GMS Inc. (GMS) Tops Q1 EPS by 9c, Revenues Beat

GMS Inc. (NYSE: GMS) reported Q1 EPS of $0.82, $0.09 better than the analyst estimate of $0.73. Revenue for the quarter came in at $778.1 million versus the consensus estimate of $768.84 million.

Mike Callahan, President and CEO of GMS, stated, “We are off to a solid start to the year, generating record sales and strong earnings. We delivered organic revenue growth of 6.1% driven by broad-based growth across each of our product groups. We also generated strong earnings, reflecting the contribution of Titan, our commitment to operational improvement initiatives and continued pricing discipline. The previously announced cost reduction plan coupled with the successful integration of Titan are expected to drive additional benefits as we progress through fiscal 2019 and beyond.”

Mr. Callahan continued, “Looking ahead to the balance of the year, we remain confident in the health of our end-markets and overall market conditions. We were able to capture more than three percent of price growth within the U.S. wallboard market and believe some of the pricing challenges facing our industry have begun to stabilize. As one of the largest wallboard distributors in North America with significant scale advantages and a well-balanced portfolio built for growth, we intend to continue to drive profitable growth while managing our business for the long-term. We remain excited about the overall strength of our business and confident in our ability to deliver another year of record sales and strong earnings in fiscal 2019.”

For earnings history and earnings-related data on GMS Inc. (GMS) click here.

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