Builders FirstSource Q1 net sales down 31.6% to $3.9B, EPS $2.41, board authorizes $1B buyback

Builders FirstSource, Inc.

2023-Q1 EPS reported $2.41 revenue$3,883,314,000

Net sales $3.9B (-31.6%); net income $333.8M (-47.8%); diluted EPS $2.41 vs $3.56.
Adjusted EBITDA $631.7M, margin 16.3%; Q2 guidance: sales $4.0-4.2B, EBITDA $525-575M.
Repurchased 7.5M shares for $627.6M in Q1; board approved new $1B share repurchase plan.
Cash from ops $654.4M, free cash flow $554.5M; net debt/LTM adjusted EBITDA ratio 0.8x.
Gross margin up 300bps to 35.3% on multi-family value-added mix; long-term normalized gross margin raised to 28%+.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Builders FirstSource, Inc. reported the first quarter ended March 31, 2023 results: revenue $3.9 billion, net income $333.8 million, EPS $2.41 per diluted share. Guidance raised.

Period: the first quarter ended March 31, 2023
Revenue: $3.9 billion
Net income: $333.8 million
EPS: $2.41 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Builders FirstSource Reports First Quarter 2023 Results Net sales of $3.9 billion, a decrease of 31.6% Net income of $333.8 million Earnings per diluted share of $2.41 per share Adjusted EBITDA of $631.7 million at a margin of 16.3% Repurchased 7.5 million common shares totaling $627.6 million, a 5.4% reduction of shares outstanding May 3, 2023 (Dallas, TX) – Builders FirstSource, Inc. (NYSE: BLDR) today reported its results for the first quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0000950170-23-016874

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