5	%	246,660			27.7	%	110,437			44.8	%
Total SBP net sales	$1,346,441			100.0	%	$	893,032		100.0	%	$	453,409		50.8	%

MI Segment
Commercial and industrial insulation	$	148,488		75.1	%	$	28,128		75.4	%	$	120,360		427.9	%
Non-insulation products	49,204			24.9	%	9,155			24.6	%	40,049			437.5	%
Total MI net sales	$	197,692		100.0	%	$	37,283		100	%	$	160,409		430.2	%
Total net sales	$1,544,133					$	930,315				$	613,818		66.0	%

Gross profit - SBP	$	389,037				$	256,734				$	132,303		51.5	%
Gross profit - MI	55,189					7,814					47,375			606.3	%
Total gross profit	$	444,226				$	264,548				$	179,678		67.9	%

Gross margin - SBP	28.9		%			28.7		%			0.2		%
Gross margin - MI	27.9		%			21.0		%			6.9		%
Total gross margin	28.8		%			28.4		%			0.4		%