GMS(US:GMS)2025-03-06 14:00Financial Performance - Net sales for Q3 FY25 reached $12607 million, a 02% increase compared to $12583 million in Q3 FY24[4] - Organic sales decreased by 67%[4] - Gross margin was 312%, down 180 bps year-over-year[6] - The company reported a net loss of $214 million, which includes a $425 million non-cash goodwill impairment[6] - Adjusted EBITDA was $930 million, compared to $1280 million in the same quarter last year[6] - The Adjusted EBITDA margin was 74%[16] Sales Breakdown - Wallboard net sales were $5017 million, a decrease of 36%[4] - Ceilings net sales were $1807 million, an increase of 160%[4] - Steel Framing net sales were $1797 million, a decrease of 116%[4] - Complementary Products net sales were $3986 million, an increase of 53%[4] Cash Flow and Capital Structure - Cash generated by operating activities was $941 million[25] - Free cash flow was $831 million[25] - The company repurchased 445K shares for $393 million during Q325[25] Q4 FY25 Expectations - Net sales are expected to be down high single digits year-over-year in total, and down low double digits organically[28] - Gross margin is expected to be approximately 312%[28] - GAAP net income is projected to be between $20 million and $22 million[28] - Adjusted EBITDA is expected to be between $100 million and $110 million[28]