GMS(US:GMS)2021-06-24 15:30Financial Performance - Q4 Fiscal 2021 - Net sales increased by 20.9% due to strong residential end markets and favorable pricing[3, 12] - Organic net sales increased by 17.1%[3, 12] - Net income was $33.7 million, or $0.77 per diluted share[3] - Adjusted net income was $46.9 million, or $1.07 per diluted share[3] - Adjusted EBITDA increased by 43.5% to $91.2 million[4, 17] - Adjusted EBITDA margin improved by 160 basis points to 9.8%[4, 17] - Gross profit increased 16.8%[12] Financial Performance - Full Year Fiscal 2021 - Net sales increased by 1.8% to $3.3 billion[8] - Organic net sales increased by 0.4%[8] - Net income was $105.6 million, or $2.44 per diluted share[8] - Adjusted net income was $153.3 million, or $3.54 per diluted share[8] - Adjusted EBITDA increased by 6.5% to $319.4 million[8] - Adjusted EBITDA margin improved by 50 basis points to 9.7%[8] Cash Flow and Liquidity - Free cash flow was approximately 80% of Adjusted EBITDA during the quarter[5] - The company had $167.0 million in cash and $453.8 million available under credit facilities[10, 19] - Net debt leverage was 2.5x, the lowest level since the company's IPO[10, 19] Strategic Initiatives - The company acquired D.L Building Materials in Canada[7] - Four greenfield locations were added in the U.S[7] - A definitive agreement was entered into to acquire Westside Building Material[7]