Builders FirstSource Q2 2024 10-Q Filed

TL;DR

BLDR Q2 10-Q is in. Shows debt details and segment performance. Check it.

AI Summary

Builders FirstSource, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and includes information on various senior notes, such as the 4.25% Senior Notes due 2032 and the 6.375% Senior Notes due 2034. The company also reported on its Windows, Doors, and Millwork segment and Specialty Building Products and Services segment for the second quarter of 2024.

Why It Matters

This filing provides investors with the latest financial snapshot of Builders FirstSource, including details on their debt obligations and segment performance, crucial for understanding the company's financial health and operational trends.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information, including debt instruments and segment performance, which requires careful analysis to assess the company's financial health and associated risks.

Key Numbers

• 20240630 — Period End Date (The 10-Q covers financial data up to this date.)
• 2024-04-01 — Quarter Start Date (Beginning of the reporting period for the Windows, Doors, and Millwork segment.)
• 2023-06-30 — Prior Year Quarter End (Comparison point for financial performance.)

Key Players & Entities

• Builders FirstSource, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — Period of report
• 0000950170-24-091788 (other) — Accession Number
• 4.25% Senior Notes due 2032 (dollar_amount) — Debt instrument mentioned
• 6.375% Senior Notes due 2034 (dollar_amount) — Debt instrument mentioned

FAQ

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 August 1, 2024, w

Filing Documents

• bldr-20240630.htm (10-Q) — 1348KB
• bldr-ex31_1.htm (EX-31.1) — 12KB
• bldr-ex31_2.htm (EX-31.2) — 12KB
• bldr-ex32_1.htm (EX-32.1) — 8KB
• 0000950170-24-091788.txt ( ) — 5954KB
• bldr-20240630.xsd (EX-101.SCH) — 873KB
• bldr-20240630_htm.xml (XML) — 967KB

— 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 and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Balance Sheets (Unaudited) as of June 30, 2024, and December 31, 2023 4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Six Months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) for the Three and Six Months Ended June 30, 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 20 Item 4.

Controls and Procedures

Controls and Procedures 20

— OTHER INFORMATION

PART II — OTHER INFORMATION 22 Item 1.

Legal Proceedings

Legal Proceedings 22 Item 1A.

Risk Factors

Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 5. Other Information 23 Item 6. Exhibits 24 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 June 30, Six Months Ended June 30, (in thousands, except per share amounts) 2024 2023 2024 2023 Net sales $ 4,456,340 $ 4,528,890 $ 8,347,692 $ 8,412,204 Cost of sales 2,993,656 2,933,944 5,585,154 5,445,858 Gross margin 1,462,684 1,594,946 2,762,538 2,966,346 Selling, general and administrative expenses 973,201 1,017,874 1,899,458 1,922,091 Income from operations 489,483 577,072 863,080 1,044,255 Interest expense, net 52,016 53,016 100,352 95,124 Income before income taxes 437,467 524,056 762,728 949,131 Income tax expense 93,377 119,437 159,857 210,726 Net income $ 344,090 $ 404,619 $ 602,871 $ 738,405 Net income per share: Basic $ 2.89 $ 3.19 $ 5.00 $ 5.59 Diluted $ 2.87 $ 3.16 $ 4.95 $ 5.54 Weighted average common shares: Basic 119,244 126,977 120,608 132,034 Diluted 120,072 128,066 121,721 133,247 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) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 75,569 $ 66,156 Accounts receivable, less allowances of $ 45,102 and $ 42,488 , respectively 1,482,336 1,436,917 Other receivables 292,610 290,310 Inventories 1,289,708 1,228,265 Contract assets 190,937 165,677 Other current assets 123,545 113,403 Total cur

View Full Filing

View this 10-Q filing on SEC EDGAR