Builders FirstSource, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Builders FirstSource, Inc. (BLDR) filed its Q1 2024 10-Q, detailing financial positions and equity grants.</b>

AI Summary

Builders FirstSource, Inc. (BLDR) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Builders FirstSource, Inc. filed its 10-Q report for the period ending March 31, 2024. The filing includes data related to various financial instruments and equity accounts as of March 31, 2024, and December 31, 2023. Specific financial elements mentioned include Senior Notes due 2034, Senior Notes due 2032, and a Revolving Credit Facility. The report details restricted stock unit grants under the 2014 Incentive Plan, including time-based and performance-based grants. Segment information for Lumber and Lumber Sheet Goods, and Manufactured Products for Q1 2024 and Q1 2023 is referenced.

Why It Matters

For investors and stakeholders tracking Builders FirstSource, Inc., this filing contains several important signals. This 10-Q provides an updated snapshot of Builders FirstSource's financial health and capital structure, crucial for investors assessing debt levels and credit facilities. The inclusion of details on stock grants and segment performance offers insights into executive compensation strategies and operational performance drivers.

Risk Assessment

Risk Level: low — Builders FirstSource, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine disclosure of financial information.

Analyst Insight

Monitor future filings for trends in revenue growth and net income, particularly in relation to the mentioned debt instruments and stock compensation plans.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed Period of Report)
• 2024-05-07 — Filing Date (Date the report was filed)
• 2024-01-01 — Q1 2024 Start Date (For reporting periods like stock grants and segment data)
• 2023-12-31 — Previous Year End Date (For comparative balance sheet items)

Key Players & Entities

• Builders FirstSource, Inc. (company) — Filer of the 10-Q report
• 0000950170-24-054249 (other) — Accession Number for the filing
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-07 (date) — Filed As Of Date
• 6031 Connection Dr., Ste. 400, Irving, TX 75039 (address) — Business and Mail Address
• 001-40620 (other) — SEC File Number

FAQ

Key Dates

• 2024-03-31: Quarter End — Primary reporting date for financial statements
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and position between annual reports.)

Revolving Credit Facility

A type of credit facility that allows a company to borrow, repay, and re-borrow funds up to a certain limit. (Indicates the company's access to short-term liquidity and its debt management strategy.)

Key Financial Figures

• $0.01 — ch Registered Common stock, par value $0.01 per share BLDR New York Stock Excha
• $0 — of the issuer's common stock, par value $0.01, outstanding as of May 1, 2024, was

Filing Documents

• bldr-20240331.htm (10-Q) — 1089KB
• bldr-ex31_1.htm (EX-31.1) — 12KB
• bldr-ex31_2.htm (EX-31.2) — 12KB
• bldr-ex32_1.htm (EX-32.1) — 8KB
• 0000950170-24-054249.txt (&nbsp;) — 5308KB
• bldr-20240331.xsd (EX-101.SCH) — 866KB
• bldr-20240331_htm.xml (XML) — 800KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Operations (Unaudited) for the Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Balance Sheets (Unaudited) as of March 31, 2024, and December 31, 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19

— OTHER INFORMATION

PART II — OTHER INFORMATION 21 Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 5. Other Information 22 Item 6. Exhibits 23 2 P ART I — FINANCIAL INFORMATION I tem 1. Financial Statements (unaudited) BUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES C ONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, (in thousands, except per share amounts) 2024 2023 Net sales $ 3,891,352 $ 3,883,314 Cost of sales 2,591,498 2,511,914 Gross margin 1,299,854 1,371,400 Selling, general and administrative expenses 926,257 904,217 Income from operations 373,597 467,183 Interest expense, net 48,336 42,108 Income before income taxes 325,261 425,075 Income tax expense 66,480 91,289 Net income $ 258,781 $ 333,786 Net income per share: Basic $ 2.12 $ 2.44 Diluted $ 2.10 $ 2.41 Weighted average common shares: Basic 121,972 137,074 Diluted 123,371 138,412 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 BUILDERS FIRSTSOURCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS (Unaudited) (in thousands, except per share amounts) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 697,475 $ 66,156 Accounts receivable, less allowances of $ 48,647 and $ 42,488 , respectively 1,394,667 1,436,917 Other receivables 200,471 290,310 Inventories, net 1,356,907 1,228,265 Contract assets 173,315 165,677 Other current assets 120,453 113,403 Total current assets 3,943,288 3,300,728 Property, plant and equipment, net 1,836,134 1,803,824 Operating lease right-of-use assets, net 509,756 502,184 Goodwill 3,582,857 3,556,556 Intangible assets, net 1,242,381 1,298,173 Other assets, net 54,027 37,987 Total assets $ 11,168,443 $ 10,499,452 L

View Full Filing

View this 10-Q filing on SEC EDGAR