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Latest In Builders FirstSource
The distributor reported 2022 first-quarter net sales of $5.7 billion, while net income grew 270.6% to $639.6 million.
The distributor announced that Amy Bass Messersmith will be joining Builders FirstSource's executive team effective March 14.
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The distributor’s 2021 yearly net sales reached nearly $20 billion, while fourth-quarter net sales reached $4.6 billion.
The building materials distributor says its board of directors has authorized the company to repurchase $1 billion of its common shares.
The building materials distributor completed its acquisition of the largest independent building materials supplier in New England.
For the third quarter of 2021, the building materials distributor reported net sales of $5.5 billion and net income of $613.1 million.
The digital move complements the building distributor’s June acquisition of software provider WTS Paradigm.
Builders FirstSource CEO: The move will “strengthen our broad portfolio of industry-leading solutions and valued-added products.”
With the deal completed, Builders FirstSource said Paradigm will operate as an independent business going forward.
Builders FirstSource CEO and President Flitman said the stock repurchase plan underpins the company’s confidence in its balance sheet and strong cash flow generation.
Dallas-based building materials distributor Builders FirstSource, still riding the momentum of its merger with BMC Stock Holdings, reported another strong quarter.
The transaction, announced earlier this month, “supports L&W Supply’s overall growth strategy,” according to the company’s president.
The Dallas-based building materials giant is unloading the business to L&W Supply for an undisclosed amount.
Builders FirstSource CEO Flitman says the NYSE is the preferred exchange for the building materials industry.
The building materials behemoth dropped a sizable pile of cash on a software provider as the distributor doubles down on its digital capabilities.
The addition of WTS Paradigm LLC, a software solutions and services provider for the building products industry, is another digital investment for the distributor.
Cornerstone Alliance is the largest independently operated supplier of building materials in Arizona.
Addition of John’s Lumber will benefit Builders FirstSource’s operations through the state of Michigan.
