Builders FirstSource Gains As Q4 Earnings Beat Estimates

  • Builders FirstSource Inc BLDR reported a fourth-quarter FY22 sales decline of 6% year-on-year to $4.36 billion, beating the consensus of $4.26 billion.
  • Gross profit remained flat at $1.48 billion, and the profit margin expanded 200 basis points to 34.1%.
  • Selling, general, and administrative expenses rose 11% to $958.7 million.
  • Adjusted EBITDA decreased 12.2% Y/Y to $0.7 billion, with the margin declining by 110 basis points to 16.0%.
  • Adjusted EPS of $3.21 beat the analyst consensus of $2.36.
  • In Q4, the company repurchased 10.2 million of its shares.
  • The company held $80.4 million in cash and equivalents as of Dec. 31, 2022. Cash provided by operating activities for the quarter totaled $971.4 million, with a free cash flow of $839.7 million.
  • Outlook: Builders FirstSource sees Q1 sales of $3.4 billion - $3.7 billion against the consensus of $3.62 billion.
  • It sees Q1 adjusted EBITDA of $400 million - $440 million with a margin of 11.7% - 11.9%.
  • It expects FY23 capital expenditure of $300 million - $350 million.
  • Price Action: BLDR shares are trading higher by 4.30% at $85.00 on the last check Tuesday.
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