BLDR
Builders FirstSource, Inc.103.18
-1.48-1.41%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Key Stats
Market Cap
11.41BP/E (TTM)
19.58Basic EPS (TTM)
5.27Dividend Yield
0%Recent Filings
8-K
Q3 sales down 6.9%
Builders FirstSource reported Q3 net sales of $3.9B, down 6.9% year-over-year amid weak housing starts, with gross margin slipping 240bps to 30.4% but strong cash flow at $548M from operations. Adjusted EBITDA fell 30.8% to $434M; yet liquidity holds at $2.1B. Full-year outlook targets $15.1B-$15.4B sales, $1.625B-$1.675B Adjusted EBITDA. Net debt rose to 2.3x LTM Adjusted EBITDA.
10-Q
Q3 FY2025 results
Builders FirstSource posted Q3 net sales of $3.9B, down 6.9% y/y from $4.2B, with core organic sales off 10.6% (derived) on weaker single-family and multi-family starts, offset by 4.8% from acquisitions like $910.8M Alpine Lumber et al., recognizing $318M goodwill and $313M finite-lived intangibles (10.7-year life). Gross margin slipped to 30.4% from 32.8%, operating income plunged to $229M from $428M, and diluted EPS fell to $1.10 from $2.44 amid higher interest from debt ramp. Cash swelled to $296M, operating cash flow hit $1.0B YTD, revolver shows $1.8B availability sans covenant breach; issued $750M 6.75% 2035 notes. Share buybacks totaled $404M YTD. Construction defect claims pose unestimated litigation risk.
8-K
Q2 sales down 5%, EBITDA drops
Builders FirstSource reported Q2 net sales down 5.0% to $4.2B, with net income dropping to $185M and Adjusted EBITDA falling 24.4% to $506.1M amid housing starts weakness and margin compression. Acquisitions offset some organic declines; free cash flow hit $255M despite headwinds. Share repurchases continue. Full-year Adjusted EBITDA guides $1.5B-$1.7B. Net debt rose to 2.3x.
10-Q
Q2 FY2025 results
Builders FirstSource posted Q2 net sales of $4.2B, down 5.0% y/y yet cushioned 5.0% by acquisitions like $892M Alpine Lumber, Cluss, and Truckee Tahoe deals recognizing $310M goodwill and $306M intangibles (10.9-year life). Gross margin slipped to 30.7% from 32.8%, operating income fell to $311M from $489M, and diluted EPS dropped to $1.66 from $2.87 amid lower housing starts—EPS reconciles to 111.2M shares. Cash fell to $87M, but $1.5B revolver availability endures post-$2.2B expansion to 2030; free cash flow not disclosed in the 10-Q. Debt climbed to $4.7B including new $750M 6.75% 2035 notes. Acquisitions fuel scale. Construction defect claims linger unquantified.
8-K
Board declassified, officers protected
Builders FirstSource stockholders approved Charter amendments on May 27, 2025, declassifying the Board and limiting certain officers' liability under Delaware law; Bylaws were concurrently amended to match. These changes, backed by 96M For votes on declassification and 85M on liability limits, shift to annual director elections. Governance modernized.
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