5 Companies Drawing Attention on Quarterly Reports

3. Builders FirstSource, Inc. (NYSE:BLDR)

Number of Hedge Fund Holders: 59

Shares of Builders FirstSource, Inc. (NYSE:BLDR) closed higher on Tuesday, May 10, 2022, after its first-quarter profit rose sharply on a year-over-year basis. The Dallas-based manufacturer of building materials earned $3.90 per share on an adjusted basis, significantly higher than $1.42 per share in the year-ago period.

Revenue came in at $5.68 billion, up 36.1 percent over the same period of 2021. Analysts were expecting Builders FirstSource, Inc. (NYSE:BLDR) to report earnings of $1.98 per share on revenue of $4.60 billion.

Speaking on the results, CFO Peter Jackson said in a statement:

“We remain committed to a balanced approach to capital deployment through 2022 and beyond as we leverage our strong cash flow to pursue additional accretive investments in our operations while executing against our share repurchase authorizations. We expect to generate free cash flow of $2.0 billion to $2.4 billion in 2022, reflecting disciplined working capital management and our ability to capitalize on our industry-leading product portfolio.”