GMS Inc. (NYSE:GMS) Q3 2024 Earnings Call Transcript

Scott Deakin: And then the cross-selling ramp up of Wallboard and Complementary will take a little bit of time to get that foothold in place as well.

Mike Dahl: That’s very helpful. Thank you.

Operator: Thank you. The final question comes from the line of Zach Pacheco with Loop Capital. Please go ahead.

Zach Pacheco: Hey, thanks for taking my questions this morning. I was wondering what are your current expectations on how long the multifamily backlog will last before any slowdown, if multifamily begins to show up in wallboard demand?

John Turner: Like calendar third quarter, I’d expect to see things start to soften.

Zach Pacheco: Okay. Understood. And then I know you said closing in a couple of days here, but just wanted to ask on the M&A pipeline, if you provide any more color on maybe improvement in seller expectations or kind of just your guys’ sentiment moving forward? Thanks.

John Turner: I mean, there sellers’ expectations vary depending on the market and the strategic nature of it to us, et cetera. But our pipeline is solid with our normal kind of range of multiples. And this one is unique because of that Bronx location. Really strong in Canada, where we’re spending a lot of time and energy up there, really building our leadership position, but also very strong here in the US as well. So no shortage of opportunity when it comes to that.

Zach Pacheco: Understood. I appreciate it.

John Turner: Thanks.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.

John Turner: Thanks, everybody.