Builders FirstSource Inc. (NYSE: BLDR), Irving, Texas, national supplier of structural building products, components and services, reported sales for the first quarter ended March 31, 2024, were $3.9 billion, an increase of 0.2% from the prior-year period.
Organic sales were flat. Single-family increased 4.3%, while multifamily sales declined 13.4%, and Repair and Remodel/Other declined 4.7%.
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Profit was $258 million.
“Our resilient first-quarter results reflect our differentiated product portfolio and scale, our team members’ consistent focus on executing our strategic priorities, and our operational efficiency initiatives,” said Dave Rush, CEO. “As we expected, a weakening multifamily market and higher mortgage rates driving affordability challenges were headwinds to start the year.”
Builders FirstSource operates 570 locations in 43 states, with a market presence in 90 of the top 100 metro areas in the country.
