Builders FirstSource Reports Highest Sales since 2006
Window & Door
July 25, 2014
July 25, 2014
Builders FirstSource achieved its highest sales level since 2006 as it swung to a profit in the second quarter ended June 30, the company reported in its second quarter results released July 24.
Second quarter highlights include:
- Second quarter 2014 sales increased 7.1 percent to $426.5 million, when compared to the second quarter of 2013.
- Gross margin percentage improved to 22.0 percent, up from 20.7 percent in the second quarter of 2013. Gross margin percentage increased primarily due to improved customer pricing versus the second quarter of 2013.
- Adjusted EBITDA was $20.4 million, up $3.6 million over the second quarter of 2013.
- Completed the acquisition of Slone Lumber Company on June 30th, increasing the company's presence in the greater Houston market.
“We were able to achieve this high level of sales even though sales were reduced by commodity deflation this quarter, said Floyd Sherman, CEO. He pointed to an average drop of 8.8% drop in market prices for lumber and lumber sheet goods in the quarter. The growth also came against a backdrop of disappointing residential construction statistics, he said.
The company operates 54 units and 48 manufacturing facilities in 9 states.
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