Why Are Builders FirstSource Shares Dipping Today?
Portfolio Pulse from Lekha Gupta
Builders FirstSource Inc (NYSE:BLDR) shares are trading lower by around 3% after it reported Q3 FY23 results. The company posted a sales decline of 21.3% Y/Y to $4.53 billion, missing the consensus of $4.84 billion. Adjusted EBITDA decreased 30.6% Y/Y to $813.3 million due to lower net sales. However, adjusted EPS of $4.24 beat the consensus of $3.73. The company revised its FY23 outlook for sales and adjusted EBITDA.
November 01, 2023 | 12:23 pm
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Builders FirstSource reported a sales decline and lower EBITDA in Q3 FY23, causing its shares to drop by 3%. However, it beat EPS estimates and revised its FY23 outlook.
The company's lower than expected sales and EBITDA results have negatively impacted the stock price. However, the beat on EPS and the revised outlook may mitigate the negative impact in the short term.
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