Builders FirstSource Q2 net sales $4.5B (-34.6% YoY), EPS $3.16; raises gross margin outlook

Builders FirstSource, Inc.

2023-Q2 EPS reported $5.54 revenue$8,412,204,000

Net sales $4.5B, down 34.6% YoY (core organic -22.3%, commodity deflation -16.2%, acquisitions +3.9%); net income $404.6M vs $987.2M.
Adjusted EBITDA $768.8M (margin 17.0%) vs $1.51B (21.8%) a year ago; adjusted EPS $3.89 vs $6.26.
Repurchased 7.0M shares in Q2 for $722.7M (avg $103.68); YTD shares outstanding reduced 10.5%.
Updated long-term normalized gross margin expectation to 29%+ (from 28%+); 2023 outlook: net sales $16.8-17.8B, adj. EBITDA $2.6-2.9B.
Single-Family core organic sales -31.0%; Multi-Family +29.6%; R&R/Other +4.6%; value-added product mix improved to 53% of sales.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Builders FirstSource, Inc. reported the second quarter ended June 30, 2023 results: revenue $4.5 billion, net income $404.6 million, EPS $3.16 per diluted share. Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $4.5 billion
Net income: $404.6 million
EPS: $3.16 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Builders FirstSource Reports Second Quarter 2023 Results Net sales of $4.5 billion, a decrease of 34.6% Net income of $404.6 million Earnings per diluted share of $3.16 per share

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Source: SEC EDGAR

accession 0000950170-23-036821

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