Gms Inc Stock Price, News & Analysis

GMS reported impressive fiscal Q2 2022 results with net sales of $1.15 billion, a 41.5% increase compared to Q2 2021. Net income surged to $74.4 million or $1.69 per diluted share, while adjusted net income rose to $87.8 million or $2.00 per diluted share. Adjusted EBITDA climbed 81.2% to $149.5 million. Despite a 32.3% gross margin decline of 30 basis points, SG&A expenses improved significantly. The company also announced strategic acquisitions to bolster market position, with positive signs for future commercial construction.

GMS Inc. (NYSE: GMS) has successfully completed its acquisition of AMES Taping Tools LLC, a leader in automatic taping and finishing tools, for $212.5 million, funded through cash and credit facilities. This acquisition is part of GMS's growth strategy to expand product offerings and enhance customer service. Additionally, GMS acquired Kimco Supply Company, strengthening its presence in Florida's construction market. The company has also opened a new greenfield location in Johnson City, TN, further solidifying its operational footprint.

GMS Inc. (NYSE:GMS) announced it will unveil financial results for the fiscal quarter ending October 31, 2021, on December 2, 2021, before the market opens. A conference call is scheduled for the same day at 8:30 a.m. eastern time, where financial results will be reviewed, and a Q&A session will follow. GMS, marking its 50th anniversary, operates over 280 distribution centers across the U.S. and Canada, specializing in interior building products including wallboard and ceilings.

GMS Inc. (NYSE: GMS) has announced a definitive agreement to acquire AMES Taping Tools Holding LLC for $212.5 million in cash. This acquisition aims to enhance GMS’s offerings in the drywall finishing industry and is expected to close in the fiscal third quarter of 2022. AMES, which achieved net sales of approximately $100 million in the last fiscal year, will continue operating under its brand. The transaction is anticipated to improve GMS’s market presence and yield accretive EBITDA margins.

GMS Inc. (NYSE: GMS), a top North American distributor of interior building products, will present at Baird's 2021 Global Industrial Conference on November 9, 2021, at 10:50 AM ET. The live presentation will be available on the company's website, with an archived replay accessible for at least 14 days. Celebrating its 50th anniversary, GMS operates over 280 distribution centers in the U.S. and Canada, offering products such as wallboard and suspended ceiling systems, catering to interior contractors in commercial and residential sectors.

GMS Inc. (NYSE: GMS) has announced that board members Teri P. McClure and Randolph W. Melville have been recognized in Savoy Magazine’s 2021 Most Influential Black Corporate Directors list. This prestigious accolade acknowledges their professional achievements and community efforts. McClure, former executive at UPS, and Melville, ex-SVP at PepsiCo, contribute significant experience to GMS’s board. This recognition emphasizes GMS's commitment to diversity and strong governance leadership.

GMS Inc. (NYSE: GMS), a top distributor of interior building products, will present at the RBC Capital Markets Global Industrials Conference on September 9, 2021, at 3:20 PM Eastern Time. The session will be streamed live on the company’s website, with an archived replay available for 14 days. Celebrating its 50th anniversary, GMS operates over 280 distribution centers in the U.S. and Canada, offering a wide range of products including wallboard and suspended ceiling systems, catering primarily to interior contractors.

GMS Inc. (NYSE: GMS) reported record financial results for the fiscal first quarter ending July 31, 2021. Net sales surpassed $1 billion, totaling $1.04 billion, a 29.8% increase year-over-year. Net income more than doubled to $61.2 million, or $1.39 per diluted share. Adjusted EBITDA increased by 54.2% to $128.1 million, with a margin improvement of 200 basis points to 12.3%. The company completed two acquisitions and opened five new locations, while net debt leverage decreased to 2.7 times. GMS expects continued growth through strategic expansions and enhanced product offerings.

GMS Inc. (NYSE:GMS) will release its financial results for the fiscal quarter ending July 31, 2021, before market opening on September 2, 2021. A conference call is scheduled for the same day at 8:30 a.m. ET, to discuss the results and recent events. Investors can view the call via webcast on the Company's website, with a replay available post-event. Now celebrating its 50th anniversary, GMS operates over 280 distribution centers in North America, providing a wide range of interior building products including wallboard and steel framing for contractors.