The 2020 Mid-Year Economic Update_long

Builders FirstSource Sales Up 7.1% in 2Q

Year-to-date sales up 7.6 percent year-over-year.

Builders FirstSource Inc. (NASDAQ: BLDR), Dallas, TX, reported sales for the second quarter of $426.5 million, a 7.1 percent increase year-over-year. The company reported a profit of $10.6 million, compared to a loss of $48.2 million in the second quarter of 2013.

"We were able to achieve this high level of sales even though sales were reduced by commodity deflation this quarter, as market prices for lumber and lumber sheet goods were, on average, 8.8 percent lower when compared to the second quarter of 2013," said CEO Floyd Sherman. "Our recent acquisition of Slone Lumber was another positive event during the quarter, and one that affords us the opportunity to expand our presence in the Houston market, which is currently the number one homebuilding market in the country."

Year-to-date sales were $772.5 million, up 7.6 percent from the prior-year period. Profit was $7.2 million, compared to a loss of $60 million in the prior-year period.

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