Builders' Loss Narrows in 4Q - Analyst Blog
25 February 2013 - 8:50PM
Zacks
Builders FirstSource,
Inc. (BLDR) reported its financial results for the fourth
quarter and year 2012 on Feb 21, 2013. The company reported
adjusted loss per share of 8 cents in the quarter compared with a
loss of 9 cents reported in the year-ago quarter and the Zacks
Consensus Estimate of a loss per share of 7 cents.
For 2012, adjusted net loss reported was 31 cents per share, an
improvement over a loss of 38 cents reported in 2011 and the Zacks
Consensus Estimate of a loss of 32 cents.
Total revenue in the fourth quarter jumped 49.3% year over year to
$287.6 million while that for year 2012 increased 37.4% to $1,070.7
million.
Revenue across various product categories increased in the quarter
with Prefabricated components registering revenue increase of 48.7%
and Windows & doors revenue increasing by 32.0%. Lumber and
lumber sheet goods revenue increased 77.8%, revenue from Millwork
jumped 40.5% and that from Other building products & services
increased 34.2%.
Gross profits in the fourth quarter climbed 47.8% year over year
and came in at $58.1 million while gross margin settled at 20.2%.
As a percentage of revenue, selling, general and administrative
expenses represented 20.1%, down 430 basis points over the year-ago
quarter.
Exiting the fourth quarter 2012, the company’s cash and cash
equivalents (including restricted cash) stood at $143.5 million,
down from $160.1 million in the year-ago quarter. Long-term debt
balance was at $360.9 million, up 21.3% year over year.
For the full year 2012, cash used in operating activities was $66.9
million, roughly flat compared with 2011 while capital spending
increased from $4.8 million in 2011 to $10.4 million.
Builders FirstSource, Inc, with a market capitalization of $566
million, primarily engages in the supply and manufacture of
structural and related building products for new residential
constructions in the United States.
The stock currently carries a Zacks Rank #2 (Buy). Other stocks to
watch out for in the industry are Lumber Liquidators
Holdings, Inc. (LL) and Travis Perkins
plc (TVPKF), both holding a Zacks Rank #1 (Strong Buy) and
Beacon Roofing Supply, Inc. (BECN), with a Zacks
Rank #2 (Buy).
BEACON ROOFING (BECN): Free Stock Analysis Report
BUILDERS FIRSTS (BLDR): Free Stock Analysis Report
LUMBER LIQUIDAT (LL): Free Stock Analysis Report
TRAVIS PERKINS (TVPKF): Get Free Report
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