Thu, Jun 20, 8:48 PM (79 days ago)
**Abstract/Summary:** GMS Inc. reported a 3.2% increase in net sales for the fiscal year ended April 30, 2024, reaching $5.5 billion, primarily driven by acquisitions, strong multi-family residential construction, and commercial demand. Net income decreased by 17.1% to $276.1 million, impacted by higher operating expenses, increased state taxes, and higher interest expenses. Adjusted EBITDA fell by 7.5% to $615.5 million, with a margin decline to 11.2%. Key acquisitions included Jawl Lumber Corporation, AMW Construction Supply, and Kamco Supply Corporation, enhancing geographic and product offerings. The company expanded its share repurchase program to $250 million, repurchasing $115.6 million in fiscal 2024. GMS maintains $655.9 million in available borrowing capacity under its ABL Facility, ensuring liquidity for future operations and growth.