Why Builders Firstsource Stock Jumped Nearly 13% in Early Trading Today
Shares of Builders Firstsource (NYSE: BLDR), which provides building products and services to the professional construction market, rose by as much as 13% in the first 90 minutes or so of trading on Thursday. By 11 a.m. EDT, the stock was still holding onto a roughly 11% gain. The big news was the company's third-quarter earnings release, which it delivered before the market opened.
Builders Firstsource set three records this quarter, hitting high water marks for net income, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margin, and free cash flow. When that's the first bullet point of a company's quarterly report, investors have a right to get excited.
Digging deeper into the numbers, net sales increased by 62.7% year over year, adjusting for acquisitions. Gross profit increased by just over 100%. And adjusted EBITDA increased by nearly 245%.
Source Fool.com
