Builders FirstSource, Inc. SEC 10-Q Report

Builders FirstSource, Inc., a leading supplier and manufacturer of building materials, released its Form 10-Q report for the third quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, reflecting the challenges and opportunities faced in the current market environment.

Financial Highlights

• Net Sales: $3,941.2 million, a 6.9% decrease from the same period in 2024, primarily due to decreases in the multi-family and single-family customer segments.
• Gross Margin: $1,199.5 million, representing 30.4% of net sales, down from 32.8% in the prior year, primarily driven by a below-normal starts environment.
• Income from Operations: $228.8 million, a decrease from $428.0 million in the prior year, reflecting reduced operating leverage.
• Net Income: $122.4 million, a decrease from $284.8 million in the prior year, primarily due to lower income before income taxes.
• Basic Net Income Per Share: $1.11, down from $2.45 in the prior year, reflecting the decrease in net income.
• Diluted Net Income Per Share: $1.10, down from $2.44 in the prior year, reflecting the decrease in net income.

Business Highlights

• Revenue Segments: The company experienced a decrease in net sales across several product categories. Manufactured products saw a decline of 14.4% due to decreased single-family and multi-family activity. Windows, doors, and millwork sales decreased by 8.9%, primarily due to lower housing starts. Specialty building products and services, however, saw a 3.6% increase, indicating some resilience in this category.
• Geographical Performance: The company operates approximately 585 locations across 43 states in the United States, organized into three geographical divisions: East, Central, and West. These divisions are aggregated into one reportable segment due to similar economic characteristics and customer bases.
• Future Outlook: The company believes the long-term outlook for the housing industry is positive, despite current macroeconomic uncertainties such as interest rate fluctuations and inflation. The company is well-positioned to capture market share as industry conditions improve, focusing on working capital management and maintaining operational capacity to support future growth.

SEC Filing: Builders FirstSource, Inc. [ BLDR ] - 10-Q - Oct. 30, 2025