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 appointed Dave Flitman as the new CEO, succeeding Chad Crow after his retirement following the completion of the BMC merger. This leadership transition comes 90 days post-merger, emphasizing the company's growth strategy in the fragmented building products industry. Flitman, with over 30 years of experience, aims to enhance customer service and expand market reach. The company maintains its previously announced business outlook for the first quarter and full fiscal year 2021, ensuring stability amidst changes.
Builders FirstSource reported strong results for Q4 2020, with net sales of $2.5 billion, a 43.5% increase year-over-year. Key drivers included organic sales growth of 15% and commodity inflation contributing 26.5%. Gross profit rose to $669.2 million, a 40.4% increase, while adjusted EBITDA more than doubled to $257.1 million. The completion of the merger with BMC on January 1, 2021, positions Builders FirstSource as the leading supplier in the building materials industry. The company announced a 2021 outlook of $13.9 billion to $14.6 billion in net sales, signaling growth ahead.
Builders FirstSource (BLDR) announced an increase in its revolving credit facility from $900 million to $1.4 billion and extended the maturity date to January 2026. The facility will fund working capital, corporate purposes, and growth initiatives, with no outstanding borrowings currently. Additionally, Moody's upgraded Builders FirstSource's Corporate Family Rating from B1 to Ba2, reflecting strengthened cash generation and balance sheet post-merger with BMC Stock Holdings. This improvement positions the company for enhanced growth and stability.
Builders FirstSource (Nasdaq: BLDR) will host a conference call on February 26 at 8:00 a.m. Central Time to discuss its financial results. The call will feature CEO Chad Crow, President David Flitman, and CFO Peter Jackson. The press release detailing financial results will be available before the market opens that day. Interested participants can join the teleconference by calling 800-949-2175 (U.S. and Canada) or accessing the replay afterwards. Builders FirstSource operates in 40 states with around 550 locations, providing a range of building products.
Builders FirstSource, Inc. (NASDAQ: BLDR) has completed its merger with BMC Stock Holdings, creating the leading supplier of building materials and services in the U.S. The combined company boasts approximately $11.7 billion in annual sales and operates nearly 550 locations across 40 states. BMC shareholders received 1.3125 shares of Builders FirstSource for each share held. Chad Crow will retire as CEO, with Dave Flitman taking over from April 1, 2021. This merger positions Builders FirstSource for enhanced offerings and growth in the residential sector.
Builders FirstSource (Nasdaq: BLDR) and BMC Stock Holdings (Nasdaq: BMCH) announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on November 13, 2020. This allows for the impending combination of the two companies, expected to close in late 2020 or early 2021, pending stockholder approval. Special meetings for stockholder voting are set for December 22, 2020. Both CEOs expressed optimism about the merger, highlighting potential benefits and market expansion opportunities.
Builders FirstSource (BLDR) announced the acquisition of Kansas City Building Supply, enhancing its presence in the Kansas City area. This strategic move brings an annual revenue of approximately $30 million and strengthens BLDR's offerings in interior and exterior doors, windows, cabinetry, and hardware. Chad Crow, CEO, emphasized the importance of this acquisition amidst ongoing merger planning with BMC. The transaction aims to improve customer service and expand growth opportunities for employees and customers alike, positioning Builders FirstSource for increased success in the competitive market.
Builders FirstSource (BLDR) reported a strong third quarter for 2020, achieving a 15.9% increase in net sales to $2.3 billion and a 15% rise in adjusted EBITDA, reaching $184 million. Core organic sales grew by 6.7%, supported by commodity price inflation of 7.2%. The company announced a transformative merger with BMC Stock Holdings to enhance market presence and service offerings. Despite a decline in gross margin percentage to 24.9%, Builders FirstSource concluded the quarter with strong liquidity of $1.2 billion and a stable net debt to EBITDA ratio of 2.3x.
Builders FirstSource, Inc. (Nasdaq: BLDR) will host a conference call on October 30, 2020, at 9:00 a.m. Central Time to discuss its upcoming financial results. The call will be led by CEO Chad Crow and CFO Peter Jackson. A press release detailing the financial results will be available post-market on October 29, 2020. Investors can join the call via a dedicated phone line or listen to a replay after the event. Builders FirstSource is the largest U.S. supplier of building products, with approximately 400 locations across 40 states.
Builders FirstSource and BMC Stock Holdings have announced a transformative all-stock merger to create the leading supplier of building materials in the U.S., with combined annual sales exceeding $11 billion. The merger, approved by both boards, will exchange BMC shares at a fixed ratio and is expected to yield $130 million to $150 million in annual cost synergies by year three. The combined entity will enhance value-added services, expand its geographic reach across 42 states, and improve adjusted EPS in its first year post-closing. Leadership will transition to BMC's CEO, Dave Flitman.
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