NYSE$BLDR
Builders FirstSource Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Builders FirstSource reported first quarter 2020 results, demonstrating disciplined execution that generated solid results in line with expectations. The company prioritized safety and well-being of team members, customers and communities and was operationally and financially prepared to navigate through the COVID-19 crisis.
Builders FirstSource reported a 9.5% increase in net sales to $1.8 billion for the first quarter of 2020. Core organic growth was 3.9%, and adjusted EBITDA was $97 million, representing 5.4% of net sales. Net income was $8.8 million, or $0.07 per diluted share, while adjusted net income was $40.2 million, or $0.34 per diluted share.
- Net sales increased by 9.5%, with strong activity levels through most of the quarter.
- Core organic growth of 3.9%, excluding acquisitions, commodity impacts and differences in selling days.
- Adjusted EBITDA of $97 million, reflecting 5.4% of net sales, and expected normalization of gross margin percentage.
- Strong quarter end balance sheet with liquidity of $671.7 million, including $163.9 million of cash on hand plus availability under our revolving credit facility.
Headline financials
Revenue & EPS history
Builders FirstSource · Revenue · Quarterly
$1.79B
Revenue by segment
Builders FirstSource · $1.3B total across 3 segments · Q1 2020
- Lumber & Sheet Goods$553M+6.7%42.6%
- Windows, Doors & Millwork$391M+10.7%30.1%
- Manufactured Products$355M+11.7%27.3%
Forward guidance
The company withdrew its previous full year 2020 outlook due to the evolving macro-economic uncertainty in the current homebuilding environment and is planning for weak demand levels to persist at least through the second quarter of 2020.
Tailwinds
- Prudently levered balance sheet
- Strong liquidity position
- Continued base level of demand for essential products and services
- Superior product offering
- Commitment to safety
Headwinds
- Evolving macro-economic uncertainty in the current homebuilding environment
- Not able to estimate the full duration and magnitude of the COVID-19 impact on our full year financial results with reasonable accuracy
- Limited visibility on the timing and pace of anticipated local market recoveries across our diverse geographic footprint
- Planning for weak demand levels to persist at least through the second quarter of 2020
- Economic impact of COVID-19 slowed momentum during the final week of March and continued into April
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+1.2%
Avg return
Earnings day
+2.6%
Avg return
5 days after
+2.6%
Avg return
30 days after
47%
30 / 64 earnings
Positive
+23.3%
Q3 2015
Best reaction
-18.6%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | -10.6% | -8.6% | |
| Q4 2025 | +0.8% | -3.6% | -26.4% | |
| Q3 2025 | -3.1% | -4.8% | -2.7% | |
| Q1 2025 | -6.4% | -10.4% | -10.0% | |
| Q4 2024 | -0.3% | -2.8% | -12.7% | |
| Q3 2024 | +2.5% | +3.4% | +2.0% | |
| Q2 2024 | +2.1% | +3.9% | +12.0% | |
| Q1 2024 | -18.6% | -16.9% | -27.5% | |
| Q4 2023 | +2.7% | +5.2% | +14.6% | |
| Q3 2023 | +11.7% | +15.7% | +28.3% | |
| Q2 2023 | -1.4% | +3.7% | +1.3% | |
| Q1 2023 | +12.2% | +19.4% | +25.0% | |
| Q4 2022 | +5.2% | +9.4% | +5.8% | |
| Q3 2022 | -1.5% | +13.8% | +14.7% | |
| Q2 2022 | +3.3% | +0.5% | -13.8% | |
| Q1 2022 | -2.7% | +3.3% | +0.6% | |
| Q4 2021 | +3.8% | -0.4% | -13.3% | |
| Q3 2021 | +11.6% | +12.3% | +18.0% | |
| Q2 2021 | +2.9% | +6.2% | +18.6% | |
| Q1 2021 | +6.7% | +2.7% | -13.0% | |
| Q4 2020 | +10.4% | +6.5% | +14.8% | |
| Q3 2020 | -0.7% | +7.1% | +24.3% | |
| Q2 2020 | -0.0% | +10.6% | +33.6% | |
| Q1 2020 | -11.8% | -13.5% | +6.5% | |
| Q4 2019 | -4.5% | -11.6% | -59.2% | |
| Q3 2019 | +8.7% | +6.4% | +13.6% | |
| Q2 2019 | +9.8% | +10.5% | +13.2% | |
| Q1 2019 | +17.0% | +16.4% | -1.9% | |
| Q4 2018 | +2.2% | +0.6% | -2.8% | |
| Q3 2018 | +17.8% | +12.0% | +9.3% | |
| Q2 2018 | -1.4% | -4.7% | -9.4% | |
| Q1 2018 | -3.1% | -5.8% | +2.8% | |
| Q4 2017 | +7.8% | +7.2% | +1.0% | |
| Q3 2017 | +5.3% | +3.0% | +17.5% | |
| Q2 2017 | +7.0% | +6.4% | +6.1% | |
| Q1 2017 | -4.2% | -11.1% | -11.1% | |
| Q4 2016 | +13.4% | +18.2% | +15.8% | |
| Q3 2016 | -3.1% | +0.3% | +12.1% | |
| Q2 2016 | -4.2% | -5.4% | +2.4% | |
| Q1 2016 | +2.8% | — | — | |
| Q4 2015 | +13.4% | — | — | |
| Q3 2015 | +23.3% | — | — | |
| Q2 2015 | -3.3% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | -4.0% | — | — | |
| Q3 2014 | +4.6% | — | — | |
| Q2 2014 | -10.8% | — | — | |
| Q1 2014 | -4.4% | — | — | |
| Q4 2013 | +7.2% | — | — | |
| Q3 2013 | -0.5% | — | — | |
| Q2 2013 | -2.2% | — | — | |
| Q1 2013 | +3.9% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -1.8% | — | — | |
| Q2 2012 | -15.4% | — | — | |
| Q1 2012 | -6.9% | — | — | |
| Q4 2011 | +4.6% | — | — | |
| Q3 2011 | -10.4% | — | — | |
| Q2 2011 | -11.0% | — | — | |
| Q1 2011 | -0.7% | — | — | |
| Q4 2010 | +0.8% | — | — | |
| Q3 2010 | -1.9% | — | — | |
| Q2 2010 | -7.1% | — | — | |
| Q1 2010 | -0.5% | — | — |
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