Builders Firstsource Inc Stock Price, News & Analysis

Builders FirstSource (NYSE: BLDR) reported its Q4 and full-year 2024 results, highlighting an 8.0% decrease in Q4 net sales to $3.8 billion, driven by lower core organic sales and commodity deflation. Gross margin dropped 300 basis points to 32.3%, and net income fell to $190.2 million, with diluted EPS of $1.65. Adjusted EBITDA decreased by 28.0% to $493.6 million.

For the full year, net sales were $16.4 billion, a 4.1% decrease. Gross profit was $5.4 billion, down 10.5%, with a gross margin of 32.8%. Net income was $1.1 billion, or $9.06 per diluted share, a 30.0% decrease. Adjusted EBITDA decreased by 19.6% to $2.3 billion.

The company repurchased 8.9 million shares in 2024, reducing outstanding shares by 6.8%. Free cash flow was $1.5 billion, down $0.4 billion. Liquidity stood at $1.8 billion. For 2025, BLDR expects net sales of $16.5-$17.5 billion, a gross margin of 30%-32%, and adjusted EBITDA of $1.9-$2.3 billion.

CEO Peter Jackson emphasized resilience and future growth through value-added solutions and acquisitions. CFO Pete Beckmann highlighted strong free cash flow and balanced capital allocation.

Builders FirstSource (NYSE: BLDR) has appointed two new members to its Board of Directors, effective March 1, 2025. Cheryl Ainoa, Former EVP and CTO for Walmart Global Technology, and Maria Renz, VP and General Manager for Google, will join the board, bringing extensive expertise in e-commerce, technology, and digital innovation.

Ainoa previously served as CTO for Sam's Club and held senior roles at D2L, Intuit, and Yahoo!. She brings experience in software development, engineering, and emerging technologies. Renz, currently at Google, previously led Commerce operations and spent 20 years at Amazon, where she was the first woman Technical Advisor to the CEO.

The appointments align with BLDR's strategy to enhance its digital tools and innovation capabilities. The company operates in 43 states with approximately 590 locations, serving as the largest U.S. supplier of building products to the professional market segment.

Builders FirstSource (NYSE: BLDR) has announced its upcoming fourth quarter and full year 2024 financial results conference call and webcast, scheduled for Thursday, February 20, 2025. The teleconference will begin at 8:00 a.m. Central Time, led by President and CEO Peter Jackson and CFO Pete Beckmann.

Participants can join the call by dialing 800-445-7795 (U.S. and Canada) or 785-424-1699 (international) using Conference ID: BLDRQ424. A replay will be available from 12:00 p.m. Central Time through February 27, 2025, accessible at 800-753-5575 (U.S. and Canada) or 402-220-0683 (international). The webcast can be accessed on the company's investor relations website at investors.bldr.com, where it will remain available for approximately 90 days.

Builders FirstSource (NYSE: BLDR) has announced a definitive agreement to acquire Alpine Lumber Company, a Colorado-based employee-owned business with 21 locations serving Colorado and northern New Mexico. Alpine, founded in 1963, reported trailing twelve-month sales of approximately $500 million as of November 2024.

The acquisition, expected to close in early Q1 2025, will be funded through existing cash and credit facilities. The deal is anticipated to be accretive to BLDR's adjusted earnings per share in 2025. Alpine's CEO Hamid Taha will remain during the transition period to ensure successful business integration.

This strategic acquisition expands BLDR's geographic presence in the West Division and aligns with their capital deployment strategy for high-growth investments.

Builders FirstSource (NYSE: BLDR) reported Q3 2024 results with net sales of $4.2 billion, down 6.7% year-over-year, primarily due to lower core organic sales and commodity deflation. Net income decreased 36.9% to $284.8 million, or $2.44 per diluted share. Gross profit margin fell 210 basis points to 32.8%. The company maintained strong cash flow, with operating cash flow of $730.0 million and free cash flow of $634.7 million, up 18.0%. Notable changes include CEO Dave Rush's retirement announcement and the company's repurchase of 0.9 million shares for $159.7 million.

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.