May 11, 2022

Builders FirstSource Eyes More M&A, Higher Outlook After Big 1Q

The company still has plenty of capital left in its 2022 M&A budget, and underlying growth has it targeting accelerated revenue growth.

An annualized growth rate of 10.6% accelerated across industrial and construction distributors during the first three months of 2022.

New South Construction Supply said an agreement to acquire American Contractor’s Supply has been dissolved.

The distributor reported 2022 first-quarter net sales of $5.7 billion, while net income grew 270.6% to $639.6 million.