Shares of Builders FirstSource (NYSE: BLDR ) have been a strong performer over the past year, gaining 45%. However, shares are down over 10% from their highs as mortgage rates have stayed higher. Given these challenges, Builders reported mixed Q3 results, but optimisticOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40620 BUILDERS FIRSTSOURCE, INC. (Exact name of registrant as specified in its charter) Delaware 52-2084569 (State or other jurisdictio ...

Builders® Footnote OUTPERFORM TODAY. TRANSFORM TOMORROW. Q3 2024 Earnings Presentation D A V E R U S H , C E O P E T E R J A C K S O N , C E O D e s i g n a t e a n d C F O P E T E B E C K M A N N , C F O D e s i g n a t e N O V E M B E R 5 , 2 0 2 4 Safe Harbor & Non-GAAP Financial Measures Footnote Cautionary Notice Statements in this presentation and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about forecasted financial per ...

Financial Data and Key Metrics Changes - Net sales for Q3 2024 were $4.2 billion, a decrease of 6.7%, driven by a 7.2% decline in core organic sales and 2.9% commodity deflation [37] - Adjusted EBITDA was approximately $627 million, down 23%, with an adjusted EBITDA margin of 14.8%, down 310 basis points from the prior year [43] - Adjusted net income was $360 million, down $174 million from the prior year, with adjusted earnings per diluted share at $3.07, a decrease of 28% compared to the prior year [44] Business Line Data and Key Metrics Changes - Install services sales increased by 11% year-over-year, focusing on helping customers address labor challenges [20] - Value-added products represented 49% of net sales during Q3, with multifamily sales comprising roughly 70% of value-added products [40] - SG&A expenses increased by $19 million to $958 million, primarily due to acquired operations and asset write-offs [41] Market Data and Key Metrics Changes - Single-family housing starts continued to show softness amid affordability challenges, with a 4.6% decline in single-family sales [21] - Multifamily sales experienced a 31% decline year-over-year, with expectations of continued headwinds [38] - The company anticipates a regional financial impact from Hurricane Helene and Milton, around $40 million in sales [48] Company Strategy and Development Direction - The company aims to enhance its talent investment and development, improve growth prospects, and foster collaboration across regions [15][16] - The focus remains on maintaining strong gross margins and operational flexibility while navigating market challenges [18][20] - The company continues to pursue M&A opportunities, completing six deals in Q3 with an aggregate 2023 sales of roughly $190 million [26] Management's Comments on Operating Environment and Future Outlook - Management noted mixed reactions to the Fed's interest rate cuts, with some homebuyers remaining cautious [21] - The company expects to see a differentiated reaction to future rate cuts, with potential for recovery in certain markets [58] - Management expressed confidence in the long-term strength of the housing market due to significant underbuilding and favorable demographic trends [54] Other Important Information - The company executed share repurchases of roughly $160 million during Q3, continuing to allocate capital to high-return opportunities [29] - The 2024 outlook includes expected total company net sales of $16.25 billion to $16.55 billion and adjusted EBITDA of $2.25 billion to $2.35 billion [48][49] Q&A Session Summary Question: Growth versus market in 2025 scenarios - Management acknowledged market choppiness and mixed reactions to interest rate cuts, indicating a cautious outlook for growth relative to the market [58] Question: Confirmation of gross margin guide - Management confirmed an expected exit rate of approximately 31.5% for gross margins in 2024, with competitive dynamics impacting margins [59][60] Question: 2025 scenario assumptions - Management indicated that the 2025 scenarios are based on economist forecasts and include assumptions for commodity prices and productivity improvements [72] Question: Impact of multifamily on manufactured products - Management noted a significant decline in multifamily manufactured products, with expectations for continued normalization [79] Question: Trends in single-family housing sizes - Management confirmed expectations for flattening trends in single-family housing sizes, with no significant deterioration anticipated [76]

Builders FirstSource (BLDR) reported lackluster results for the third quarter of 2024, with earnings and net sales missing the Zacks Consensus Estimate.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Also, both the metrics declined year over year owing to lower core organic sales and commodity deflation, partially offset by growth from acquisitions and one additional selling day. Margins also declined due to ongoing Multi-Family and core organic normalization.Owing to the expected i ...

Builders FirstSource (BLDR) came out with quarterly earnings of $3.07 per share, missing the Zacks Consensus Estimate of $3.09 per share. This compares to earnings of $4.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.65%. A quarter ago, it was expected that this construction supply company would post earnings of $3.14 per share when it actually produced earnings of $3.50, delivering a surprise of 11.46%.Over the last fo ...

For Immediate Release Builders FirstSource Reports Third Quarter 2024 Results November 5, 2024 (Irving, TX) – Builders FirstSource, Inc. (NYSE: BLDR) today reported its results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights All Year-Over-Year Comparisons Unless Otherwise Noted: • Net sales were $4.2 billion, a 6.7% decrease, driven by lower core organic sales and commodity deflation, partially offset by growth from acquisitions and one additional selling day. • Gross profit ma ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Builders FirstSource (BLDR) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on N ...

Builders FirstSource (BLDR) closed the most recent trading day at $196.71, moving +1.92% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.77% for the day. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.87%. The construction supply company's stock has climbed by 5.29% in the past month, falling short of the RetailWholesale sector's gain of 5.56% and outpacing the S&P 500's gain of 4.87%. The investment com ...

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Considering buying BLDR stock? Here's what analysts think: Builders FirstSource Inc has a consensus price target of $182.26 based on the ratings of 21 analysts. The high is $230 issued by Loop Capital on September 20, 2024. The low is $68 issued by DA Davidson on November 9, 2022. The 3 most-recent analyst ratings were r ...