The 2020 Mid-Year Economic Update_long

Stock Building Supply Sales Up 1.3% in 3Q

Sales increased 2.8 percent year-over-year.

Stock Building Supply, Inc. (NASDAQ: STCK), Raleigh, NC, reported sales for the third quarter of $358.5 million, a 1.3 percent increase over the same period a year ago. Profit increased 20 percent to $6 million.

"Residential construction activity and our sales volumes continued to improve at a gradual but steady pace in most of the markets we serve," said Jeff Rea, president and CEO. "Decelerating macro conditions in certain Texas markets and extended residential construction cycle times constrained overall sales volume growth to approximately 5 percent, as compared to the prior year quarter, while deflation in lumber and lumber sheet goods prices also restrained the year over year increase in net sales."

For the first nine months, sales were $1 billion, up 2.8 percent over the same period one year ago. Profit increased 43 percent to $10.5 million.

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