Earnings ·
Builders FirstSource reports Q3 diluted EPS of $0.56 on $3.9B sales
BLDRBuilders FirstSource, Inc.
Builders FirstSource reported third-quarter net income of $60.4 million, or $0.56 per diluted share, down from $1.10 in the prior year period. Net sales decreased 2.2% to $3.9 billion, driven by a lower housing starts environment and commodity deflation that reduced gross profit margin by 260 basis points to 27.8%. Adjusted EBITDA fell 28.3% to $311.1 million with an 8.1% margin. The company maintained its full-year net sales and adjusted EBITDA midpoints, citing disciplined execution despite challenging market conditions. Builders FirstSource is a leading provider of building materials for professional builders in new residential construction and repair and remodeling.