Builders Firstsource Inc Stock Price, News & Analysis

Builders FirstSource (NYSE: BLDR) announced the launch of a $300 million offering of 4.250% Senior Notes due 2032. This offering is part of the same series as the previously issued $1 billion notes. The proceeds will be used to repay part of its senior secured ABL facility and cover related fees. The offering is subject to market conditions, and the Notes will not be registered under the Securities Act, limiting their sale to qualified institutional buyers and non-U.S. persons.

Builders FirstSource has successfully raised over $1 million for The Leukemia & Lymphoma Society (LLS) in 2021, contributing to the fight against blood cancer. The company has a long-standing partnership with LLS, raising over $5.6 million over 15 years. Additionally, Builders FirstSource commits more than $1 million to various charitable organizations focusing on disaster relief and veteran support, including the American Red Cross and Tunnel to Towers Foundation. The company's commitment highlights its dedication to social responsibility and community support.

Builders FirstSource has acquired National Lumber, the largest independent building materials supplier in New England, significantly enhancing its Northeast network. National Lumber operates 19 facilities with over 700 employees and expects sales of approximately $440 million for 2021. This acquisition allows Builders FirstSource to expand its product offerings and services in New England, particularly in prefabricated components and millwork, while also pursuing further growth opportunities.

Builders FirstSource (BLDR) announced a new share repurchase program, authorizing the buyback of an additional $1 billion in common shares, augmenting the total repurchase capacity to approximately $1.147 billion. CEO Dave Flitman expressed confidence in the company's strategy and financial strength, emphasizing a commitment to shareholder value. With about $147 million remaining from a prior authorization, the company showcases robust cash generation, intending to execute repurchases based on market conditions and internal assessments.

Builders FirstSource reported record financial results for Q3 2021, with net sales of $5.5 billion, a 62.7% increase year-over-year driven by the BMC merger and strong organic growth. Gross profit surged 102.9% to $1.7 billion, while adjusted EBITDA increased 244.4% to $975.9 million, achieving a margin of 17.7%. Net income reached $613.1 million or $2.98 per diluted share. The company also generated $1.1 billion in free cash flow and repurchased over 5% of its shares. Builders FirstSource remains optimistic for the future, with an upwardly revised outlook for 2021.

Builders FirstSource (NYSE: BLDR) has announced an upcoming Investor Day on December 7, 2021, at 10:00 a.m. ET, featuring presentations from CEO Dave Flitman and CFO Peter Jackson. The event will provide insights into the company's core business drivers, strategic vision, and key initiatives in innovation and sustainability. Scheduled to be held in Dallas, Texas, the event will also be available via live webcast. Registration details for in-person attendance will be released soon. Archived copies of the webcast will be accessible post-event.

Builders FirstSource (NYSE: BLDR) will host a conference call on November 4, 2021, at 8:00 a.m. CT to discuss its Q3 2021 financial results. The press release with detailed financial metrics will be available at 6:00 a.m. CT on the same day. Interested participants can join the call by dialing 866-518-6930 (U.S.) or 1-203-518-9797 (international), using the Conference ID: BLDRQ32021. A replay will be accessible until November 11, 2021. Builders FirstSource operates in 39 states, providing a wide range of building products to the professional market.

Builders FirstSource (BLDR) announced the acquisition of Apollo software assets from Katerra for approximately $4.5 million. The Apollo platform enhances design collaboration, budgeting, and scheduling in construction, aiming to improve efficiency in homebuilding processes. This acquisition complements Builders FirstSource's recent purchase of WTS Paradigm and aligns with its digital strategy to innovate in the construction industry. The company's President and CEO, Dave Flitman, emphasized their commitment to leading technological advancements in home construction.

Builders FirstSource has announced the acquisition of California TrusFrame for $179.5 million, enhancing its value-added components business in California. Established in 1982, CTF is the largest independent producer of prefabricated building products in the state, with trailing twelve-month sales of approximately $143 million as of July 31, 2021. The acquisition will help Builders FirstSource expand its offerings and production capacity, serving the largest housing market in the U.S.