11:14 AM EST, 03/06/2025 (MT Newswires) -- (Updates with recent share movement in the headline and first paragraph.)

GMS (GMS) shares dropped 10% in recent Thursday trading after the company reported fiscal Q3 results that fell short of market expectations.

The distributor of specialty building products reported fiscal Q3 adjusted earnings Thursday of $0.92 per diluted share, down from $1.70 a year earlier.

Analysts polled by FactSet expected $1.40.

Net sales for the quarter ended Jan. 31 were $1.26 billion, roughly unchanged compared with a year earlier.

Analysts surveyed by FactSet expected $1.29 billion.

Price: 70.68, Change: -8.13, Percent Change: -10.32