GMS Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2024
February 29, 2024 at 06:06 am EST
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GMS Inc. reported earnings results for the third quarter and nine months ended January 31, 2024. For the third quarter, the company reported sales was USD 1,258.35 million compared to USD 1,234.62 million a year ago. Net income was USD 51.91 million compared to USD 64.78 million a year ago. Basic earnings per share from continuing operations was USD 1.3 compared to USD 1.56 a year ago. Diluted earnings per share from continuing operations was USD 1.28 compared to USD 1.53 a year ago.
For the nine months, sales was USD 4,088.88 million compared to USD 4,025.15 million a year ago. Net income was USD 219.69 million compared to USD 257.4 million a year ago. Basic earnings per share from continuing operations was USD 5.44 compared to USD 6.11 a year ago. Diluted earnings per share from continuing operations was USD 5.35 compared to USD 6.01 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.