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Mar 31, 2022
Builders FirstSource Q1 2022 Earnings Report
Builders FirstSource reported record first-quarter results driven by core organic growth, commodity inflation, and acquisitions.
Key Takeaways
Builders FirstSource reported a strong start to 2022, achieving record net sales of $5.7 billion, a 36.1% increase, and a 15% core organic sales growth. Net income increased by 270.6% to $639.6 million, and adjusted EBITDA rose by 119.8% to $1.0 billion.
Net sales increased by 36.1% to $5.7 billion, driven by core organic growth, commodity inflation, and acquisitions.
Net income grew by 270.6% to $639.6 million, or $3.56 per diluted share.
Adjusted EBITDA increased by 119.8% to $1.0 billion.
The company repurchased approximately 3.6 million shares of its common stock for approximately $286 million during the quarter.
Builders FirstSource
Builders FirstSource
Builders FirstSource Revenue by Segment
Revenue by Segment
Manufactured products Revenue
CapyFin.comWindows, doors & millwork Revenue
CapyFin.comLumber & sheet goods Revenue
CapyFin.com Forward Guidance
The company anticipates growth across geographies in single-family starts in the mid-single digits, multi-family starts in the low to mid-single digits, and R&R in the low to mid-single digits. They project acquisitions to add net sales growth of 5% to 6%.
Positive Outlook
- Growth in single family starts in the mid-single digits.
- Growth in multi-family starts in the low to mid-single digits.
- Growth in R&R in the low to mid-single digits.
- Acquisitions projected to add net sales growth of 5% to 6%.
- Expect to generate free cash flow of $2.0 billion to $2.4 billion.
Challenges Ahead
- One fewer selling day in the fourth quarter of 2022 versus 2021, approximately 0.3%.
- Depreciation and amortization expenses in the range of $440 million to $460 million.
- Total capital expenditures in the range of $375 million to $400 million.
- Interest expense in the range of $175 million to $185 million.
- An effective tax rate between 23.0% to 25.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income