earnings
confidence high
sentiment negative
materiality 0.80
Builders FirstSource Q2 net income down 15% to $344M; authorizes $1B buyback
Builders FirstSource, Inc.
2024-Q2 EPS reported
$4.95
revenue$8,347,692,000
- Net sales $4.5B (-1.6% YoY); net income $344.1M ($2.87 diluted EPS) vs $404.6M ($3.16) prior year.
- Adjusted EBITDA $669.7M (-12.9%); margin down 200 bps to 15.0%. Gross margin down 240 bps to 32.8%.
- Repurchased $989.6M shares in Q2; Board authorizes new $1B share repurchase plan.
- FY2024 guidance: net sales $16.4-17.2B, Adj EBITDA $2.2-2.4B, free cash flow $1.0-1.2B.
- Core organic sales down 3.8%; Multi-Family starts expected to fall 25-30% in FY2024.