GMS Inc. reports Q4 adjusted EPS $2.11, consensus $1.89

Reports Q4 revenue $1.30B, consensus $1.27B. “GMS‘s Q4 results marked a solid finish to a year of record full-year levels of net sales, net income, adjusted EBITDA and cash flow generation,” said CEO John Turner, Jr. “Our scale and balanced mix of products and customers enabled us to capitalize on strong demand in multi-family residential and continued growth in commercial…During Q4, we were pleased to announce the completion of two acquisitions, a new greenfield yard location and two new AMES store openings, all of which grow and strengthen our footprint, scale and product offerings. We ended the year with a strong balance sheet, which we believe will enable us to continue executing our strategy and to invest in key growth and expansion opportunities. Looking ahead, given our scale, expertise, breadth of product offerings and commitment to providing outstanding service, we believe we are well-positioned to navigate the current slowdown in single-family activity and the resultant shift in demand toward multi-family and commercial projects. Moreover, given the limited inventory of existing homes and the structural need for residential housing, we are also encouraged by recent improvement in starts activity and builder sentiment as we look later into our year.”