GMS Q3 2022 Earnings Report
Key Takeaways
GMS Inc. reported a 53.6% increase in net sales to $1.15 billion for the third quarter of fiscal 2022. Net income increased 280.6% to $61.4 million, and Adjusted EBITDA increased 115.8% to $135.1 million.
Net sales increased 53.6% compared to the prior year quarter, primarily due to inflationary pricing and acquisitions.
Organic net sales increased 41.5%.
Net income increased 280.6% to $61.4 million, or $1.40 per diluted share.
Adjusted EBITDA increased $72.5 million, or 115.8%, to $135.1 million compared to the prior year quarter.
GMS
GMS
Forward Guidance
Looking ahead to close out our fiscal year in April, similar market dynamics as we experienced in the third quarter along with indications of improving levels of commercial activity, serve as a positive backdrop as we are confident we will continue to deliver exceptional levels of service to provide value to customers and to drive strong results for our stakeholders.