Builders Firstsource Inc Stock Price, News & Analysis

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.

Builders FirstSource (Nasdaq: BLDR) has completed its acquisition of WTS Paradigm, LLC, enhancing its technological capabilities. Paradigm specializes in software solutions for the building products industry and will operate independently. This acquisition is expected to generate $1 billion in incremental sales over the next five years. The innovative Paradigm Omni™ technology will streamline processes for homebuilders, boosting efficiency and reducing costs. Builders FirstSource continues to focus on expanding its digital footprint and meeting market demands in the homebuilding sector.

Builders FirstSource (NYSE: BLDR) has authorized a share buyback program worth $1 billion to enhance shareholder value. CEO Dave Flitman emphasized the company's commitment to long-term growth, following the merger with BMC. As of August 11, 2021, Builders FirstSource holds approximately $417 million in cash, projecting $1.4 to $1.6 billion in free cash flow for 2021. The timing and amount of share repurchases will be determined based on business needs and market conditions, providing flexibility in capital allocation.

Builders FirstSource reported record net sales of $5.6 billion in Q2 2021, a 186.6% increase year-over-year, primarily due to the BMC merger and strong organic growth. Core organic sales rose 35%, driven by demand in single-family housing. Net income reached $497.2 million, equating to $2.39 per diluted share. Adjusted EBITDA increased 231.6% to $835.8 million, with a margin of 15%. The company anticipates a revenue growth of 41%-48% over 2020 and is raising its full-year guidance for adjusted EBITDA by 28%.