Welcome to our dedicated page for Builders FirstSource news (Ticker: BLDR), a resource for investors and traders seeking the latest updates and insights on Builders FirstSource stock.
Builders FirstSource, Inc. (symbol: BLDR) is the leading supplier and manufacturer of structural and related building products for new construction. In 2015, the company solidified its market leadership by acquiring ProBuild Holdings, LLC and its subsidiaries. Today, Builders FirstSource operates approximately 450 lumber and building product distribution, manufacturing, and assembly centers across 40 U.S. states, making it one of the largest diversified suppliers of lumber and building materials to professional builders, contractors, and homeowners.
Builders FirstSource offers a wide range of building materials, including dimensional and sheet lumber, drywall products, millwork, trusses, roofing and siding products, insulation materials, and hardware specialties. The company’s manufacturing capabilities extend to trusses (both roof and floor), wall panels, custom millwork, aluminum and vinyl windows, and pre-hung door fabrication. This extensive product portfolio ensures that Builders FirstSource can meet the diverse needs of its customers, ranging from large production builders to small custom homebuilders.
In addition to its product offerings, Builders FirstSource provides various construction-related services. These include professional installation, turnkey framing, and shell construction, which help their clients streamline their building processes. The company's ability to tailor its products for individual homes and ensure quality installation sets it apart in the industry.
Financially, Builders FirstSource is in a strong position to sustain a long-term, aggressive growth strategy. The acquisition of ProBuild has significantly expanded its market reach and operational capacity. The company's collective strength lies in its broad distribution network, advanced manufacturing capabilities, and strong customer relationships.
Recent achievements for Builders FirstSource include expanding its product lines, enhancing its digital platforms for better customer service, and forming strategic partnerships to further its market reach. These initiatives highlight the company's commitment to innovation and customer satisfaction.
For the latest updates and relevant information about Builders FirstSource, including stock performance, events, and developments, please refer to the latest news section.
Builders FirstSource has acquired National Lumber, the largest independent building materials supplier in New England, significantly enhancing its Northeast network. National Lumber operates 19 facilities with over 700 employees and expects sales of approximately $440 million for 2021. This acquisition allows Builders FirstSource to expand its product offerings and services in New England, particularly in prefabricated components and millwork, while also pursuing further growth opportunities.
Builders FirstSource (BLDR) announced a new share repurchase program, authorizing the buyback of an additional $1 billion in common shares, augmenting the total repurchase capacity to approximately $1.147 billion. CEO Dave Flitman expressed confidence in the company's strategy and financial strength, emphasizing a commitment to shareholder value. With about $147 million remaining from a prior authorization, the company showcases robust cash generation, intending to execute repurchases based on market conditions and internal assessments.
Builders FirstSource reported record financial results for Q3 2021, with net sales of $5.5 billion, a 62.7% increase year-over-year driven by the BMC merger and strong organic growth. Gross profit surged 102.9% to $1.7 billion, while adjusted EBITDA increased 244.4% to $975.9 million, achieving a margin of 17.7%. Net income reached $613.1 million or $2.98 per diluted share. The company also generated $1.1 billion in free cash flow and repurchased over 5% of its shares. Builders FirstSource remains optimistic for the future, with an upwardly revised outlook for 2021.
Builders FirstSource (NYSE: BLDR) has announced an upcoming Investor Day on December 7, 2021, at 10:00 a.m. ET, featuring presentations from CEO Dave Flitman and CFO Peter Jackson. The event will provide insights into the company's core business drivers, strategic vision, and key initiatives in innovation and sustainability. Scheduled to be held in Dallas, Texas, the event will also be available via live webcast. Registration details for in-person attendance will be released soon. Archived copies of the webcast will be accessible post-event.
Builders FirstSource (NYSE: BLDR) will host a conference call on November 4, 2021, at 8:00 a.m. CT to discuss its Q3 2021 financial results. The press release with detailed financial metrics will be available at 6:00 a.m. CT on the same day. Interested participants can join the call by dialing 866-518-6930 (U.S.) or 1-203-518-9797 (international), using the Conference ID: BLDRQ32021. A replay will be accessible until November 11, 2021. Builders FirstSource operates in 39 states, providing a wide range of building products to the professional market.
Builders FirstSource (BLDR) announced the acquisition of Apollo software assets from Katerra for approximately $4.5 million. The Apollo platform enhances design collaboration, budgeting, and scheduling in construction, aiming to improve efficiency in homebuilding processes. This acquisition complements Builders FirstSource's recent purchase of WTS Paradigm and aligns with its digital strategy to innovate in the construction industry. The company's President and CEO, Dave Flitman, emphasized their commitment to leading technological advancements in home construction.
Builders FirstSource has announced the acquisition of California TrusFrame for $179.5 million, enhancing its value-added components business in California. Established in 1982, CTF is the largest independent producer of prefabricated building products in the state, with trailing twelve-month sales of approximately $143 million as of July 31, 2021. The acquisition will help Builders FirstSource expand its offerings and production capacity, serving the largest housing market in the U.S.
Builders FirstSource (Nasdaq: BLDR) has completed its acquisition of WTS Paradigm, LLC, enhancing its technological capabilities. Paradigm specializes in software solutions for the building products industry and will operate independently. This acquisition is expected to generate $1 billion in incremental sales over the next five years. The innovative Paradigm Omni™ technology will streamline processes for homebuilders, boosting efficiency and reducing costs. Builders FirstSource continues to focus on expanding its digital footprint and meeting market demands in the homebuilding sector.
Builders FirstSource (NYSE: BLDR) has authorized a share buyback program worth $1 billion to enhance shareholder value. CEO Dave Flitman emphasized the company's commitment to long-term growth, following the merger with BMC. As of August 11, 2021, Builders FirstSource holds approximately $417 million in cash, projecting $1.4 to $1.6 billion in free cash flow for 2021. The timing and amount of share repurchases will be determined based on business needs and market conditions, providing flexibility in capital allocation.
Builders FirstSource reported record net sales of $5.6 billion in Q2 2021, a 186.6% increase year-over-year, primarily due to the BMC merger and strong organic growth. Core organic sales rose 35%, driven by demand in single-family housing. Net income reached $497.2 million, equating to $2.39 per diluted share. Adjusted EBITDA increased 231.6% to $835.8 million, with a margin of 15%. The company anticipates a revenue growth of 41%-48% over 2020 and is raising its full-year guidance for adjusted EBITDA by 28%.
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