Builders FirstSource slips after Q4 sales, 2025 forecast miss

Builders Firstsource

20/02/2025 13:37

** Builders FirstSource  BLDR.N  shares down 3.6% premarket to
$139.60 after Q4 sales and 2025 forecasts were shy of Wall
Street expectations
** Irving, Texas-based building products manufacturer reported
Q4 net sales of $3.8 bln, down 8% y/y, below LSEG estimate of
$3.9 bln
    ** For 2025, co forecasts net sales of $16.5-$17.5 bln,
midpoint of which below analysts' expectation of $17.3 bln, and
adj EBITDA of $1.9-$2.3 bln vs consensus view of $2.3 bln
    ** Full-year outlook assumes single-family home starts
projected roughly flat, multi-family starts down mid-teens, and
repair and remodel (R&R) to be up low-single digits
    ** For Q4, it posted adj EBITDA of $493.6 mln, down 28% from
a year ago, but topping estimate of $480.2 mln
    ** Of 20 analysts covering BLDR, recommendation breakdown is
16 "strong buy" or "buy", 4 "hold"; median PT of $200 down from
$220 two months ago - LSEG
    ** Through Weds close, BLDR shares have fallen 21% over the
past year. That compares to ~18% gain in S&P 500 Industrials
 .SPLRCI  and ~23% advance in S&P 500  .SPX  in same time frame

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))