Overview of FMR LLC's Recent Transaction - On September 30, 2024, FMR LLC acquired 854,987 shares of GMS Inc, increasing its total holdings to 4,232,170 shares, reflecting a strategic enhancement of its investment portfolio [1] - The shares were purchased at a price of $90.57 each, indicating a significant investment move by FMR LLC [1] FMR LLC's Investment Philosophy and Holdings - FMR LLC, commonly known as Fidelity, has been a leader in investment services since its establishment in 1946, focusing on research-driven strategies for long-term growth [2] - The firm's top holdings include major companies like Apple Inc and Amazon.com Inc, primarily in the technology and healthcare sectors, showcasing its focus on high-growth areas [2] GMS Inc's Market Position and Performance - GMS Inc operates as a key distributor of specialty building products, with a market capitalization of $3.55 billion and a P/E ratio of 14.93, indicating healthy profitability [5] - The company has shown robust growth since its IPO in 2016, particularly in wallboard products, with a year-to-date price increase of 12.76% and a total rise of 302.04% since its IPO [6] Strategic Rationale Behind FMR LLC's Investment - FMR LLC's increased stake in GMS Inc, now approximately 10.77%, reflects confidence in GMS's market position and future prospects, despite a modest overall impact of 0.02% on FMR LLC's portfolio [4] - The decision is likely influenced by GMS's strong Profitability Rank and a GF Score of 81, indicating good potential for outperformance in the building products sector [7] Comparative Analysis with Other Investors - FMR LLC's strategic positioning in GMS Inc aligns it with other major investors like Gotham Asset Management, highlighting a commitment to investing in companies with strong market positions and growth potential [8]

Core Insights - GMS Inc. reported disappointing first-quarter fiscal 2025 results, with earnings and net sales missing consensus estimates, although net sales showed a year-over-year increase [1][4] Financial Performance - Adjusted earnings per share (EPS) were $1.93, missing the Zacks Consensus Estimate of $2.11 by 8.5%, and down from $2.40 in the same quarter last year [4] - Net sales reached $1.45 billion, falling short of the consensus mark of $1.49 billion by 2.7%, but increased by 2.8% year over year [4] - Organic net sales declined by 2.2% from the prior year, with volume growth offset by steel price deflation and weaker demand in commercial and multi-family markets [5] Segment Performance - Wallboard sales increased by 2.9% year over year to $587.9 million, with organic growth of 1.1% [6] - Ceilings sales rose by 18.2% year over year to $207.2 million, with organic sales up 5.7% [6] - Steel Framing sales decreased by 11.4% year over year to $209.9 million, with organic sales down 15.3% [6] - Complementary Product sales grew by 4.1% year over year to $443.5 million, but organic sales declined by 2.2% [7] Operating Highlights - Gross profit increased by 0.2% year over year to $451.6 million, with a gross margin contraction of 80 basis points to 32% [8] - Adjusted EBITDA was $145.9 million, down 15.8% from the previous year, with an adjusted EBITDA margin of 10.1%, contracting 220 basis points [9] Financial Position - As of July 31, 2024, cash and cash equivalents were $53.2 million, down from $166.1 million at the end of fiscal 2024 [9] - Available liquidity under revolving credit facilities was $565.3 million, with long-term debt amounting to $1.33 billion, up from $1.23 billion at the end of fiscal 2024 [9] - Cash used in operating activities was $22.9 million, compared to cash provided of $6.6 million in the same period last year [10] Share Repurchase Activity - During the fiscal first quarter, GMS repurchased 538,078 shares for $46.2 million, with $154.3 million of share repurchase authorization remaining as of July 31, 2024 [10]

GMS Inc. (NYSE:GMS) Q1 2025 Earnings Conference Call August 29, 2024 8:30 AM ET Company Participants Carey Phelps - VP, IR John Turner - President and CEO Scott Deakin - SVP and CFO Conference Call Participants Noah Merkousko - Stephens David Manthey - Baird Keith Hughes - Truist Securities Chris Claude - RBC Capital Markets Jeff Stevenson - Loop Capital Markets Steven Ramsey - Thompson Research Group Operator Greetings. Welcome to the GMS Inc. First Quarter 2025 Earnings Conference Call. [Operator Instruct ...

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share GMS New York Stock Exchange 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 July 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ___ ...

Exhibit 99.1 1 GMS REPORTS FIRST QUARTER FISCAL 2025 RESULTS Company Reports Volume Gains and Resilient Wallboard Pricing Amid Softening End Market Demands and Continued Steel Price Deflation Announces Acquisition of R.S. Elliott Specialty Supply, Providing a Platform for Further Complementary Products Expansion Across the Southeast Tucker, Georgia, August 29, 2024. GMS Inc. (NYSE: GMS), a leading North American specialty building products distributor, today reported financial results for the fiscal first q ...

GMS Inc. (GMS) is scheduled to report first-quarter fiscal 2025 results on Aug. 29, before market open. In the last reported quarter, the company's earnings missed the Zacks Consensus Estimate by 5.4% and declined 8.5% year over year. Net sales missed the consensus mark by 0.4% but increased 8.4% year over year. GMS' earnings topped the consensus mark in two of the last four quarters and missed on two occasions, delivering an average negative surprise of 0.8%. The Trend in Estimate Revision The Zacks Consen ...

GMS Inc. (GMS) reported tepid results for fourth-quarter fiscal 2024 (ended Apr 30, 2024). Both earnings and net sales missed the Zacks Consensus Estimate. Earnings declined on a year-over-year basis. Nonetheless, net sales grew from the prior-year period. Shares of the company lost 6.1% on Jun 20, post-earnings release. The company expects Wallboard and Steel margins-related headwinds to improve from the second quarter. An improving single-family end market will likely offset declining multi-family and com ...

For the Transition Period From to Commission File Number: 001-37784 ______________________________________________________________ GMS INC. For the Fiscal Year Ended April 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Table of Contents SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF ...

GMS Inc. (NYSE:GMS) Q4 2024 Earnings Conference Call June 20, 2024 8:30 AM ET Company Participants Carey Phelps - VP, IR John Turner - President and CEO Scott Deakin - SVP and CFO Conference Call Participants Noah Merkousko - Stephens Matthew Bouley - Barclays David Manthey - Baird Brian Biros - Thompson Research Group Mike Dahl - RBC Capital Markets Jeffrey Stevenson - Loop Capital Markets Operator Greetings, and welcome to the GMS, Inc., Fourth Quarter Fiscal Year 2024 Earnings Conference Call. [Operator ...

Exhibit 99.1 GMS Reports Fourth Quarter and Fiscal Year 2024 Results Volume Growth Across All Four Major Product Categories Drove Record Levels of Full Year Net Sales and Strong Cash Flow Tucker, Georgia, June 20, 2024. GMS Inc. (NYSE: GMS), a leading North American specialty building products distributor, today reported financial results for the fourth quarter and fiscal year ended April 30, 2024. Fourth Quarter Fiscal 2024 Highlights (Comparisons are to the fourth quarter of fiscal 2023 unless otherwise n ...