Welcome to our dedicated page for GMS news (Ticker: GMS), a resource for investors and traders seeking the latest updates and insights on GMS stock.
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. has appointed Travis Hendren as the new Chief Operating Officer, effective August 1, 2022. Mr. Hendren, who has been with GMS since 2014 and served as President of GMS Canada, will oversee all field operations in his new role. His leadership is expected to enhance strategic priorities and operational support. Under his guidance, GMS opened 33 yards and completed 30 acquisitions. With nearly 300 distribution centers and about 6,700 employees, GMS specializes in building products across the US and Canada.
GMS Inc. (NYSE: GMS) reported impressive fourth-quarter and full-year fiscal 2022 results, with net sales reaching $1.29 billion, a 38.2% increase, and net income doubling to $76.5 million or $1.75 per diluted share. Adjusted EBITDA surged 69.1% to $154.2 million, reflecting strong demand and successful pricing strategies. The company also approved a new $200 million share repurchase program, replacing the earlier $75 million plan. With cash flow from operations of $199.5 million, GMS shows robust financial health despite rising interest rates.
GMS Inc. (NYSE:GMS) will release its financial results for the fiscal quarter and year ending
GMS Inc. (NYSE: GMS) has successfully acquired Construction Supply of Southwest Florida, Inc., enhancing its product offerings in Florida. This acquisition aligns with GMS's growth strategy, adding five new AMES store locations and four greenfield sites across key markets such as Massachusetts, Florida, Ohio, and South Carolina. The company aims to strengthen its local presence and customer service through these expansions, which include a new stucco-focused location in Florida.
GMS Inc. (NYSE: GMS) reported robust financial results for the fiscal third quarter ended January 31, 2022, with net sales reaching $1.15 billion, a 53.6% year-over-year increase, driven by inflationary pricing and strong demand in residential markets. Net income soared to $61.4 million, or $1.40 per diluted share, up 280.6%, and adjusted EBITDA rose 115.8% to $135.1 million. The company completed significant acquisitions and improved operational efficiency, illustrated by a net debt leverage ratio decrease to 2.3 times.
GMS Inc. (NYSE: GMS), a top specialty building products distributor, will present at the Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022, at 3:25 PM ET. The event will be webcast live on the company's website, with an archived replay available for 90 days. GMS operates nearly 300 distribution centers and over 90 tool sales centers across the U.S. and Canada, offering products like wallboard and steel framing. Their model combines national strategy with a strong local focus, ensuring exceptional customer service and economies of scale.
GMS Inc. (NYSE:GMS) announced it will release its financial results for the fiscal quarter ending January 31, 2022, on March 3, 2022, before market opening. A conference call will follow at 8:30 a.m. ET that same day, allowing investors to review results and ask questions. Interested parties can access the conference call via the company’s website, with a replay available until April 3, 2022. GMS operates nearly 300 distribution centers and over 90 tool sales and rental centers across the U.S. and Canada, specializing in construction products.
GMS Inc. (NYSE: GMS) has announced the opening of six new greenfield locations and five new AMES Taping Tools stores since early December 2021, enhancing its geographic footprint. This growth strategy aims to provide a broader range of products and services to customers in new Top 100 Metropolitan Statistical Areas. The new locations include Fort Myers, Milford, Abilene, Statesboro, Baltimore, and Ocean Springs. Additionally, AMES has expanded with new stores in Madison, Houston, Pflugerville, Greenville, and Peoria, further enhancing market coverage.
GMS reported impressive fiscal Q2 2022 results with net sales of $1.15 billion, a 41.5% increase compared to Q2 2021. Net income surged to $74.4 million or $1.69 per diluted share, while adjusted net income rose to $87.8 million or $2.00 per diluted share. Adjusted EBITDA climbed 81.2% to $149.5 million. Despite a 32.3% gross margin decline of 30 basis points, SG&A expenses improved significantly. The company also announced strategic acquisitions to bolster market position, with positive signs for future commercial construction.
GMS Inc. (NYSE: GMS) has successfully completed its acquisition of AMES Taping Tools LLC, a leader in automatic taping and finishing tools, for $212.5 million, funded through cash and credit facilities. This acquisition is part of GMS's growth strategy to expand product offerings and enhance customer service. Additionally, GMS acquired Kimco Supply Company, strengthening its presence in Florida's construction market. The company has also opened a new greenfield location in Johnson City, TN, further solidifying its operational footprint.
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