Builders FirstSource Plans $1B Stock Buyback

Builders FirstSource, Inc. (NYSE:BLDR) has authorized a share repurchase plan of up to $1 billion of its common stock.
As of August 11, 2021, the company had ~$417 million cash on hand, consistent with recent guidance of $1.4 billion - $1.6 billion of free cash flow in 2021.
Price Action: BLDR shares are trading higher by 3.50% at $52.00 during the premarket session on Thursday.