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Q3 2019 Hardwoods Distribution Inc Earnings Call Transcript
Good morning. My name is Joanna, and I will be your conference operator today. At this time, I would like to welcome everyone to the HDI Third Quarter 2019 Results. (Operator Instructions) Thank you. Mr. Rob Brown, you may begin your conference.
Thanks, Joanna. Good morning and welcome everyone. Thanks for joining us. I'm going to start this morning with a brief overview of some highlights from our third quarter and first 9 months. Faiz Karmally, our CFO, will follow that with a more detailed financial review.
Then I'll return to discuss our outlook going forward.
The third quarter was a very positive one for HDI as we strengthened our bottom line results, generated strong cash flow, increased our dividend and in October, completed an accretive acquisition.
In terms of financial performance, we achieved our best gross profit margin in 2 years which in turn supported a 5% increase in EBITDA and an 11.2% increase in profit.
Our third quarter gross
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