Builders FirstSource Reports 11.3% Sales Drop in 3Q
Builders FirstSource, Inc.,
Dallas, TX, a supplier and manufacturer of
structural and related building products for residential new construction,
reported third-quarter sales declined 11.5% to $569.9 million, and profit was
$17.3 million, down from $27.8 million in the same period last
quarter results reflect the current challenges facing the homebuilding industry
as many homebuilders work through excess inventory,' said CEO Floyd Sherman.
'Our sales were down only 11.5% year-over-year despite an estimated 20.6%
decrease in housing starts in our markets and a 14.3% decrease in nationwide
commodity lumber and lumber sheet good prices."
Many of the
company's largest ...