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GMS Inc. (symbol: GMS) is a leading North American distributor specializing in gypsum wallboard, acoustical ceiling products, and other specialty building materials. With operations spanning 34 states, the company leverages a robust network of 37 subsidiary partners and over 150 distribution centers. From Alaska to Florida, GMS ensures nationwide coverage, making it a crucial player in the construction industry.
Founded in 1971, GMS has built its reputation on exceptional customer service, a cornerstone of its business model. The company offers an extensive range of over 10,000 products sourced from the industry's leading manufacturers. These products include not just wallboard and acoustical ceiling products, but also FRP boards, metal framing, insulation, exterior insulation finish systems, ready-mix joint compounds, tools, and various other interior construction materials.
GMS serves multiple markets including commercial new construction, commercial repair and remodel, residential new construction, and residential repair and remodel (R&R). The company's geographical segments cover Central, Midwest, Northeast, Southern, Southeast, Western regions, and Canada. A significant portion of its revenue is generated from the sale of wallboard products, with the United States being its largest market.
Recent achievements and ongoing projects further underscore GMS's industry leadership. The company continues to forge strategic partnerships and expand its product lines, ensuring it meets the evolving needs of its customer base. Financially, GMS remains strong, consistently delivering solid performance driven by its diverse product offering and expansive distribution network.
GMS Inc. (NYSE:GMS), a prominent specialty distributor of building products, will announce its financial results for the quarter ending January 31, 2023, on March 2, 2023, before market opening. A conference call is scheduled for the same day at 8:30 a.m. ET, where the company will review its financial performance and recent developments. Investors can access the call and accompanying presentation on GMS's website. Founded in 1971, GMS operates around 300 distribution centers in the U.S. and Canada, providing a wide range of construction products while blending national strategies with local market focus.
GMS Inc. (NYSE: GMS) has announced its expansion into the New York City market through the acquisition of Tanner Bolt and Nut, Inc. and the opening of a greenfield location for ceiling products in Brooklyn. This acquisition, along with the establishment of new locations, aligns with GMS's strategic priorities of platform expansion and complementary product growth. In fiscal 2023, GMS opened six new greenfield locations and nine AMES store additions, enhancing its market presence. With $124 million in cash and an expanded credit agreement, GMS is well-positioned for growth.
GMS reported robust fiscal second quarter results, with net sales of $1.43 billion, up 24.4% year-over-year, driven by strong Wallboard volume and favorable pricing. Net income rose 38.7% to $103.2 million, or $2.41 per diluted share. Adjusted EBITDA increased 30.7% to $195.5 million, with a margin improvement to 13.7%. The company also generated significant cash flow, with free cash flow of $96.5 million. Improved net debt leverage to 1.6 times indicates solid financial health. CEO John C. Turner, Jr. cites strong housing demand and the AMES acquisition as key contributors to performance.
GMS Inc. (NYSE:GMS) announced it will release its financial results for the fiscal quarter ending October 31, 2022, on December 8, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss financial outcomes and recent developments. Investors can access the call via the company's website, with playback available until January 8, 2023. Founded in 1971, GMS operates about 300 distribution centers and 100 tool centers across the U.S. and Canada, providing a wide array of building products and services.
GMS Inc. (NYSE: GMS), a top North American specialty building products distributor, will present at the Stephens Annual Investment Conference on November 15, 2022, at 11 AM CT (noon ET). The presentation will be streamed live on the company’s website, www.gms.com, with an archived replay available for 90 days. Founded in 1971, GMS operates 300 distribution centers and approximately 100 tool sales, rental, and service centers across the U.S. and Canada, offering a wide array of building products and solutions to contractors.
GMS reported record fiscal Q1 2023 results, with net sales of $1.36 billion, a 30.5% increase year-over-year, supported by strong demand across various product categories. Net income rose 46.2% to $89.5 million, or $2.07 per diluted share. Adjusted EBITDA also increased by 36.6% to $175 million. Despite a slight decline in gross margin to 32.0%, the company noted strong residential construction activity and improving commercial prospects. The net debt leverage decreased to 1.8 times, reflecting improved financial health. GMS expanded its footprint with acquisitions and new locations.
GMS Inc. (NYSE:GMS) has announced it will release its financial results for the fiscal quarter ending July 31, 2022, on September 1, 2022, before market opening. A conference call will follow at 8:30 a.m. ET to discuss results and recent events, allowing for a Q&A session. Investors can access the call and accompanying presentation on GMS's website. Founded in 1971, GMS operates approximately 300 distribution centers across the U.S. and Canada, focusing on building products like wallboard and ceilings, serving residential and commercial contractors.
GMS Inc. (NYSE: GMS) has appointed Leigh Dobbs as the new Chief Human Resources Officer (CHRO), effective September 6, 2022. President and CEO John C. Turner expressed confidence in her extensive HR expertise, emphasizing the importance of her role in achieving strategic growth and enhancing company culture. Ms. Dobbs brings over 20 years of HR experience, having held significant positions at Zenith American Solutions, Randstad North America, and BlueLinx Corporation.
GMS operates a vast network of approximately 300 distribution centers across North America, specializing in building products.
GMS Inc. (NYSE: GMS), a leading distributor of specialty building products, will present at the Jefferies Industrials Conference on August 9, 2022, at 3:00 PM Eastern Time. The presentation will be available for live streaming on their website, with an archived replay accessible for 90 days. Founded in 1971 and employing around 6,700 staff, GMS operates approximately 300 distribution centers in the U.S. and Canada, specializing in wallboard, ceilings, and steel framing.
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