The 2020 Mid-Year Economic Update_long

Builders FirstSource Sales Improve by 133% in 1Q

Dallas-based Builders FirstSource said the large increase in net sales was driven in part by deal to buy BMC Stock Holdings, which closed earlier this year.
Builders FirstSource acquisition

Dallas-based Builders FirstSource Inc. (Nasdaq: BLDR) posted net sales of $4.17 billion for the first quarter compared to year-ago net sales of $1.79 billion for a 133.6% increase.

In Thursday’s earnings, Builders FirstSource said the marked increase was driven by its merger with BMC Stock Holdings, commodity inflation and strong organic growth. Last year the company announced its $2.5 billion acquisition of BMC Stock Holdings Inc., which closed in January.

“The positive momentum in our business continued with record first quarter results,” said Dave Flitman, CEO of Builders FirstSource. “We are working closely with our customers to reduce cycle times amid material availability constraints and capitalize on strong underlying demand in the single family residential housing market.”

Flitman took over as CEO in early April after the previous CEO, Chad Crow, retired.

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