NYSE$BLDR
Builders FirstSource Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Builders FirstSource's financial performance decreased in Q2 2024 due to market headwinds and normalization, but maintained a mid-teens EBITDA margin.
Builders FirstSource reported a slight decrease in net sales and a decline in gross profit margin, net income, and adjusted EBITDA for Q2 2024. The company's performance was impacted by a decrease in core organic sales, particularly in the Multi-Family segment, but was partially offset by growth from acquisitions and Single Family. Despite these challenges, the company maintained a mid-teens EBITDA margin and generated strong free cash flow.
- Net sales decreased by 1.6% to $4.5 billion, with core organic sales down 3.8%.
- Gross profit margin decreased by 240 basis points to 32.8%.
- Net income decreased by 15.0% to $344.1 million, or $2.87 per diluted share.
- Adjusted EBITDA decreased by 12.9% to $669.7 million, with adjusted EBITDA margin declining by 200 basis points to 15.0%.
Headline financials
Revenue & EPS history
Builders FirstSource · Revenue · Quarterly
$4.46B
Revenue by segment
Builders FirstSource · $4.53B total across 4 segments · Q3 2023
- Manufactured Products$1.2B-19.0%26.4%
- Lumber & Sheet Goods$1.15B-36.7%25.4%
- Windows, Doors & Millwork$1.1B-14.8%24.3%
- Specialty Building Products$1.08B-7.6%23.9%
Forward guidance
For 2024, the Company expects net sales to be in a range of $16.4 billion to $17.2 billion, gross profit margin to be in a range of 31.5% to 32.5%, adjusted EBITDA to be in a range of $2.2 billion to $2.4 billion, adjusted EBITDA margin to be in a range of 13.4% to 14.0%, and free cash flow in the range of $1.0 billion to $1.2 billion.
Tailwinds
- Net Sales to be in a range of $16.4 billion to $17.2 billion.
- Gross Profit margin to be in a range of 31.5% to 32.5%.
- Adjusted EBITDA to be in a range of $2.2 billion to $2.4 billion.
- Adjusted EBITDA margin to be in a range of 13.4% to 14.0%.
- Free cash flow in the range of $1.0 billion to $1.2 billion.
Headwinds
- Single-Family starts are projected to be up low-single digits.
- Multi-Family starts down 25% to 30%.
- R&R flat to the prior year.
- Acquisitions completed within the last twelve months are projected to add net sales growth of 1.5% to 2.0%.
- Average commodity prices in the range of $380 to $400 per thousand board feet (mbf).
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 Q2 2024
+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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