Guidance
← Отчётные звонки
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Тон
AI
Капзатраты
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BLDR
FY2026 Q1
Понижен
Отчётный звонок Builders FirstSource, Inc.
Вывод Buzzberg
Revised 2026 guidance reflects weaker housing market and affordability pressures.
BLDR reported a weak Q1 2026 with significant margin compression and revenue decline. Management revised full-year guidance downward, citing a weaker housing market, lower home size/complexity, and cost inflation. They are closing facilities and pursuing cost cuts to offset headwinds. Net sales decreased 10% to $3.3B, driven by a decline in core organic sales and commodity deflation.
Вывод Buzzberg Revised 2026 guidance reflects weaker housing market and affordability pressures. BLDR reported a weak Q1 2026 with significant margin compression and revenue decline. Management revised full-year guidance downward, citing a weaker housing market, lower home size/complexity, and cost inflation. They are closing facilities and pursuing cost cuts to offset headwinds. Net sales decreased 10% to $3.3B, driven by a decline in core organic sales and commodity deflation. Читать полный анализСвернуть анализ
BLDR reported a weak Q1 2026 with significant margin compression and revenue decline. Management revised full-year guidance downward, citing a weaker housing market, lower home size/complexity, and cost inflation. They are closing facilities and pursuing cost cuts to offset headwinds. Net sales decreased 10% to $3.3B, driven by a decline in core organic sales and commodity deflation.
- Adjusted EBITDA was $214M, down 42%, and adjusted EPS was $0.27, down 82%.
- Full-year guidance was lowered: revenue to $14.6-15.6B, EBITDA to $1.1-1.5B, and FCF to $400-500M.
- Management is taking $100M in cost actions, including facility consolidations (21 so far in 2026).
Выручка$3.2871B-2% к/к
EPS$0.27Факт
Валовая маржа28.26%Факт
Операционная маржа0.55%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Market Share
Q1 share gains driven by bundling and value-added offerings.
Cost Actions
Cost actions of $100M underway; $13M realized in Q1.
Показать ещё 3 тезиса
Margins
Specialty products and 'other' category saw unexpected margin pressure.
Balance Sheet
Management confident in balance sheet despite leverage above target.
M&A
M&A remains key growth driver; 41 acquisitions since 2021.
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $3.2871B | -2% к/к |
| EPS | $0.27 | Факт |
| Валовая маржа | 28.26% | Факт |
| Операционная маржа | 0.55% | Факт |
| Свободный денежный поток | $0.0407B | Факт |
| Капзатраты | $0.0467B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Свободный денежный поток | FY2026 | 400–500 | 450 | Понижен |
| Валовая маржа | FY2026 | 27.5%–29% | 28.25% | Понижен |
| Операционная маржа | FY2026 | $1.1B–$1.5B | $1.3B | Понижен |
| Выручка | FY2026 | $14.6B–$15.6B | $15.1B | Понижен |
| Выручка | FY2026 Q2 | $3.75B–$4.05B | $3.9B | Обозначен |
AI, капзатраты и спрос
Оценка менеджмента
Cautiously Confident
Management acknowledged a weak housing market and headwinds, but reaffirmed their strategic focus, cost actions, and ability to capture share and drive long-term value.
Оценка AI от менеджмента
Management highlighted their digital platform, which processed nearly $800 million of quotes in Q1, and they plan to roll out a next-generation digital solution with embedded AI capabilities later this year to support builders across the home building journey, including four integrated hubs accessible through myBLDR.com.
Инвестиции и мощности
Capital expenditures were $45 million in Q1. The company is investing in technology, automation, and AI, and continues to execute a disciplined capital allocation strategy focused on organic growth, M&A, and shareholder returns.
Внешние сигналы
Альфа цепочки поставок · 5
The company is seeing margin compression in 'specialty products' and 'other' categories, which are a long tail of products, and part of this is due to competition and price-cost dynamics.
Доказательства
“Where I think we were surprised is in the specialty products and the other categories.”
The company noted that commodity prices have pushed higher since mid-December, and it plans to pass through cost increases, but margin expansion will be muted due to timing.
Доказательства
“commodity prices have pushed higher since mid-December, driven by rising input costs”
The company is closing 21 facilities in 2026 after closing 55 in the prior two years, indicating ongoing capacity rationalization in a weak market.
Доказательства
“we have consolidated 21 facilities, following the consolidation of 55 total facilities over the prior two years”
The company is seeing share gains by bundling lumber with value-added products, but this is causing a negative mix shift in gross margins.
Доказательства
“we picked up a little bit more on the lumber and sheet, which is a lower margin category, which had a little mix impact.”
The company's first quarter results showed a significant drop in 'value per start' (down 10% vs 2019), and the mix of homes is shifting to smaller, simpler units, which is a structural headwind to revenue.
Доказательства
“We believe a comparable start has declined in value by 10% on average since 2019.”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 0. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.