Builders Firstsource Inc Stock Price, News & Analysis

Builders FirstSource (NYSE: BLDR) has announced a conference call and webcast scheduled for Tuesday, November 5, 2024, to discuss the company's financial results and other business matters. The teleconference will begin at 8:00 a.m. Central Time and will be hosted by Dave Rush (current President and CEO), Peter Jackson (incoming CEO and current CFO), and Pete Beckmann (incoming CFO and current SVP of Financial Planning & Analysis).

Participants can dial in at 800-245-3047 (U.S. and Canada) or 203-518-9765 (international) using Conference ID: BLDRQ324. A replay will be available from 12:00 p.m. Central Time until November 12, 2024. The live webcast and archived replay can be accessed on the company's investor relations website at investors.bldr.com, with the online archive available for approximately 90 days.

Builders FirstSource (NYSE: BLDR) announces a planned CEO and CFO transition. Peter Jackson, current CFO, will become President & CEO and join the Board of Directors on November 6, 2024. He succeeds Dave Rush, who is retiring after 25 years with the company but will remain on the Board and serve as a special advisor. Pete Beckmann, Senior VP of Financial Planning & Analysis, will succeed Jackson as CFO.

Jackson brings nearly 30 years of leadership experience, including 17 years in building products and 7 years with Builders FirstSource. He has been instrumental in the company's growth strategy, overseeing capital allocation, M&A, and digital transformation. The Board views this transition as part of a thoughtful succession plan to lead the company into its next phase of profitable growth.

Builders FirstSource (NYSE: BLDR) has announced a new $1 billion share repurchase authorization on August 5, 2024. This decision reflects the company's confidence in its strategy, operating model, and financial strength. Key highlights include:

- Year-to-date repurchase of 5.9 million shares at an average price of $170.55 per share, totaling $1.0 billion
- 4.4% reduction in total shares outstanding in 2024
- Since August 2021, repurchase of 93.0 million shares (45.0% of total shares) at an average price of $76.65 per share, totaling $7.1 billion
- 116.5 million shares outstanding as of June 30, 2024

The company's Chairman, Paul S. Levy, emphasized BLDR's strong position in the housing industry and its commitment to creating shareholder value through value-added solutions, digital tools, and operational excellence.

Builders FirstSource (NYSE: BLDR) reported Q2 2024 results with net sales of $4.5 billion, a 1.6% decrease YoY, driven by a 3.8% decline in core organic sales. Gross profit margin decreased 240 basis points to 32.8%, impacted by Multi-Family sector challenges. Net income fell 15% to $344.1 million, or $2.87 per diluted share. Adjusted EBITDA decreased 12.9% to $669.7 million.

Despite lower sales, cash provided by operating activities rose to $452.1 million, and free cash flow increased 35.9% to $366.7 million. The company repurchased 5.8 million shares for $989.6 million. CEO Dave Rush highlighted maintaining a mid-teens EBITDA margin, while CFO Peter Jackson noted nearly $1 billion in share repurchases and three acquisitions.

Looking ahead, BLDR projects 2024 net sales of $16.4-$17.2 billion, with an adjusted EBITDA of $2.2-$2.4 billion. Challenges include weaker Single-Family starts and Multi-Family declines, but strategic investments and strong financial flexibility are emphasized.

Builders FirstSource (NYSE: BLDR) will hold a conference call and webcast on August 6, 2024, to discuss its second quarter financial results and other business matters. The call, hosted by CEO Dave Rush and CFO Peter Jackson, begins at 8:00 a.m. Central Time. Interested parties in the U.S. and Canada can dial 800-225-9448, while international participants can use 203-518-9708, Conference ID: BLDRQ224. A replay will be accessible starting at 12:00 p.m. Central Time on August 6 through August 13, 2024, via 800-723-7372 (U.S. and Canada) or 402-220-2666 (international). Additionally, the live webcast and a 90-day archived replay will be available on the company's investor relations website, investors.bldr.com, under Events and Presentations.

Builders FirstSource® has acquired Schoeneman's Building Materials Center with the help of 1stWEST M&A as the advisor. The acquisition process was completed efficiently within 45 days. Schoeneman's, known for its experienced staff and wide range of building materials, has been a trusted name since 1888. Builders FirstSource sees this acquisition as a valuable addition to their portfolio in the lumber and building material sector.

Builders FirstSource, Inc. reported $3.9 billion in net sales for Q1 2024, a 0.2% increase driven by acquisitions but offset by commodity deflation. Gross profit margin decreased to 33.4%, net income declined 22.5% to $258.8 million, and Adjusted EBITDA decreased 14.4% to $540.9 million. Cash provided by operating activities was $317.2 million, while free cash flow was $227.6 million. The Company repurchased shares and completed a senior notes offering. The 2024 outlook includes projected net sales of $17.5-18.5 billion, with a gross profit margin of 30-33% and Adjusted EBITDA of $2.4-2.8 billion.

Builders FirstSource, the nation's largest supplier of building products, released its 2024 Corporate Social Responsibility report, showcasing its commitment to sustainability and value creation for customers, team members, and stakeholders. The report highlights achievements in safety, team member benefits, community support, sustainable operations, and emission reduction targets. Investors can access the full report on the Investor Relations website.