Builders FirstSource, Inc. (NYSE: BLDR), a U.S. supplier of building products, prefabricated components and services to the professional construction and remodeling market, announced its first-quarter sales ending March 31, 2022, were $5.7 billion, an increase of 36.1% over the prior-year period. Sales growth was driven by double-digit core organic growth, commodity inflation and acquisitions.
In addition, net income grew by 270.6% to $639.6 million. Adjusted EBITDA increased 119.8% to a first-quarter record of $1 billion.
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“We started the year out strong, achieving another quarter of record net sales, gross margin and Adjusted EBITDA while also producing strong core organic sales growth of 15%. In addition, we continue to make progress investing prudently in our operations and delivering outstanding service to our customers as we work to overcome the supply chain constraints that persist throughout our industry,” Builders FirstSource President and CEO Dave Flitman said.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.