Builders FirstSource (BLDR) Tops Q1 EPS by 1c

Builders FirstSource (NASDAQ: BLDR) reported Q1 EPS of ($0.11), $0.01 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.36 billion.

Commenting on the first quarter results, Builders FirstSource CEO Floyd Sherman remarked, “I am pleased to report that we grew net sales by 9 percent and Adjusted EBITDA by almost 200 percent, or $41 million, in the quarter on a Pro Forma Adjusted basis versus prior year. We were able to achieve these positive results despite an estimated $86 million negative impact of commodity deflation on our sales. In addition, sales in our value-added categories of prefabricated components, windows & doors, and millwork grew 14 percent versus Pro Forma 2015. Absent commodity deflation, our new residential construction sales volume grew 16 percent in the first quarter and repair and remodel volume grew by 15 percent. From a single-family housing starts perspective, the Census Bureau reported actual first quarter 2016 national starts increased 22.2 percent, however, completions only increased 16.7 percent compared to the first quarter of 2015.”

For earnings history and earnings-related data on Builders FirstSource (BLDR) click here.

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