The 2020 Mid-Year Economic Update_long

Builders FirstSource Sales Increase 20.5% in 2Q

Volatility in commodity prices added strain to an already stressed housing market.

Dallas, TX-based Builders FirstSource, Inc. (NasdaqGS: BLDR), No. 10 on the top 10 building materials/construction distributors, reported sales for the second quarter were $211.5 million, an increase of 20.5 percent over the same period a year ago. The company recorded a net loss of $19 million, compared with a net loss of $22.6 million last year.

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For the first six months, sales increased 11.3 percent to $372.9 million, The half-year loss reported was $50.4 million, compared with a year ago loss of $53.2 million.

\”An extremely volatile commodity market during the quarter added to what was already one of the toughest housing markets in our nation’s history,\” CEO Floyd Sherman said. \”There still appears to be a significant amount of uncertainty in the macroeconomic factors that drive our business. We will continue managing our business in the same conservative manner as we have over the past several years and will do so until greater clarity returns to the homebuilding sector.\”

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