The 2020 Mid-Year Economic Update_long

Stock Building Supply Sales Up 7.8% in 3Q

Sales increased 9.7 percent year-over-year.

Stock Building Supply, Inc. (NASDAQ: STCK), Raleigh, NC, reported sales for the third quarter of $354.1 million, a 7.8 percent increase over the same period a year ago. Profit increased to $5 million, compared to a year ago net loss of $5.5 million.

"While the U.S. housing market has been slower than anticipated so far in 2014, our service professionals have once again delivered solid operating result improvements," said Jeff Rea, president and CEO. "We anticipate a continued, gradual recovery in the housing market from today's levels and remain focused on both near-term and longer-term value creation activities. Additionally, we are maintaining the pace of investment in our strategic service and growth initiatives which we expect will enhance the strength of our business moving forward."

For the first nine months, sales were $978.6 million, up 9.7 percent over the same period one year ago. Profit was $7.3 million, compared to a year-ago loss of $7.9 million.

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