NYSE$GMS
Gms Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Delivered solid results with net sales, net income, and Adjusted EBITDA exceeding expectations due to strong commercial and multi-family activity.
GMS Inc. reported solid results for Q2 2024, with net sales of $1.4 billion. Strong commercial and multi-family activity offset a steeper than anticipated steel pricing decline and reduced single-family demand. Net income decreased to $81.0 million, or $1.97 per diluted share, while Adjusted EBITDA decreased to $167.6 million.
- Net sales decreased 0.7% to $1.4 billion compared to the prior year quarter.
- Commercial and multi-family construction drove volume increases in Ceilings, Steel Framing and Complementary Products.
- Gross profit decreased $5.9 million, or 1.3%, compared to the second quarter of fiscal 2023 due to deflationary dynamics in steel pricing.
- Net income decreased 21.5% to $81.0 million, or $1.97 per diluted share.
Headline financials
Revenue & EPS history
GMS · Revenue · Quarterly
$1.42B
Forward guidance
The company anticipates continued growth in the multi-family end market through the end of fiscal 2024, expects commercial demand to continue at its current pace, and is optimistic about improving single-family activity.
Tailwinds
- Backlog in multi-family construction to drive continued growth through the end of fiscal 2024.
- Commercial demand is expected to continue its current pace of activity over the next few quarters.
- Easing of mortgage rates may improve single-family activity.
- Limited supply of existing homes for sale may improve single-family activity.
- Favorable demographics seem to be setting up improved conditions for single-family activity, particularly as we look out to fiscal 2025.
Headwinds
- Multi-family growth is expected to occur at declining year-over-year rates.
- Potential headwinds from tightened credit conditions may impact commercial demand.
- Single-family demand is comparatively reduced versus the prior year.
- Market conditions are fluid.
- Steel price deflation
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports
-0.3%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+7.0%
Avg return
30 days after
45%
19 / 42 earnings
Positive
+24.8%
Q1 2020
Best reaction
-17.5%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | — | — | — | |
| Q2 2026 | — | — | — | |
| Q1 2026 | +0.0% | +0.1% | — | |
| Q4 2025 | +11.5% | +38.0% | +51.0% | |
| Q3 2025 | -7.5% | -10.7% | -8.4% | |
| Q2 2025 | -5.1% | -7.2% | -17.9% | |
| Q1 2025 | -4.8% | -7.9% | -0.4% | |
| Q4 2024 | -9.0% | -11.0% | +1.0% | |
| Q3 2024 | +0.7% | -1.1% | +8.0% | |
| Q2 2024 | -0.7% | +8.3% | +15.7% | |
| Q1 2024 | -4.7% | — | — | |
| Q4 2023 | +0.4% | — | — | |
| Q3 2023 | -0.5% | — | — | |
| Q2 2023 | +8.8% | — | — | |
| Q1 2023 | -4.5% | — | — | |
| Q4 2022 | +13.9% | — | — | |
| Q3 2022 | -13.6% | — | — | |
| Q2 2022 | +0.4% | — | — | |
| Q1 2022 | +3.6% | — | — | |
| Q4 2021 | +12.2% | — | — | |
| Q3 2021 | +7.7% | — | — | |
| Q2 2021 | -9.4% | — | — | |
| Q1 2021 | -11.5% | — | — | |
| Q4 2020 | +3.5% | — | — | |
| Q3 2020 | -4.4% | — | — | |
| Q2 2020 | -3.1% | — | — | |
| Q1 2020 | +24.8% | — | — | |
| Q4 2019 | +17.5% | — | — | |
| Q3 2019 | -17.5% | — | — | |
| Q2 2019 | -5.1% | — | — | |
| Q1 2019 | -6.4% | — | — | |
| Q4 2018 | -12.3% | — | — | |
| Q3 2018 | +5.1% | — | — | |
| Q2 2018 | -1.1% | — | — | |
| Q1 2018 | +8.7% | — | — | |
| Q4 2015 | +1.4% | — | — | |
| Q4 2017 | -10.8% | — | — | |
| Q3 2016 | +3.1% | — | — | |
| Q3 2017 | +3.1% | — | — | |
| Q2 2016 | -1.8% | — | — | |
| Q2 2017 | -1.8% | — | — | |
| Q1 2017 | -3.8% | — | — | |
| Q1 2016 | -3.8% | — | — | |
| Q4 2016 | +3.7% | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
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