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Builders FirstSource supplies building products, prefabricated components, and value-added services for professional new residential construction and repair and remodeling markets. Its updates focus on manufacturing, supply, delivery, and installation of structural and related products, including roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork, pre-hung doors, dimensional lumber, millwork, doors, windows, and specialty building products.
Recurring BLDR news includes quarterly results, housing-start demand conditions, commodity-price effects, gross margin and adjusted EBITDA trends, acquisition contributions, technology and operating-efficiency initiatives, share repurchase authorizations, and executive or governance appointments tied to legal, risk management, compliance, and corporate secretary functions.
Builders FirstSource (Nasdaq: BLDR) and BMC Stock Holdings (Nasdaq: BMCH) announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on November 13, 2020. This allows for the impending combination of the two companies, expected to close in late 2020 or early 2021, pending stockholder approval. Special meetings for stockholder voting are set for December 22, 2020. Both CEOs expressed optimism about the merger, highlighting potential benefits and market expansion opportunities.
Builders FirstSource (BLDR) announced the acquisition of Kansas City Building Supply, enhancing its presence in the Kansas City area. This strategic move brings an annual revenue of approximately $30 million and strengthens BLDR's offerings in interior and exterior doors, windows, cabinetry, and hardware. Chad Crow, CEO, emphasized the importance of this acquisition amidst ongoing merger planning with BMC. The transaction aims to improve customer service and expand growth opportunities for employees and customers alike, positioning Builders FirstSource for increased success in the competitive market.
Builders FirstSource (BLDR) reported a strong third quarter for 2020, achieving a 15.9% increase in net sales to $2.3 billion and a 15% rise in adjusted EBITDA, reaching $184 million. Core organic sales grew by 6.7%, supported by commodity price inflation of 7.2%. The company announced a transformative merger with BMC Stock Holdings to enhance market presence and service offerings. Despite a decline in gross margin percentage to 24.9%, Builders FirstSource concluded the quarter with strong liquidity of $1.2 billion and a stable net debt to EBITDA ratio of 2.3x.
Builders FirstSource, Inc. (Nasdaq: BLDR) will host a conference call on October 30, 2020, at 9:00 a.m. Central Time to discuss its upcoming financial results. The call will be led by CEO Chad Crow and CFO Peter Jackson. A press release detailing the financial results will be available post-market on October 29, 2020. Investors can join the call via a dedicated phone line or listen to a replay after the event. Builders FirstSource is the largest U.S. supplier of building products, with approximately 400 locations across 40 states.
Builders FirstSource and BMC Stock Holdings have announced a transformative all-stock merger to create the leading supplier of building materials in the U.S., with combined annual sales exceeding $11 billion. The merger, approved by both boards, will exchange BMC shares at a fixed ratio and is expected to yield $130 million to $150 million in annual cost synergies by year three. The combined entity will enhance value-added services, expand its geographic reach across 42 states, and improve adjusted EPS in its first year post-closing. Leadership will transition to BMC's CEO, Dave Flitman.
Builders FirstSource (BLDR) reported a 2.2% increase in net sales at $1.9 billion for Q2 2020, despite a 2.1% decline in core organic sales. Acquisitions boosted sales by 2.5%, while commodity inflation contributed 1.8%.
Adjusted EBITDA reached a record $162 million, up 11.2%. Net income rose to $78.9 million or $0.67 per share, marking a significant improvement.
The company enhanced its balance sheet with a net debt-to-EBITDA ratio of 2.3x and liquidity of $1.2 billion.
Builders FirstSource, Inc. (Nasdaq: BLDR) will host a conference call and webcast on July 31 to discuss its financial results. The call begins at 9:00 a.m. Central Time, featuring CEO Chad Crow and CFO Peter Jackson. The press release with financial results will be available post-market closure on July 30. Investors can join by calling 800-458-4121 (U.S.) or 323-794-2093 (international) before the start time. A replay will be accessible until August 15. Builders FirstSource is the largest U.S. supplier of building products, operating approximately 400 locations across 40 states.
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