- Builders FirstSource Inc (NYSE: BLDR) reported second-quarter FY22 sales growth of 24.2% year-on-year, to $6.93 billion, beating the consensus of $5.51 billion. Core organic sales rose 12.2% Y/Y.
- The gross profit grew 52.4% to $2.4 billion, and the profit margin expanded 640 basis points to 34.8%.
- Selling, general, and administrative expenses rose 15.9% to $1 billion.
- The operating margin was 19.7%, and operating income for the quarter rose 100.7% to $1.4 billion.
- The company held $166.2 million in cash and equivalents as of June 30, 2022. Cash provided by operating activities for six months totaled $1.1 billion.
- Adjusted EBITDA increased 80.3% Y/Y to $1.5 billion with an adjusted EBITDA margin of 21.8%.
- Adjusted EPS of $6.26 beat the analyst consensus of $3.08.
- "During the second quarter, we remained focused on executing our strategy, accelerating value-added product sales and expanding customer solutions, resulting in another quarter of record revenue and EBITDA performance despite the dynamic environment and challenging year-over-year comparisons," commented CEO Dave Flitman.
- For 2022, the company said it remains focused on delivering strong double-digit base business growth and significant free cash flow.
- Price Action: BLDR shares are trading higher by 8.09% at $73.50 on the last check Monday.
Read at Benzinga