Price Inflation Helps Builders FirstSource Sales

Builders FirstSource, Inc. had net sales of $5.7 billion for the first quarter of 2022, a 36.1 per cent increase versus net sales of $4.2 billion in the first quarter of 2021. Core organic sales increased by 15 per cent. Commodity price inflation contributed 12.8 per cent to net sales and acquisitions contributed net sales growth of 8.3 per cent. Gross profit for the quarter was $1.8 billion, a 71.3 per cent increase compared to the prior-year quarter. The gross profit margin percentage increased 670 basis points to 32.3 per cent, primarily driven by disciplined pricing in a volatile, supply-constrained marketplace, as well as effective and timely sourcing of materials. Net income was $639.6 million compared to net income of $172.6 million and adjusted earnings before taxes increased 119.8 per cent to $1 billion.