GMS Clocks 24% Top-Line Growth In Q2, Surpass Street View

  • GMS Inc GMS reported second-quarter FY23 sales growth of 24.4% year-on-year to $1.43 billion, beating the consensus of $1.36 billion.
  • Gross profit jumped 24.9% Y/Y to $464.5 million, and the margin expanded 20 basis points to 32.5%.
  • Selling, general and administrative expenses rose 21% to $278.9 million.
  • Operating margin was 10.7%, and the operating income for the quarter rose 37% to $153.3 million.
  • Adjusted EBITDA increased 30.7% Y/Y to $195.5 million.
  • Adjusted EPS of $2.79 beat the analyst consensus of $2.34.
  • The company held $124.2 million in cash and equivalents as of October 31, 2022. Cash provided by operating activities totaled $107.3 million, and the free cash flow was $96.5 million.
  • "A significant backlog of homes under construction, continued strength in multi-family, and improving levels of commercial activity helped drive exceptional results for our fiscal second quarter," said CEO John C. Turner, Jr.
  • Price Action: GMS shares are trading higher by 5.41% at $52.05 in premarket on the last check Thursday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!