Builders FirstSource Reports First-Quarter Loss

April 27th, 2015 by Editor

Builders FirstSource, which recently announced plans to acquire ProBuild, reported a loss of $7.1 million in the first quarter of 2015.

Compared to the first quarter of 2014, Builders FirstSource saw sales rise 7.2 percent to $371 million. Gross margin percentage was 22.6 percent, up 90 basis points from 21.7 percent in the first quarter of 2014.

“Demand for new housing continues to slowly yet consistently improve, and we look to use this momentum to grow our revenues and market share, while continuing to improve our operating margins,” CEO Floyd Sherman said in a statement. “Our recently announced transaction with ProBuild, which we expect to close in the second half of 2015, will be a high priority for us in the coming months, and we look forward to being able to bring the best talent in the industry together as one team. We believe this transaction significantly enhances our opportunity for growth, and we have never been more excited about the future prospects for our company.”

Builders FirstSource supplies and manufactures building products for residential construction.

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