GMS Q4 2023 Earnings Report
Key Takeaways
GMS reported a 1.2% increase in net sales to $1.30 billion for the fourth quarter of fiscal year 2023. Net income decreased slightly to $75.6 million, while adjusted EBITDA remained relatively stable at $154.3 million. The company continued its platform expansion through acquisitions and new store openings.
Net sales increased by 1.2% compared to the prior year quarter, reaching $1.30 billion.
Gross profit increased by 2.8% to $424.5 million, with gross margin improving to 32.5%.
Net income decreased slightly by 1.2% to $75.6 million.
Adjusted EBITDA was $154.3 million, with a margin of 11.8%.
GMS
GMS
Forward Guidance
GMS is well-positioned to navigate the shift in demand toward multi-family and commercial projects, encouraged by recent improvements in starts activity and builder sentiment.