Builders FirstSource Tops Q2 Street Expectations, Sees FY23 Revenue Above Consensus
Portfolio Pulse from Akanksha Bakshi
Builders FirstSource Inc (NYSE:BLDR) reported a Q2 FY23 sales decline of 34.6% YoY to $4.53 billion, beating the consensus of $4.25 billion. The sales fall was driven by a decline in core organic net sales and commodity deflation, partially offset by acquisitions. The company's gross profit decreased 33.9% to $1.6 billion, and the profit margin expanded to 35.2%. The company repurchased 7 million shares at an average price of $103.68 for $722.7 million during the quarter. For FY23, the company sees sales of $16.8 billion - $17.8 billion against the consensus of $16.46 billion.
August 04, 2023 | 11:34 am
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Builders FirstSource reported a decline in Q2 FY23 sales but beat the consensus. The company also repurchased shares and provided a positive FY23 sales forecast.
Despite the decline in sales, Builders FirstSource beat the consensus, which is a positive signal to the market. The company's share repurchase indicates confidence in its stock, and the positive FY23 sales forecast could lead to increased investor interest.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100