GMS Inc. (GMS) Reports In-Line Q1 EPS
GMS Inc. (NYSE: GMS) reported Q1 EPS of $0.47, in-line with the analyst estimate of $0.47. Revenue for the quarter came in at $549.8 million versus the consensus estimate of $558.13 million.
Mike Callahan, President and CEO of GMS, stated, “We are excited to produce our 20th straight quarter of double-digit growth in net sales, with strong results across all of our product categories to start the current fiscal year. Residential demand continued to outpace commercial activity in many markets, which particularly benefitted our wallboard and other product categories. The modest improvement in wallboard price compared to Q4 of last fiscal year was in line with expectations. Beyond our base business improvement, we completed four acquisitions during fiscal 2017 as of September 1, 2016, representing $134.9 million of combined trailing twelve month net sales. In June 2016, we used the proceeds from our successful initial public offering to further reduce debt and strengthen our balance sheet. In all, we are pleased with our progress and the dedication of the entire GMS family which is driving our continued success.”
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