Builders FirstSource Inc.  reports that sales for the three months that ended on September 30, 2016 were $1.7 billion, a 37-percent increase over net sales of $1.3 billion for the same period in 2015, largely due to the acquisition of ProBuild, which was finalized in July 2015.

Gross margin in the third quarter of 2016 increased $112.3 million to $437.1 million versus 2015. This increase is largely attributable to the ProBuild acquisition.

 

Net income in the third quarter of 2016 was $125.5 million, or $1.10 per diluted share, compared to net loss of $8.7 million, or ($0.08) per diluted share, in 2015. 2016 net income was reduced by one time financing cost of $53.3 million, and increased by the release of our tax valuation allowance of $117.6 million.

 

Net sales were $1.7 billion for the third quarter of 2016t.

 

 

“We grew sales by 3 percent in the quarter and are executing against our strategic initiatives.” said Builders FirstSource CEO Floyd Sherman in a statement. “Integration efforts continue to progress as expected, creating approximately $20 million in savings in the quarter and almost $60 million year to date, before one time cost to implement.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *