Builders FirstSource Releases Positive Fourth Quarter, End of Year Financial ReportMarch 2nd, 2021 by Editor
The fourth quarter and full year ending December 31, 2020 financial reports look good for Builders FirstSource Inc., with net sales of $2.5 billion for the last three months of 2020, a 43.5% increase over the fourth quarter of 2019. Those numbers do not include the company’s transformational merger with BMC Stock Holdings (BMC) in an all-stock transaction that finalized on the first of the year, but acquisitions completed during the prior four quarters contributed net sales growth of 2%.
“Record fourth quarter results reflect an exceptional finish to a year of remarkable performance, despite the challenges in 2020,” said Chad Crow, CEO. “Solid momentum from the continued execution of our strategic plan combined with strong residential market tailwinds positions Builders FirstSource to accelerate its success through the recently completed combination with BMC. The combined company provides a broader platform for growth including a deepened presence in the top housing markets across the nation.”
The company also reports that demand improved across its three customer end markets for the fourth quarter, compared to fourth quarter 2019. Single family, repair and remodel/other and multi-family grew estimated core organic sales by 18.2%, 6.1% and 9.9% respectively.
The company’s net sales for the full year 2020 was calculated at $8.6 billion, a record for Builders FirstSource, and a 17.6% increase compared to the full year 2019, with acquisitions and core organic growth contributing 2.5% and 5.6% of the increase, respectively, across all three customer end markets.
Looking to 2021, the company expects improvement in its financial performance, including the net sales growing to a range of $13.9 billion to $14.6 billion or approximately 9% to 14% over its 2020 pro forma net sales of $12.8 billion.