GMS Inc. Reports Earnings Results for the Second Quarter and Six Months Ended October 31, 2023
December 07, 2023 at 06:00 am EST
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GMS Inc. reported earnings results for the second quarter and six months ended October 31, 2023. For the second quarter, the company reported sales was USD 1,420.93 million compared to USD 1,430.98 million a year ago. Net income was USD 80.96 million compared to USD 103.15 million a year ago. Basic earnings per share from continuing operations was USD 2 compared to USD 2.44 a year ago. Diluted earnings per share from continuing operations was USD 1.97 compared to USD 2.41 a year ago.
For the six months, sales was USD 2,830.53 million compared to USD 2,790.53 million a year ago. Net income was USD 167.79 million compared to USD 192.62 million a year ago. Basic earnings per share from continuing operations was USD 4.13 compared to USD 4.54 a year ago. Diluted earnings per share from continuing operations was USD 4.06 compared to USD 4.47 a year ago.
GMS Inc. is a specialty building products distributor. The Company, through its subsidiaries, operates a network of approximately 300 distribution centers with product offerings of wallboard, ceilings, steel framing, and complementary construction products. The Company also operates approximately 100 tool sales, rental, and service centers. Through these operations, the Company provides a selection of building products and solutions for its residential and commercial contractor customer base across the United States and Canada. It also provides automatic taping and finishing (ATF) tools and related products to the professional drywall finishing industry. The Company offers its customers complementary products, including tools and fasteners, insulation, external insulation and finishing systems (EIFS), stucco, lumber and other wood products, ready-mix joint compound, and safety products. The Company also distributes its products through e-commerce platforms.