Q2 26 EPS
$1.17
MISS 7.52%
Est. $1.27
Q2 26 Revenue
$3.86B
MISS 1.42%
Est. $3.92B
vs S&P Since Q2 26
+5.0%
BEATING MARKET
BLDR +9.6% vs S&P +4.7%
Market Reaction
Did BLDR Beat Earnings? Q2 2026 Results
Builders FirstSource delivered a disappointing second quarter, missing on both the top and bottom lines as a sluggish housing market continued to weigh on results. Adjusted EPS of $1.17 fell short of the $1.27 consensus estimate by 7.52%, while net s… Read more Builders FirstSource delivered a disappointing second quarter, missing on both the top and bottom lines as a sluggish housing market continued to weigh on results. Adjusted EPS of $1.17 fell short of the $1.27 consensus estimate by 7.52%, while net sales of $3.86 billion trailed expectations by 1.42% and slid 8.8% year-over-year, reflecting a 7.0% drop in core organic net sales compounded by 2.7% in commodity deflation. The single most consequential pressure point was broad housing market weakness, which dragged Single Family volumes down 8.1% and pushed Adjusted EBITDA 34.9% lower to $329.30 million, with margins contracting 350 basis points to 8.5%. The company's stock has already shed roughly 13% year-to-date amid persistent affordability headwinds, and management's updated full-year 2026 guidance, calling for net sales of $14.00 billion to $14.80 billion and Adjusted EBITDA of $1.00 billion to $1.20 billion, reflects an expectation that Single Family starts within its geographies will decline mid- to high-single digits for the year.
Key Takeaways
- • Lower housing starts environment driving 8.8% net sales decline
- • Core organic net sales declined 7.0% with Single Family down 8.1%, Multi-Family down 9.7%, and R&R/Other down 1.8%
- • Commodity deflation of 2.7% negatively impacted revenue
- • Gross profit margin decreased 260 basis points to 28.1%
- • SG&A decreased 3.0% from lower variable compensation and cost-saving actions
- • IRS R&D settlement agreement drove income tax expense above pre-tax income
- • Approximately $28 million in productivity savings from operational excellence and supply chain initiatives
BLDR Forward Guidance & Outlook
For full-year 2026, Builders FirstSource expects net sales of $14.0 billion to $14.8 billion, gross profit margin of 27.5% to 28.5%, Adjusted EBITDA of $1.0 billion to $1.2 billion, Adjusted EBITDA margin of 7.1% to 8.1%, and free cash flow of approximately $0.4 billion to $0.5 billion (assuming average commodity prices of $390 to $410 per thousand board foot). Key assumptions include Single Family starts down mid- to high-single digits, Multi-Family starts down mid-single digits, and R&R activity down 1% within the company's geographies. Acquisitions completed within the last twelve months are expected to add approximately 1% net sales growth. Total capital expenditures are projected at $175 million to $225 million, interest expense at $280 million to $290 million, adjusted effective tax rate of 22% to 24%, and D&A of $580 million to $610 million. Productivity savings of $50 million to $70 million are expected for the full year.
BLDR YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
BLDR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Despite the ongoing housing market headwinds, our second quarter results were in line with our expectations and reflect the strength of our differentiated platform and the adaptability of our operating model. We remain focused on the factors within our control, including managing the business with discipline, and leveraging both our technology capabilities and our value-added solutions. This approach continues to strengthen our position as a trusted, full-service partner to homebuilders.”
— Peter Jackson, Q2 2026 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $1.27 | $1.17 | -7.52% | $3.86B | -1.42% |
| 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% |