Builders FirstSource (BLDR) Q1 2026 Earnings
Reported Apr 30, 2026 at 7:00 AM ET · SEC Source
Q1 26 EPS
$0.27
MISS 27.61%
Est. $0.37
Q1 26 Revenue
$3.29B
BEAT +3.58%
Est. $3.17B
vs S&P Since Q1 26
+0.3%
BEATING MARKET
BLDR +4.0% vs S&P +3.6%
Market Reaction
Did BLDR Beat Earnings? Q1 2026 Results
Builders FirstSource posted a bruising first quarter for fiscal 2026, missing adjusted earnings estimates by a wide margin even as its top line came in ahead of expectations, a split result that sent shares to a 52-week low. Adjusted diluted EPS of $… Read more Builders FirstSource posted a bruising first quarter for fiscal 2026, missing adjusted earnings estimates by a wide margin even as its top line came in ahead of expectations, a split result that sent shares to a 52-week low. Adjusted diluted EPS of $0.27 fell well short of the $0.37 consensus, a 27.61% miss, while revenue of $3.29 billion edged 3.58% above estimates but still represented a steep 10.1% decline from the year-ago period. The core culprit was a housing market under pressure: an 8.3% drop in organic net sales, led by an 11.1% decline in single-family volumes, compressed gross margin by 220 basis points to 28.3% and drove adjusted EBITDA down 42.1% to $213.80 million. On a GAAP basis, the company swung to a net loss of $47.41 million from net income of $96.30 million a year earlier. Looking ahead, management guided full-year 2026 net sales of $14.60 billion to $15.60 billion and adjusted EBITDA of $1.10 billion to $1.50 billion, assuming single-family and multi-family starts each decline in the low-single digits and commodity prices hold in the $390 to $410 per thousand board feet range.
Key Takeaways
- • Lower housing starts environment drove 10.1% net sales decline
- • Core organic net sales declined 8.3%, with Single Family down 11.1%
- • Commodity deflation of 3.3% weighed on revenue
- • Acquisitions contributed 1.5% net sales growth
- • Gross margin compressed 220 basis points to 28.3%
- • Higher net interest expense increased $9.5 million to $74.4 million due to higher average debt balances
- • Reduced operating leverage increased SG&A as a percentage of sales by 240 basis points
- • Approximately $6 million in productivity savings from operational excellence initiatives
BLDR Forward Guidance & Outlook
For full-year 2026, Builders FirstSource expects net sales of $14.6 billion to $15.6 billion, gross profit margin of 27.5% to 29%, Adjusted EBITDA of $1.1 billion to $1.5 billion, Adjusted EBITDA margin of 7.5% to 9.6%, and free cash flow of approximately $0.4 billion to $0.5 billion (assuming commodity prices of $390–$410 per mbf). Key assumptions include single-family starts down low-single digits, multi-family starts down low-single digits, R&R down 1%, acquisitions adding approximately 1% to net sales, capex of $225–$275 million, interest expense of $275–$285 million, effective tax rate of 20%–22%, and D&A of $525–$575 million. The company expects $50–$70 million in productivity savings from operational excellence and supply chain initiatives.
BLDR YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
BLDR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter results reflect the adaptability of our operating model as we delivered strong strategic share growth in a weak housing market. Across the organization, we remain focused on the factors within our control, including serving our customers, expanding our differentiated portfolio of value-added solutions, and leveraging technology to accelerate growth and drive operational excellence. This disciplined approach continues to strengthen our leading position as a trusted, full-service partner to homebuilders.”
— Peter Jackson, Q1 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
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% |