Nov 5 (Reuters) - Building products supplier Builders

FirstSource Inc ( BLDR ) on Tuesday raised its forecast for

full-year gross profit margin and free cash flow, despite

weakness in sales, in anticipation of lower capital expenses

than previously estimated.

Shares of the company rose more than 6% in morning trade.

The company, which provides building materials and

components to homebuilders and developers, has been seeing sales

weakness for months, with higher borrowing costs leading to a

decline in construction of apartments in the U.S. this year.

Within its geographies, the company expects multifamily

starts to be down by 25% to 30% in 2024.

Builders FirstSource ( BLDR ) cut its full-year net sales forecast

range to $16.25 billion to $16.55 billion, from a prior range of

$16.4 billion to $17.2 billion.

Nonetheless, the Irving, Texas based company expects higher

full-year gross profit margins, now in the range of 32% to 33%,

up from its prior outlook of 31.5% to 32.5%.

It also expects free cash flow to be marginally higher.

Builders FirstSource ( BLDR ) reported third-quarter adjusted

earnings per share of $3.07, down from $4.24 per share last

year, but above analysts' average estimate of $2.98 per share,

according to data compiled by LSEG.