Builders FirstSource Inc. (NYSE: BLDR) sales increased 14.2% to $22.7 billion for the year driven by acquisitions, core organic growth and commodity inflation, partially offset by two fewer selling days.
Net income increased 59.3% to $2.7 billion.
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Core organic sales in value-added products increased by 20.9% in 2022. Core organic growth for Single-Family increased 4.9%, Repair and Remodel/Other increased 14.2%, and Multi-Family increased 9.5%.
Sales in the fourth quarter were $4.4 billion, a 6% decrease amid a weaker housing environment, as well as fewer selling days and commodity deflation. Acquisitions contributed 7.9% growth. Organic sales were down by 7.7%.
Core organic growth for Single-Family decreased 13.9%, Repair and Remodel/Other increased 14.9%, and Multi-Family increased 15.1%.
Profit for the fourth quarter was $384.5 million.
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