Stock Building Supply Earnings Up in Fourth Quarter of 2014

February 26th, 2015 by Editor

Stock Building Supply of Raleigh, N.C., reported on Tuesday that its fourth-quarter net sales rose to $317.1 million, a 3.9 percent increase from the fourth quarter of 2013.

However, the retailer of doors, windows and other building materials reported an adjusted net income of $3 million, or 12 cents per share. That was down from $3.1 million in the same period in 2013. Most Wall Street analysts expected earnings of 15 cents per share.

The company’s gross profit hit $75.8 million in the fourth quarter, up 2.8 percent from the same period a year ago.

“During 2014, the U.S. housing market maintained a gradual and steady pace of recovery and our business teams continued to drive solid relative growth across our end-use market segments,” Stock CEO Jeff Rea said in a statement. “Focused execution on our initiatives to grow strategic product and customer segment categories enabled our local market teams to deliver net sales volume growth of nearly 10% for full year 2014. In addition, we continued to invest in our distribution, manufacturing and technology platforms to expand our strategic service capabilities, which we believe will enhance our profitable growth potential.”

Tags:

Leave Comment