Builders FirstSource Posts $47.4M Q1 Loss, Cuts Guidance $200M
Builders FirstSource reported a Q1 GAAP loss of $47.4 million (43¢ per share) and adjusted EPS of $0.27, missing the $0.39 estimate, despite revenue of $3.29 billion beating forecasts. The company trimmed full-year guidance by $200 million, targeting $14.6–15.6 billion in revenue and $1.1–1.5 billion in EBITDA.
1. Q1 Financial Results
Builders FirstSource posted a GAAP loss of $47.4 million, or $0.43 per share, in Q1 and reported adjusted EPS of $0.27, missing the $0.39 consensus estimate, while revenue fell 11% year-over-year to $3.29 billion, exceeding the $3.15 billion forecast.
2. Guidance Revision
The company cut full-year revenue guidance by $200 million to a range of $14.6–$15.6 billion and lowered EBITDA expectations by $200 million to $1.1–$1.5 billion, while forecasting free cash flow of $400–$500 million.
3. Margin Pressure
Adjusted EBITDA declined 42% due to deteriorating margins and operating leverage pressures in single-family home construction product sales.
4. Stock Performance
Shares have declined 19% year-to-date and 31% over the past 12 months on weaker housing demand and revised outlooks.