The 2020 Mid-Year Economic Update_long

Stock Building Supply Sales Up 9.5% in 2Q

NULL

Stock Building Supply, Inc. (NASDAQ: STCK), Raleigh, NC, reported sales for the second quarter of $344.6 million, a 9.5 percent increase over the same period a year ago. Profit increased to $5.6 million, compared to a year ago profit of $2 million. 

“While U.S. single-family housing starts increased only 1.2 percent in the first half of 2014 compared to the prior year period, our sales and service professionals delivered double-digit growth during this time period in key product categories such as structural components, millwork and interior products and windows and exterior products,” said Jeff Rea, president and CEO. “Our sales to remodeling contractors increased nearly 13 percent in the second quarter as compared to the prior year, and we continued to invest in strategic growth initiatives aimed at improving our service capabilities for this customer segment. Additionally, in the second quarter we expanded our structural component capacity in North Carolina and Utah and opened a new distribution and customer support facility in north Charlotte.”

For the first six months, sales were $624.6 million, up 10.9 percent over the same period one year ago. Profit was $2.3 million, compared to a year-ago loss of $3.6 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com