GMS - GMS Surpasses Q4 Sales Expectations Faces Near-Term Challenges in Wallboard And Steel Margins | Benzinga
GMS Inc. (NYSE:GMS) reported fourth-quarter fiscal 2024 net sales of $1.413 billion, an 8.4% year-over-year growth and 4% organic growth, beating the consensus of $1.403 billion.
The increase in sales was driven by volume growth across major product lines, although a deflation in steel prices partially offset this.
The specialty building products distributor’s adjusted EPS of $1.93 missed the consensus of $2.04.
Single-family year-over-year Wallboard volume growth for the fourth quarter turned positive for the first time since the fall of 2022.
Sales by product category: Wallboard $586.1 million (+7.6% Y/Y), Ceiling $188.9 million (+21.7% Y/Y), Steel Farming $220.5 million (-1.5% Y/Y), and Complementary Product $417.6 million (+9.8% Y/Y).
Gross profit rose 6.3% Y/Y to $451.198 million, and the margin contracted 60 basis ...