Stock Building Supply today posted a net income of $3.1 million in 4Q 2014, an improvement over its net income of of $2.9 million in the fourth quarter of 2013. The company also grew its net sales to $317 million, up 3.9% from $305.1 million in the fourth quarter, 2013.
The ninth largest ProSales 100 company also grew its fourth quarter gross margin percentage to 23.9%, up 10 basis points compared to its 4Q2013 gross margin percentage of 23.7%. The company attributes those gains to the recovering U.S. housing market and its growing sales of structural component and millwork products.
“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,” said Stock CEO
Jeff Rea. “We successfully leveraged this above-market growth to increase gross profit dollars by over 12% and Adjusted EBITDA by nearly 33% compared to 2013.”
On the year, Stock recorded a net income of $10.4 million on sales of $1.29 billion, a stark increase from its full-year net loss of $4.6 million in 2013.
