This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Building Supply Announces 2014 Second Quarter Results

Stocks in this article: STCK

RALEIGH, N.C., July 29, 2014 (GLOBE NEWSWIRE) -- Stock Building Supply Holdings, Inc. (Nasdaq:STCK), a large, diversified lumber and building materials distributor and solutions provider that sells primarily to new construction and remodeling contractors, today reported its financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Financial Highlights

  • Net sales of $344.6 million, up 9.5%, compared to $314.7 million in the prior year period
  • Operating income of $8.9 million, up 130.1%, compared to $3.9 million in the prior year period
  • Net income of $5.6 million, compared to $2.0 million in the prior year period
  • Adjusted income from continuing operations of $5.8 million, compared to $3.2 million in the prior year period
  • Adjusted EBITDA of $12.9 million, compared to $9.0 million in the prior year period

Commenting on the Company's results, Jeff Rea, President and Chief Executive Officer of Stock Building Supply, stated, "During the second quarter, we continued to grow at above-market rates with overall sales volume increasing approximately 13% and gross profit dollars increasing 15%. While U.S. single-family housing starts increased only 1.2% 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. Furthermore, our sales to remodeling contractors increased nearly 13% 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."

Jim Major, Executive Vice President and Chief Financial Officer, stated, "Our focused sales and productivity initiatives continue to drive gross margin improvements and increases in adjusted EBITDA. Second quarter gross margin improved approximately 120 basis points to 23.9% as compared to the prior year period, reflecting the benefits of our growth with key customer groups and value-added product categories. Adjusted EBITDA increased $3.9 million, which represented a pull-through of 13.1% of incremental net sales. We continue to maintain a balanced approach to funding growth investments to bolster our market position while driving improvements in our operating margins."

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs