- Builders FirstSource Inc BLDR reported first-quarter FY22 sales growth of 36.1% year-on-year to $5.68 billion, beating the consensus of $4.60 billion.
- Double-digit core organic growth, commodity inflation, and acquisitions drove the top-line growth.
- The gross profit rose 71.3% to $1.8 billion and the gross profit margin expanded by 670 basis points to 32.3%.
- Selling, general and administrative expenses increased 17.9% to $968.6 million.
- The operating margin was 15.2%, and operating income for the quarter rose 248.4% to $863.8 million.
- The company held $281.8 million in cash and equivalents as of March 31, 2022. Cash provided by operating activities for the quarter amounted to $179.8 million with a free cash flow of $131.5 million.
- Adjusted EBITDA increased 119.8% Y/Y to $1.0 billion, with the adjusted EBITDA margin expanding 670 basis points to 17.6%.
- Adjusted EPS of $3.90 beat the analyst consensus of $1.98.
- The Board of Directors authorized a new share repurchase program of $2 billion on May 9, replacing the previous authorization.
- Outlook: Builders FirstSource sees growth across the geographies in single-family starts in the mid-single digits, multi-family starts in the low to mid-single digits for FY22.
- The company expects FY22 capital expenditures of $375 million - $400 million and a free cash flow of $2.0 billion - $2.4 billion.
- Price Action: BLDR shares are trading higher by 1.98% at $66.03 on the last check Tuesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.