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- GMS Inc (NYSE:GMS) reported second-quarter FY23 sales growth of 24.4% year-on-year to $1.43 billion, beating the consensus of $1.36 billion.
- Gross profit jumped 24.9% Y/Y to $464.5 million, and the margin expanded 20 basis points to 32.5%.
- Selling, general and administrative expenses rose 21% to $278.9 million.
- Operating margin was 10.7%, and the operating income for the quarter rose 37% to $153.3 million.
- Adjusted EBITDA increased 30.7% Y/Y to $195.5 million.
- Adjusted EPS of $2.79 beat the analyst consensus of $2.34.
- The company held $124.2 million in cash and equivalents as of October 31, 2022. Cash provided by operating activities totaled $107.3 million, and the free cash flow was $96.5 million.
- "A significant backlog of homes under construction, continued strength in multi-family, and improving levels of commercial activity helped drive exceptional results for our fiscal second quarter," said CEO John C. Turner, Jr.
- Price Action: GMS shares are trading higher by 5.41% at $52.05 in premarket on the last check Thursday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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