Builders FirstSource Inc. (NYSE: BLDR), Irving, Texas, national distributor of building products and prefab components, reported sales for the second quarter ended June 30, 2024, were $4.5 billion, a decrease of 1.6% from the prior-year period.
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Profit for the quarter was $344.1 million, down 15% from a year ago.
Year-to-date sales were $8.3 billion, down less than 1% from 2023, while year-to-date profit was $602.9 million, an 18.4% drop.
“As we continue to operate in this complex environment, I am proud of our resilient second quarter results highlighted by maintaining a mid-teens EBITDA margin, which demonstrates the strength of our differentiated business model and the hard work of our extraordinary team members,” said Dave Rush, Builders FirstSource CEO.
“While we continue to see weaker than expected single-family starts, slowing multifamily and broader housing affordability challenges, we are executing our strategy by controlling what we can control, investing in value-added solutions, and driving adoption of our industry-leading digital platform.”
Builders FirstSource operates 570 locations in 43 states.
