GMS Inc. Posts Strong Results As The Housing Backlog Drives Earnings
GMS beat earnings estimates by 12%, with earnings-per-share (EPS) coming in at $2.09.Net came in at $1.288 billion, an increase of 38% y-o-y.Backlogs continue to provide support to demand.GMS Inc. (NYSE:GMS) is a leading distributor of construction products and provides commercial and residential building supplies. GMS posted record revenue, EBITDA, and net income for the quarter on the back of strong demand for building supplies. Strong residential demand continued to drive demand for materials as revenue increased by 38% for the year, and gross margins came in at 40%. The company recorded a ...