Builders FirstSource (BLDR) stock plummeted 5.01% on Friday in pre-market trading, following the release of its Q4 2024 earnings results that missed analyst expectations and showed a sales decline.
According to the earnings report, Builders FirstSource reported revenue of $16.4 billion for the full year 2024, down 4.1% from the previous year. The company's net income also dropped by 30% to $1.08 billion, with earnings per share (EPS) of $9.13, missing analyst estimates by 2.1%.
The decline in sales and profitability can be attributed to the broader weakness in the residential construction market, as the company noted a challenging environment for home building. Additionally, analysts at firms like D.A. Davidson, RBC Capital, and Raymond James lowered their price targets on BLDR stock, citing concerns over the company's performance and outlook.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.