- GMS press release ( NYSE: GMS ): FQ2 Non-GAAP EPS of $2.79 beats by $0.45 .
- Revenue of $1.43B (+24.3% Y/Y) beats by $70M .
- Organic net sales increased 22.2%. 11.6% volume growth in Wallboard, including the second consecutive quarterly year-over-year expansion in commercial Wallboard volume.
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Adjusted EBITDA increased $46.0 million, or 30.7%, to $195.5 million compared to the prior year quarter. Adjusted EBITDA margin of 13.7% improved 70 basis points from 13.0% for the second quarter of fiscal 2022.
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As of October 31, 2022, the Company had cash on hand of $124.2 million, total debt of $1.2 billion and $293.8 million of available liquidity under its revolving credit facilities. Net debt leverage was 1.6 times as of the end of the quarter, down from 2.4 times at the end of the second quarter of fiscal 2022.
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Stock +5% pre-market
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GMS trades 5% higher on beating FQ2 estimates