GMS - Building Products Distributor GMS' Q2 Profit & Sales Slip Hit By Deflationary Steel Pricing & Reduced Single-Family Demand: Details | Benzinga
GMS Inc (NYSE: GMS) reported second-quarter FY24 net sales of $1.42 billion, a slight decline of 0.7% year-over-year and down 3.1% organically, beating the consensus of $1.38 billion.
The specialty building products distributor's adjusted EPS of $2.30 beat the consensus of $2.26.
In the U.S., Wallboard volume growth of 17.0% in multi-family and 6.5% in commercial helped to offset single-family volume declines of 11.4%.
Sales by product category: Wallboard $585.2 million (+0.1% Y/Y), Ceiling $175.3 million (+9.9% Y/Y), Steel Farming $232.1 million (-16.6% Y/Y), and Complementary Product $428.3 million (+4.8% Y/Y).
Gross ...