Feb 20 (Reuters) - Builders FirstSource Inc ( BLDR )
reported quarterly revenue below expectations on Thursday,
pressured by fewer constructions of single- and multi-family
homes as well as lower selling prices for building materials.
Shares of the Irving, Texas-based construction supplies
company were down 3.7% in trading before the bell.
Many potential homebuyers remain reluctant to buy due to
still-high mortgage rates, with the benchmark 30-year fixed-rate
mortgage hovering around 6.9% as of December-end.
The company reported fourth-quarter net sales of $3.82
billion, down 8% from a year ago. Analysts had on average
expected a revenue of $3.90 billion, according to data complied
by LSEG.
The sales decrease was primarily driven by lower core
organic sales of 8.8% and commodity deflation of 3.1%, the
company said.
Builders FirstSource ( BLDR ), a supplier of building materials and
manufactured components to homebuilders, subcontractors,
remodelers and individual consumers, operates in about 570
locations across 43 states in the United States, according to
its latest annual report.
The company expects 2025 net sales between $16.5 billion and
$17.5 billion, the mid-point of the range falling below
analysts' expectations of $17.32 billion.
It reported adjusted profit of $2.31 per share in the
quarter ended December 31, compared with $3.55 per share a year
ago.