Builders FirstSource Launches $600M Offering

Builders FirstSource, Inc. has announced the launch of a $600 million offering of unsecured senior notes due 2034. The company intends to use the net proceeds from the offering to repay indebtedness outstanding under the ABL facility and for general corporate purposes.

In the previous period, Builders FirstSource reported a revenue of $12.6 billion, representing a 17% increase from the prior year. Gross profit margin was reported at 26.8%, a decrease of 1.2% from the previous period. The company's operating income was $1.2 billion, marking a 19% increase from the prior year. Net income attributable to common stockholders stood at $699 million, reflecting a 15% increase from the previous period.

Additionally, the company's adjusted EBITDA was reported at $1.8 billion, signifying a 21% increase year over year. The diluted earnings per share were $2.35, representing a 14% rise from the prior year. Cash and cash equivalents at the end of the period totaled $852 million, while total debt amounted to $3.6 billion. Moreover, the company's total assets were reported at $10.9 billion, with total liabilities of $7.3 billion.

Builders FirstSource operates in 43 states with approximately 570 locations and has a market presence in 48 of the top 50 and 89 of the top 100 MSAs, providing geographic diversity and balanced end market exposure. The company offers an integrated homebuilding solution, providing manufacturing, supply, delivery, and installation of a full range of structural and related building products.

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