- Builders FirstSource press release ( NYSE: BLDR ): Q4 Non-GAAP EPS of $3.21 beats by $0.90 .
- Revenue of $4.4B (-5.0% Y/Y) beats by $150M .
- Adjusted EBITDA decreased 12.2% to $0.7 billion, mainly driven by a decline in net sales and higher operating expenses. Adjusted EBITDA margin declined by 110 basis points to 16.0%.
- Cash provided by operating activities was $1.0 billion, and free cash flow was $0.8 billion.
- Strong quarter-end balance sheet with liquidity of $1.5 billion and a net debt to LTM Adjusted EBITDA ratio of 0.7x.
- Q1 2023 Total Company Guidance : Net Sales to be in a range of $3.4 billion to $3.7 billion vs. consensus of $3.71B; Adjusted EBITDA to be in a range of $400 million to $440 million; Adjusted EBITDA margin to be in a range of 11.7% to 11.9%.
- 2023 Full Year Assumptions: Total capital expenditures in the range of $300 million to $350 million. Interest expense in the range of $150 million to $170 million. An effective tax rate of 23.0% to 25.0%.
- Depreciation and amortization expenses in the range of $525 million to $550 million. Total depreciation projected to be $215 million and total amortization projected to be $325 million.
- No change in selling days in 2023 versus 2022.
- Productivity savings in the range of $90 million to $110 million.
For further details see:
Builders FirstSource beats Q4 top and bottom line estimates; initiates Q1 and FY23 outlook