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Investing.com - Builders FirstSource Inc (NYSE:BLDR) reported fourth-quarter earnings on Thursday that beat analyst expectations, while revenue fell short of estimates.
Builders FirstSource posted adjusted earnings per share of $2.31 for the fourth quarter, surpassing the analyst consensus of $2.17. However, revenue came in at $3.82 billion, below the $3.88 billion analysts had forecast.
The company’s net sales decreased 8.0% YoY, primarily due to lower core organic sales and commodity deflation, partially offset by growth from acquisitions and an additional selling day.
For the fourth quarter, gross margin decreased 300 basis points to 32.3%, mainly driven by ongoing Single-Family and Multi-Family margin normalization. Adjusted EBITDA fell 28.0% to $493.6 million, with Adjusted EBITDA margin declining 360 basis points to 12.9%.
Looking ahead, Builders FirstSource provided guidance for fiscal year 2025, projecting revenue between $16.5 billion and $17.5 billion. This range encompasses the current analyst consensus of $17.26 billion.
For the full year 2024, the company reported net sales of $16.4 billion, a 4.1% decrease from the previous year.
Builders FirstSource also repurchased 8.9 million shares of common stock at an average price of $170.74 for $1.5 billion, reducing total shares outstanding by 6.8% in 2024.
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