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Apr 30, 2023
GMS Q4 2023 Earnings Report
GMS reported solid results driven by multi-family construction activity, commercial recovery, and resilient pricing.
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%.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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