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EX - 99.1 2 d331655dex991.htm EX - 99.1 For Immediate Release Builders FirstSource Reports Record First Quarter 2021 Results Core Organic Sales Growth over 20 % Record Adjusted EBITDA & Adjusted EBITDA Margin BMC Integration and Cost Savings Ahead of Plan Acquired John's Lumber , Premier Building Distributor Serving Michigan First Quarter 2021 BFS Highlights ( includes BMC in Q1 2021 and not in Q1 2020 ) . All Year - Over - Year Comparisons Unless Otherwise Noted : May 6th , 2021 ( Dallas , TX ) – Builders FirstSource , Inc. ( Nasdaq : BLDR ) today reported its results for the first quarter ended March 31 , 2021. In January 2021 , the Company closed the BMC all - stock merger creating the nation's premier supplier of building materials and services . ● First Quarter 2021 Highlights Compared to Combined Non - GAAP Pro Forma First Quarter 2020 ● Builders FirstSource Exhibit 99.1 Net sales of $ 4.2 billion for the quarter increased 133.6 % driven by the merger with BMC , commodity inflation , and strong organic growth Gross profit of $ 1.1 billion increased 129.8 % driven by the merger with BMC , commodity inflation , and strong organic growth Net income of $ 172.6 million , or $ 0.83 per diluted share , and adjusted net income of $ 229.0 million , or $ 1.10 per diluted share Net sales of $ 4.2 billion for the quarter increased 54.1 % compared to the combined pro forma prior year period Core organic sales increased 22.0 % , excluding commodity and acquisition impacts Commodity inflation increased net sales 31.3 % Acquisitions contributed to net sales growth of 2.4 % Gross profit of $ 1.1 billion increased 52.1 % compared to the combined pro forma prior year period As a percentage of net sales , SG & A decreased 270 basis points to 19.7 % Net income of $ 172.6 million , or $ 0.83 per diluted share , and adjusted net income of $ 229.0 million , or $ 1.10 per diluted share 1 Adjusted EBITDA increased 186.8 % to $ 455.2 million , driven by strong demand in the residential housing market , commodity value , and disciplined cost management Adjusted EBITDA margin increased 500 basis points to 10.9 % Strong quarter - end balance sheet with a net debt to LTM Adjusted EBITDA ratio of 1.2x and liquidity of $ 1.1 billion