Builders FirstSource (BLDR) Q2 2025 Earnings
Reported Jul 31, 2025 at 7:00 AM ET · SEC Source
Q2 25 EPS
$2.38
BEAT +1.57%
Est. $2.34
Q2 25 Revenue
$4.23B
MISS 1.02%
Est. $4.28B
vs S&P Since Q2 25
-49.3%
TRAILING MARKET
BLDR -31.5% vs S&P +17.8%
Market Reaction
Did BLDR Beat Earnings? Q2 2025 Results
Builders FirstSource delivered a mixed second quarter, edging past earnings expectations while falling short on revenue as a deepening housing slowdown weighed heavily on results. Adjusted diluted EPS came in at $2.38, ahead of the $2.34 consensus es… Read more Builders FirstSource delivered a mixed second quarter, edging past earnings expectations while falling short on revenue as a deepening housing slowdown weighed heavily on results. Adjusted diluted EPS came in at $2.38, ahead of the $2.34 consensus estimate by 1.57%, but net sales slid 5.0% year-over-year to $4.23 billion, short of the $4.28 billion analysts had expected. The core story was a housing market under significant strain, with Single-Family sales contracting 9.1% and Multi-Family plunging 23.3%, driving an 8.5% decline in organic net sales that no amount of acquisition-led growth could fully offset. Gross margin compressed 210 basis points to 30.7%, while adjusted EBITDA fell 24.4% to $506.10 million, pressuring shares by roughly 9% following the report. Looking ahead, management guided full-year 2025 net sales of $14.80 billion to $15.60 billion and adjusted EBITDA of $1.50 billion to $1.70 billion, assuming Single-Family starts decline 10% to 12% and Multi-Family starts fall mid-teens, signaling continued caution through year-end.
Key Takeaways
- • Core organic net sales declined 8.5%, driven by Single-Family down 9.1% and Multi-Family down 23.3%
- • R&R/Other increased 3.0%
- • Commodity deflation of 1.5% reduced net sales
- • Acquisitions contributed 5.0% growth to net sales
- • Gross margin compressed 210 basis points to 30.7% due to Single- and Multi-Family margin normalization and below-normal starts
- • SG&A increased 1.5% driven by acquired operations and ERP implementation costs
- • Net interest expense increased $20 million to $72 million due to higher average debt balances
- • Productivity savings of approximately $5 million delivered in Q2, $22 million year to date
BLDR YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
BLDR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our durable results in the second quarter reinforce the advantage of our differentiated product offerings and commitment to execution. In this challenging market environment, we are prioritizing what's within our control—serving customers with excellence, leveraging technology, and managing the business with discipline. We remain focused on building for the future through investments in value-added solutions, digital capabilities, and operational efficiency. These efforts are strengthening our position in the industry and laying the foundation to emerge stronger and accelerate delivery of long-term shareholder value as market conditions improve.”
— Peter Jackson, Q2 2025 Earnings Press Release
BLDR Earnings Trends
BLDR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
BLDR EPS Trend
Earnings per share: estimate vs actual
BLDR Revenue Trend
Quarterly revenue: estimate vs actual
BLDR Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.37 | $0.27 | -27.61% | $3.29B | +3.58% |
| Q4 25 MISS FY | $1.28 | $1.12 | -12.25% | $3.36B | -2.87% |
| FY Full Year | — | $6.89 | — | $15.19B | — |
| Q3 25 BEAT | $1.72 | $1.88 | +9.06% | $3.94B | +2.48% |
| Q2 25 BEAT | $2.34 | $2.38 | +1.57% | $4.23B | -1.02% |