Builders FirstSource 1Q Sales Up 36%

The distributor reported 2022 first-quarter net sales of $5.7 billion, while net income grew 270.6% to $639.6 million.
Builders FirstSource 1Q 2022 earnings

Dallas-based building materials distributor Builders FirstSource, Inc. (NYSE: BLDR) reported 2022 first-quarter sales of $5.7 billion, a 36.1% increase over the same period in 2021.

The company said sales increases were driven by double-digit core organic growth, commodity inflation and acquisitions.

Net income in 1Q 2022 grew 270.6% to $639.6 million, or $3.56 per diluted share, and adjusted net income increased 136.5% to $700.8 million, or $3.90 per diluted share. Adjusted EBITDA increased 119.8% to a 1Q record of $1 billion driven in part by strong demand in the residential housing market, the company said.

“We started the year out strong achieving another quarter of record net sales, gross margin and Adjusted EBITDA, while also producing strong core organic sales growth of 15%,” said Dave Flitman, president and CEO of Builders FirstSource. “In addition, we continue to make progress investing prudently in our operations and delivering outstanding service to our customers as we work to overcome the supply chain constraints that persist throughout our industry. Our efforts to broaden our value-added products, which saw core organic sales up 31%, alongside our strategic investments in digital, are helping our customers get their jobs done quickly, on time and cost-effectively. The success we have achieved is directly attributable to our hard working and dedicated team members who go above and beyond each day to help us maintain our position as an industry leader.”

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.