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 June 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 jurisdiction of ...

Builders FirstSource, Inc. (BLDR) reported mixed results for the second quarter of 2024 with earnings surpassing the Zacks Consensus Estimate but net sales missing the same. Both earnings and sales declined year over year owing to weaker-than-expected Single-Family starts, slowing Multi-Family, and broader housing affordability challenges. Shares of this manufacturer and supplier of building materials dipped 5.4% in the pre-market trading session on Aug 6. On an impressive note, BLDR achieved around $37 mil ...

Financial Data and Key Metrics Changes - Net sales for Q2 2024 were $4.5 billion, a decrease of 1.6% year-over-year, with core organic sales declining by 3.8% [17] - Adjusted EBITDA was approximately $670 million, down 13% compared to the prior year, with an adjusted EBITDA margin of 15%, a decrease of 200 basis points [19] - Gross profit was $1.5 billion, an 8% decrease year-over-year, with gross margins at 32.8%, down 240 basis points [19] - Adjusted earnings per diluted share were $3.50, a decrease of 10% compared to the prior year [20] Business Line Data and Key Metrics Changes - Installed sales increased by 15% year-over-year, focusing on addressing labor challenges [8] - Value-added products represented approximately 49% of net sales during Q2 [19] - The multi-family segment saw a decline of 31%, while single-family and repair & remodel segments increased by 1% and 1.5% respectively [17] Market Data and Key Metrics Changes - The single-family growth momentum has stalled due to lower-than-expected starts and affordability challenges [9] - The value of new starts has decreased as the market adapts to affordability issues, with builders opting for smaller and simpler homes [10] - In the Phoenix market, the company supplied materials to 45% more homes, but dollar sales only increased by 15% [18] Company Strategy and Development Direction - The company continues to invest in value-added products, installed services, and digital solutions to enhance customer efficiency and operational effectiveness [5] - A disciplined approach to capital allocation includes a proven M&A strategy and share repurchase program, with nearly $1 billion in shares repurchased in Q2 [13] - The digital platform has seen strong adoption, with over $250 million in orders placed through it since its launch [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges in the current housing market but remains confident in long-term growth due to favorable demographic trends and housing underbuilding [27] - The company has lowered its full-year 2024 guidance for net sales to $16.4 billion to $17.2 billion, down from a previous range of $17.5 billion to $18.5 billion [22] - Management expects continued normalization in the multi-family segment and anticipates a rebound in 2025 as rental rates become more favorable compared to mortgage rates [60] Other Important Information - The company completed three acquisitions in Q2 with aggregate 2023 sales of approximately $72 million [12] - The company raised over $1 million for the Leukemia & Lymphoma Society, bringing total contributions to nearly $12 million since 2006 [15] Q&A Session Summary Question: Inquiry about gross margin expectations for Q4 and 2025 - Management indicated that they expect to exit 2024 with gross margins around 31%, with potential headwinds in 2025 due to multi-family normalization [30][40] Question: Clarification on EBITDA guidance changes - The decline in EBITDA guidance is primarily attributed to changes in commodity prices, with the bulk of the decline being due to deleveraging effects [33][36] Question: Multi-family margin normalization and outlook - Management noted that multi-family margins have seen a decline of 50 to 100 basis points, with expectations of continued headwinds throughout the year [50][51] Question: Market share trends and competitive behavior - The company plans to pursue market share in a disciplined manner, focusing on win-win scenarios with customers while maintaining strong margins [52][55] Question: Competitive pricing in the lumber market - Management acknowledged competitive pricing pressures but emphasized their strategy of providing value-added packages to customers [54][57]

Builders FirstSource (BLDR) came out with quarterly earnings of $3.50 per share, beating the Zacks Consensus Estimate of $3.14 per share. This compares to earnings of $3.89 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 11.46%. A quarter ago, it was expected that this construction supply company would post earnings of $2.42 per share when it actually produced earnings of $2.65, delivering a surprise of 9.50%. Over the last f ...

Footnote Builders® OUTPERFORM TODAY. TRANSFORM TOMORROW. Q2 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 F O A U G U S T 6 , 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 performance or other statements about anticipations, beliefs, expectations, hopes, syne ...

For Immediate Release Builders FirstSource Reports Second Quarter 2024 Results August 6, 2024 (Irving, TX) – Builders FirstSource, Inc. (NYSE: BLDR) today reported its results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights All Year-Over-Year Comparisons Unless Otherwise Noted: • Net sales were $4.5 billion, a 1.6% decrease, with core organic sales down 3.8% as Multi-Family continues to trend downward, partially offset by growth from acquisitions and Single Family. • Gross profit ...

Builders FirstSource, Inc. (BLDR) is slated to report second-quarter 2024 results on Aug 6, before the opening bell. In the last reported quarter, the company's adjusted earnings topped the Zacks Consensus Estimate but declined 10.5% year over year due to tepid net sales and a timing shift in product mix toward lower margins. The weakening Multi-Family market and higher mortgage rates were major headwinds despite growth in the Single- Family market. On an impressive note, BLDR has a solid earnings surprise ...

Below are three underperforming S&P 500 stocks that were down 30% or more in the second quarter. They were the worst-performing stocks on the index. But since they are offering extreme discounts, let's see if they are worth diving into now. Despite the IT stock beating analyst estimates for the period, its guidance for the second quarter and full-year underwhelmed the market. EPAM forecasts a 2.6% decline in Q2 sales and a better than 1% drop in revenue for all of 2024. It guided full-year revenue toward a ...

Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. Builders FirstSource (BLDR) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Over the past month, shares of this construction supply com ...

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Builders FirstSource. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. The Building Products - Retail industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 221, positioning it in the bottom 13% of all 250+ industries. The con ...