Welcome to our dedicated page for Gms news (Ticker: GMS), a resource for investors and traders seeking the latest updates and insights on Gms stock.
GMS Inc. was a North American specialty building products distributor serving residential and commercial contractors in the United States and Canada. Company news centered on operating results, product-group sales for wallboard, ceilings, steel framing and complementary construction products, tool sales and rental operations, cost actions, acquisitions, greenfield yard openings and capital-structure updates.
GMS coverage also includes corporate-status developments following its completed acquisition by The Home Depot, including the transition from a NYSE-listed public company to a deregistered issuer.
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GMS Inc. (NYSE: GMS) has completed the acquisitions of Engler, Meier & Justus, Inc. and Blair Building Materials, Inc., enhancing its presence in the Chicago market and Greater Toronto Area. Both acquisitions, finalized on April 3, 2023, aim to expand GMS's product offerings, particularly in drywall and building materials. GMS also announced the opening of a new greenfield yard in Ottawa and two AMES® store locations in Myrtle Beach, SC, and Olive Branch, MS, reinforcing its growth strategy. The company emphasizes the importance of expanding its footprint and product range for future growth.
GMS Inc. (NYSE: GMS) reported strong third-quarter results for fiscal 2023, with net sales reaching $1.2 billion, a 7.0% increase year-over-year driven by multi-family and commercial construction growth. Net income rose 5.5% to $64.8 million, or $1.53 per diluted share. Adjusted EBITDA increased 4.3% to $140.8 million, with a margin of 11.4%. The company also improved cash flow, generating $134.1 million from operations. However, single-family demand declined by 10.6%, necessitating cost reduction initiatives to realign expenses, targeting $15 million in savings annually.
GMS Inc. (NYSE: GMS), a top specialty building products distributor in North America, will present at the Raymond James 44th Annual Institutional Investors Conference on March 8, 2023, at 11:35 AM ET. The live webcast will be accessible on the company’s website, with an archived replay available for 180 days. Established in 1971, GMS operates around 300 distribution centers and approximately 100 tool sales, rental, and service centers across the U.S. and Canada, offering products like Wallboard, Ceilings, and Steel Framing. The company's model balances national reach with local focus, enhancing customer service and operational efficiency.
GMS Inc. (NYSE:GMS), a prominent specialty distributor of building products, will announce its financial results for the quarter ending January 31, 2023, on March 2, 2023, before market opening. A conference call is scheduled for the same day at 8:30 a.m. ET, where the company will review its financial performance and recent developments. Investors can access the call and accompanying presentation on GMS's website. Founded in 1971, GMS operates around 300 distribution centers in the U.S. and Canada, providing a wide range of construction products while blending national strategies with local market focus.