In This Article:
Builders FirstSource, Inc. (NYSE:BLDR) Q4 2023 Earnings Call Transcript February 22, 2024
Builders FirstSource, Inc. beats earnings expectations. Reported EPS is $3.55, expectations were $2.7. Builders FirstSource, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good day. And welcome to the Builders FirstSource Fourth Quarter 2023 and Full Year Earnings Conference Call. Today’s call is scheduled to last about one hour, including remarks by management and the question-and-answer session. [Operator Instructions] I’d now like to turn the call over to Heather Kos, Senior Vice President, Investor Relations for Builders FirstSource. Please go ahead.
Heather Kos: Good morning. And welcome to our third quarter earnings call. With me on the call are Dave Rush, our CEO; and Peter Jackson, our CFO. The earnings press release and investor presentation are available on our website at investors.bldr.com. We will refer to the investor presentation during our call. The results discussed today include GAAP and non-GAAP results adjusted for certain items. We provide these non-GAAP results for informational purposes and they should be considered in isolation from the most directly comparable GAAP measures. You can find the reconciliation of these non-GAAP measures to the corresponding GAAP measures where applicable and a discussion of why we believe they can be useful to investors in our earnings press release, SEC filings and presentation.
Our remarks in the press release, presentation and on this call contain forward-looking and cautionary statements within the meaning of the Private Securities Litigation Reform Act and projections of future results. Please review the forward-looking statements section in today’s press release and in our SEC filings for various factors that could cause our actual results to differ from forward-looking statements and projections. With that, I’ll turn the call over to Dave.
David Rush: Thank you, Heather. Good morning, everyone, and thanks for joining our call. I'm proud of our full-year results. I'm proud of our full-year results, which demonstrate the strength of our broad product portfolio and continued execution by our team members. Despite a challenging operating environment in 2023, which saw significant reduction in single-family starts, we delivered resilient results. As promised, we delivered a double-digit EBITDA margin in the high teens along with robust free cash flow. We accomplished this through operational rigor and by closely partnering with our customers to help address their pain points through the use of our value-added solutions. Our results in 2023 further validate our strategy to be the easiest to do business with across the industry.