Builders FirstSource(BLDR) - 2024 Q1 - Quarterly Report

Gross Margin. Gross margin decreased $0.1 billion to $1.3 billion. Our gross margin percentage decreased to 33.4% in the first quarter of 2024 from 35.3% in the first quarter of 2023, a 1.9% decrease. This decrease was attributable to a timing shift in product mix toward lower-margin, early stage homebuilding products, as well as margin normalization, particularly in our multi-family operations. 17 The following table shows our borrowing base and excess availability as of: Our liquidity at March 31, 2024, w ...