07:23 AM EDT, 08/06/2024 (MT Newswires) -- Builders FirstSource ( BLDR ) reported Q2 adjusted earnings Tuesday of $3.50 per diluted share, down from $3.89 a year earlier.

Analysts polled by Capital IQ expected $3.08.

Net sales for the quarter ended June 30 were $4.46 billion, compared with $4.53 billion a year earlier.

Analysts polled by Capital IQ expected $4.48 billion.

The company said it now expects full-year net sales of $16.4 billion to $17.2 billion, down from the previous range of $17.5 billion to $18.5 billion. Analysts polled by Capital IQ expect $17.64 billion.

In a separate statement, Builders FirstSource ( BLDR ) said its board approved a $1 billion share buyback program.

Shares of Builders FirstSource ( BLDR ) were down over 3% premarket.

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