Builders FirstSource authorizes $1B share repurchase plan

Builders FirstSource announced that on August 5 its Board of Directors authorized the repurchase of up to $1B of the Company’s outstanding shares of common stock. “After completing nearly $1 billion of share repurchases in the second quarter, the Board’s announcement of a new share repurchase authorization reflects our strong conviction in the Company’s strategy, operating model, and fortress balance sheet underpinned by robust free cash flow generation, especially considering our confidence in the strength of the housing industry due to being underbuilt and favorable demographic trends,” said Paul S. Levy, Chairman of Builders FirstSource. “The Company’s industry-leading value-added solutions and digital tools, operational excellence, and prudent capital deployment will continue to compound growth and value for our shareholders.”