On their face, fiscal Q1 results from building products distributor GMS Inc. (GMS) don't look like quite enough to support the huge gains GMS stock has posted. In two and a half sessions (as of this writing) since earnings, GMS has rallied 29%.
Yet organic sales growth of 3.4% represents a notable deceleration against the 7% posted in fiscal 2019 (ending April). Steel framing revenue declined on an organic basis, a potential risk given that category provides a leading indicator for wallboard revenue. And GMS' major acquisition of WSB Titan has caused some