BLDR earnings analysis
What we found in BLDR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Builders FirstSource reported disappointing Q1 2026 results with net sales of $3.3 billion, down 10.1% year-over-year and below estimates. The company reported a diluted EPS loss of $(0.43) versus an expected profit of $0.38, indicating significant challenges amid a declining housing market. Gross margin also decreased to 28.3%, reflecting adverse market conditions.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Drop
- Net sales were $3.3 billion, down 10.1% year-over-year from $3.7 billion.
- Negative Diluted EPS
- Diluted EPS was $(0.43), missing expected EPS of $0.38.
- Decreased Gross Margin
- Gross margin fell to 28.3% from 30.5% year-over-year.
- Cash Flow Decline
- Operating cash flow was $87.5 million, down from $132.3 million year-over-year.
- Increased Interest Expense
- Interest expense rose to $74.4 million, up from $64.9 million in the prior year.
- Share Repurchase Activity
- The company repurchased 3.3 million shares at an average price of $92.25, totaling $302.9 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Negative Net Income
- The company reported a net loss of $46.0 million compared to $95.0 million of net income a year earlier.
- Cash Flow Pressure
- Operating cash flow decreased to $87.5 million from $132.3 million, impacted by lower net income.
- Higher Interest Costs
- Interest expense increased by $9.5 million, rising pressure on profitability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.43
- Gross margin
- 28.3%
- Operating margin
- 0.5%
What they said about what is next.
Full-year 2026 net sales guidance reflects a challenging outlook in housing starts.
The filing reads worse than the one before it.
What came before.
- 10-K · February 17, 2026
- Builders FirstSource positions itself as a scale-driven, vertically integrated supplier to professional homebuilders, emphasizing manufactured components, value-added services and digital capabilities (Paradigm) to…
- 10-Q · October 30, 2025
- Builders FirstSource reported Q3 net sales of $3,941,190 (in thousands) and diluted EPS of $1.10; revenue and profitability declined versus the year-ago quarter as gross margin contracted to 30.4% and income from…
- 10-Q · July 31, 2025
- Builders FirstSource reported Q2 net sales of $4,234,064,000 and diluted EPS of $1.66, both down materially versus the year‑ago quarter. Gross margin contracted to 30.7% and operating income fell to $311,287,000 as…
- 10-Q · May 1, 2025
- Builders FirstSource reported Q1 net sales of $3,657,496,000 (vs $3,891,352,000 a year ago), with gross margin declining to $1,115,241,000 (30.5% of sales) and income from operations falling to $184,441,000 (5.0%…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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