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It was another quarter of double-digit sales and profit gains for the industrial supplies distributor, which saw softening demand and tougher year-over-year comparables.
Because of lingering inflation, the Fed may enact a fourth straight 0.75-percentage-point increase to interest rates in the coming weeks.
Construction input prices dipped 0.1% in September compared to the previous month but remained 41% ahead of February 2020 pre-COVID levels.
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The company is investing $34 million into a new facility that will house its headquarters and distribution operations.
Schneider plans to install new technology at facilities in Kentucky and Nebraska to improve their efficiency.
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Changes include the appointment of Andrew G. Long as EVP, CEO, products & healthcare services segment, replacing Jeffrey T. Jochims.
The lab was built to centralize the company's test rigs and bring together the research and product development teams.
Backlog is once again above the level observed at the start of the pandemic, according to the Associated Builders and Contractors.
Stellar said the deal will give the company 'an immediate and strong market presence in the Rocky Mountain region.'
