Builders FirstSource, Inc. (BLDR) engages in strategic acquisitions and divestitures to expand extensively across vast geographic boundaries and focus on its long-term plans of pursuing growth initiatives in its core value-added business operations. Focusing on the acquisition part of its growth strategy, Builders FirstSource recently acquired Schoeneman's Building Materials Center. The acquisition closed within 45 days of the signing of the letter of intent. This strategic transaction will contribute to th ...

Key TakeawaysThe S&P 500 ticked 0.1% higher on Tuesday, May 7, 2024, holding on to its streak of winning sessions dating back to the middle of last week.Shares of FMC Corp. soared after the agricultural chemical provider issued strong full-year revenue guidance, forecasting a sales boost from new product launches.Building materials supplier Builders FirstSource reported a year-over-year decline in gross profit margin, and its shares tumbled. Major U.S. equities indexes were mixed and little changed on Tuesd ...

Builders FirstSource, Inc. (BLDR) reported better-than-expected results in first-quarter 2024. Both earnings and net sales surpassed the Zacks Consensus Estimate.However, earnings declined year over year and net sales rose slightly from the prior year. A weakening Multi-Family market and higher mortgage rates driving affordability challenges were major headwinds.Shares of this manufacturer and supplier of building materials dipped 12.9% in the pre-market trading session on May 7.On an impressive note, BLDR ...

Financial Performance - Net sales for the three months ended March 31, 2024, were $3.9 billion, a 0.2% increase compared to $3.9 billion for the same period in 2023[101] - Gross margin decreased to 33.4% in Q1 2024 from 35.3% in Q1 2023, while cost of sales increased to 66.6% from 64.7%[101] - Income from operations fell to 9.6% in Q1 2024, down from 12.0% in Q1 2023[101] - Net income for Q1 2024 was 6.7%, a decrease from 8.5% in Q1 2023[101] - The company reported a 1.9% increase in net sales from acquisitions, offset by a 1.7% decline due to commodity price deflation[101] - Selling, general and administrative expenses increased by $22.0 million, or 2.4%, as a percentage of net sales rose to 23.8% from 23.3%[103] Housing Market Outlook - U.S. total housing starts are forecasted to be 1.4 million in 2024, relatively flat compared to 2023, with single-family starts expected to increase by 4.4%[98] Financial Position - Accounts receivable availability decreased to $895.4 million as of March 31, 2024, from $923.8 million at the end of 2023[105] - Inventory availability increased to $1,016.7 million as of March 31, 2024, compared to $920.8 million at the end of 2023[105] - Net excess borrowing availability on revolving facility increased to $1,733.5 million as of March 31, 2024, from $1,265.7 million at the end of 2023[105]

Builders FirstSource, Inc. (NYSE:BLDR) Q1 2024 Earnings Conference Call May 7, 2024 9:00 AM ET Company Participants Heather Kos - Senior Vice President, Investor Relations Dave Rush - Chief Executive Officer Peter Jackson - Chief Financial Officer Conference Call Participants Matthew Bouley - Barclays Mike Dahl - RBC Capital Markets Trey Grooms - Stephens Rafe Jadrosich - Bank of America Keith Hughes - Truist Adam Baumgarten - Zelman & Associates Stanley Elliott - Stifel Collin Verron - Jefferies Tyler Bato ...

Builders® M A Y 7 , 2 0 2 4 Statements in this presentation and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, synergies, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue ...

Builders FirstSource (BLDR) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $2.42 per share. This compares to earnings of $2.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.50%. A quarter ago, it was expected that this construction supply company would post earnings of $2.70 per share when it actually produced earnings of $3.55, delivering a surprise of 31.48%.Over the last fou ...

For Immediate Release May 07, 2024 (Irving, TX) – Builders FirstSource, Inc. (NYSE: BLDR) today reported its results for the first quarter ended March 31, 2024. • Net sales were $3.9 billion, a 0.2% increase, with core organic sales essentially flat, in line with expectations, and growth from acquisitions partially offset by commodity deflation. • Net income decreased 22.5% to $258.8 million, or $2.10 per diluted share compared to $2.41 in the prior year period. Net income per diluted share declined 12.9%. ...

Builders FirstSource, Inc. (BLDR) is slated to report first-quarter 2024 results on May 7, before the opening bell.In the last reported quarter, the company’s adjusted earnings and net sales topped the Zacks Consensus Estimate by 31.5% and 3.4%, respectively. Earnings increased 10.6% but net sales declined 4.7% from the year-ago quarter.The company’s earnings have topped the consensus mark in each of the trailing 22 quarters.Trend in Estimate RevisionThe Zacks Consensus Estimate for BLDR’s first-quarter ear ...

In the latest trading session, Builders FirstSource (BLDR) closed at $186.69, marking a -0.29% move from the previous day. This move lagged the S&P 500's daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.Heading into today, shares of the construction supply company had lost 9.56% over the past month, lagging the Retail-Wholesale sector's loss of 2.56% and the S&P 500's loss of 3.01% in that time.The investment community will be cl ...