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Why Shares Of Builders FirstSource Are Rising Today

Published 01/08/2022, 14:25
Updated 01/08/2022, 15:10
© Reuters.  Why Shares Of Builders FirstSource Are Rising Today
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Shares of Builders FirstSource, Inc. (NYSE: BLDR) are rising today after the company reported better-than-expected second-quarter financial results.

The company reported quarterly revenue of $6.926 billion, which beat the consensus analyst estimate of $5.51 billion.

Earnings per share came in at $6.26, beating the consensus estimate of $3.08.

In addition, the company was able to generate $881 million in free cash flow during the quarter.

"Looking ahead, we are exceptionally well-positioned to capture organic and inorganic value-enhancing growth opportunities and expand our market-leading positions. For 2022, we remain focused on delivering strong double-digit base business growth and significant free cash flow,” said CEO Peter Jackson.

Price Action: Shares are up 7.85% as the price hovers at $73.35 during today’s pre-market session, according to Benzinga Pro.

Photo: Courtesy of Josh Olalde on Unsplash

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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