BLDR - Why Are Builders FirstSource Shares Dipping Today? | Benzinga
Builders FirstSource Inc (NYSE: BLDR) shares are trading lower by around 3% after it reported Q3 FY23 results.
The company posted a sales decline of 21.3% Y/Y to $4.53 billion, missing the consensus of $4.84 billion.
The sales fall was owing to a decline in core organic net sales of 13.5%, commodity deflation of 9.1%, and one fewer selling day having a negative impact of 1.6%, partly offset by impact from acquisitions of 2.9%.
Gross profit decreased 21.5% Y/Y to $1.6 billion, and the profit margin contracted 10 bps Y/Y to 34.9%, reflecting core organic margin normalization.
Adjusted EBITDA decreased 30.6% ...