Builders FirstSource (BLDR) PT Lowered to $178 at RBC Capital

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Go back to Builders FirstSource (BLDR) PT Lowered to $178 at RBC Capital

Builders FirstSource Reports Second Quarter 2024 Results

August 6, 2024 7:00 AM EDT

IRVING, Texas--(BUSINESS WIRE)-- Builders FirstSource, Inc. (NYSE: BLDR) today reported its results for the second quarter ended June 30, 2024.

Second Quarter 2024 Highlights
All Year-Over-Year Comparisons Unless Otherwise Noted:

Net sales were $4.5 billion, a 1.6% decrease, with core organic sales down 3.8% as Multi-Family continues to trend downward, partially offset by growth from acquisitions and Single Family. Gross profit margin percentage decreased 240 basis points to 32.8%, primarily driven by ongoing normalization, particularly in Multi-Family. Net income decreased 15.0% to $344.1... More

Builders FirstSource Authorizes $1 Billion Share Repurchase Plan

August 6, 2024 7:00 AM EDT

IRVING, Texas--(BUSINESS WIRE)-- Builders FirstSource, Inc. (NYSE: BLDR) announced that on August 5, 2024, its Board of Directors authorized the repurchase of up to $1.0 billion of the Companys outstanding shares of common stock.

After completing nearly $1 billion of share repurchases in the second quarter, the Boards announcement of a new share repurchase authorization reflects our strong conviction in the Companys strategy, operating model, and fortress balance sheet underpinned by robust free cash flow generation, especially considering our confidence in the strength of the housing industry due to being underbuilt and... More