Builders FirstSource beats by $3.22, beats on revs
- Reports Q2 (Jun) earnings of $6.26 per share, excluding non-recurring items, $3.22 better than the S&P Capital IQ Consensus of $3.04; revenues rose 24.2% year/year to $6.93 bln vs the $5.55 bln S&P Capital IQ Consensus.
- Outlook: Market change across our geographies in single family starts down mid-single digits, multi-family starts to be up in the low double digits; and R&R projected to be up in the low to mid- single digits. Acquisitions completed within the last twelve months are projected to add net sales growth of 6% to 7%. One fewer selling day in the fourth quarter of 2022 versus 2021 or approximately 0.3%. Depreciation and amortization expenses in the range of $460 million to $480 million, including approximately $180 million of amortization related to intangible assets acquired in the BMC merger. Total depreciation projected to be $190 million and total amortization projected to be $280 million for the full year 2022.
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