Builders FirstSource Q2: EPS Beat, Lower Sales And $1B Stock Buyback & More
Portfolio Pulse from Nabaparna Bhattacharya
Builders FirstSource (NYSE: BLDR) reported Q2 adjusted EPS of $3.50, beating estimates, but missed on sales with $4.456 billion. The company announced a $1 billion stock buyback plan and achieved $37 million in productivity savings. Despite a 1.6% decrease in net sales and a 12.9% drop in adjusted EBITDA, shares are trading higher by 5.61%.
August 06, 2024 | 5:18 pm
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Builders FirstSource reported Q2 adjusted EPS of $3.50, beating estimates, but missed on sales with $4.456 billion. The company announced a $1 billion stock buyback plan and achieved $37 million in productivity savings. Despite a 1.6% decrease in net sales and a 12.9% drop in adjusted EBITDA, shares are trading higher by 5.61%.
The positive EPS surprise and the announcement of a $1 billion stock buyback plan are likely driving the stock price higher despite the sales miss and decline in adjusted EBITDA. The market appears to be focusing on the company's strong EPS performance and shareholder-friendly actions.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100