May 1 (Reuters) - Builders FirstSource ( BLDR ) on
Thursday trimmed its annual revenue forecast, after reporting a
decline in first-quarter profit and sales due to persistently
weak housing construction as well as affordability issues.
Elevated mortgage rates and tariff-driven macroeconomic
uncertainty have prompted potential customers to reconsider
buying homes, leading to suppressed demand for new houses.
Shares of the Irving, Texas-based company, which
supplies building materials and products for home construction,
were down 2.4% in morning trading following the results.
It forecast 2025 net sales between $16.05 billion and $17.05
billion, compared with a prior view of $16.5 billion to $17.5
billion.
Builders FirstSource ( BLDR ) expects its full-year single-family
starts to be down mid-single digits and multi-family starts down
mid-teens.
The company's adjusted profit came in $1.51 per share in the
three months ended March 31, below $2.65 per share a year ago.
However, the quarterly profit surpassed analysts' average
estimate of $1.37 per share, according to data compiled by LSEG.
The building solutions provider's first-quarter net sales
fell 6% to $3.66 billion from a year ago, hurt by one fewer
selling day and commodity deflation.