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Builders FirstSource tops Street 4Q forecasts

DALLAS (AP) _ Builders FirstSource Inc. (BLDR) on Tuesday reported fourth-quarter net income of $6.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Dallas-based company said it had net income of 6 cents. Earnings, adjusted for non-recurring costs, came to 16 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The construction supply company posted revenue of $1.55 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.5 billion.

For the year, the company reported net income of $144.3 million, or $1.27 per share, swinging to a profit in the period. Revenue was reported as $6.37 billion.

Builders FirstSource shares have increased 18 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.94, a climb of 63 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLDR at https://www.zacks.com/ap/BLDR


Keywords: Builders FirstSource, Earnings Report