Financial News
GMS Reports First Quarter Fiscal 2026 Results
Net Sales and Adjusted EBITDA Results Consistent With Expectations
GMS Inc. (NYSE: GMS), a leading North American specialty building products distributor, today reported financial results for the fiscal first quarter ended July 31, 2025.
GMS Inc. Condensed Consolidated Statements of Operations (Unaudited) (in thousands, except per share data) |
|||||||
|
Three Months Ended |
||||||
|
July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
Net sales |
$ |
1,414,332 |
|
|
$ |
1,448,456 |
|
Cost of sales (exclusive of depreciation and amortization shown separately below) |
|
977,807 |
|
|
|
996,893 |
|
Gross profit |
|
436,525 |
|
|
|
451,563 |
|
Operating expenses: |
|
|
|
||||
Selling, general and administrative |
|
314,379 |
|
|
|
315,152 |
|
Depreciation and amortization |
|
40,919 |
|
|
|
38,032 |
|
Total operating expenses |
|
355,298 |
|
|
|
353,184 |
|
Operating income |
|
81,227 |
|
|
|
98,379 |
|
Other (expense) income: |
|
|
|
||||
Interest expense |
|
(21,068 |
) |
|
|
(22,213 |
) |
Other income, net |
|
906 |
|
|
|
2,028 |
|
Total other expense, net |
|
(20,162 |
) |
|
|
(20,185 |
) |
Income before taxes |
|
61,065 |
|
|
|
78,194 |
|
Provision for income taxes |
|
17,505 |
|
|
|
20,946 |
|
Net income |
$ |
43,560 |
|
|
$ |
57,248 |
|
Weighted average common shares outstanding: |
|
|
|
||||
Basic |
|
38,064 |
|
|
|
39,542 |
|
Diluted |
|
38,629 |
|
|
|
40,226 |
|
Net income per common share: |
|
|
|
||||
Basic |
$ |
1.14 |
|
|
$ |
1.45 |
|
Diluted |
$ |
1.13 |
|
|
$ |
1.42 |
|
GMS Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except per share data) |
|||||||
|
July 31,
|
|
April 30,
|
||||
Assets |
|||||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
39,931 |
|
|
$ |
55,599 |
|
Trade accounts and notes receivable, net of allowances of $13,333 and $12,947, respectively |
|
879,287 |
|
|
|
835,888 |
|
Inventories, net |
|
583,801 |
|
|
|
586,191 |
|
Prepaid expenses and other current assets |
|
36,110 |
|
|
|
42,438 |
|
Total current assets |
|
1,539,129 |
|
|
|
1,520,116 |
|
Property and equipment, net of accumulated depreciation of $383,375 and $369,343, respectively |
|
531,047 |
|
|
|
524,008 |
|
Operating lease right-of-use assets |
|
328,972 |
|
|
|
325,977 |
|
Goodwill |
|
882,502 |
|
|
|
881,334 |
|
Intangible assets, net |
|
516,945 |
|
|
|
536,716 |
|
Deferred income taxes |
|
26,588 |
|
|
|
24,568 |
|
Other assets |
|
19,899 |
|
|
|
18,548 |
|
Total assets |
$ |
3,845,082 |
|
|
$ |
3,831,267 |
|
Liabilities and Stockholders’ Equity |
|||||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
396,249 |
|
|
$ |
431,494 |
|
Accrued compensation and employee benefits |
|
87,461 |
|
|
|
126,442 |
|
Other accrued expenses and current liabilities |
|
133,347 |
|
|
|
127,396 |
|
Current portion of long-term debt |
|
57,740 |
|
|
|
57,901 |
|
Current portion of operating lease liabilities |
|
53,717 |
|
|
|
54,325 |
|
Total current liabilities |
|
728,514 |
|
|
|
797,558 |
|
Non-current liabilities: |
|
|
|
||||
Long-term debt, less current portion |
|
1,255,900 |
|
|
|
1,206,445 |
|
Long-term operating lease liabilities |
|
288,464 |
|
|
|
279,373 |
|
Deferred income taxes, net |
|
76,035 |
|
|
|
76,483 |
|
Other liabilities |
|
44,347 |
|
|
|
51,228 |
|
Total liabilities |
|
2,393,260 |
|
|
|
2,411,087 |
|
Commitments and contingencies |
|
|
|
||||
Stockholders' equity: |
|
|
|
||||
Common stock, par value $0.01 per share, 500,000 shares authorized; 38,068 and 38,164 shares issued and outstanding as of July 31, 2025 and April 30, 2025, respectively |
|
381 |
|
|
|
381 |
|
Preferred stock, par value $0.01 per share, 50,000 shares authorized; 0 shares issued and outstanding as of July 31, 2025 and April 30, 2025 |
|
— |
|
|
|
— |
|
Additional paid-in capital |
|
184,712 |
|
|
|
189,216 |
|
Retained earnings |
|
1,316,076 |
|
|
|
1,272,516 |
|
Accumulated other comprehensive loss |
|
(49,347 |
) |
|
|
(41,933 |
) |
Total stockholders' equity |
|
1,451,822 |
|
|
|
1,420,180 |
|
Total liabilities and stockholders' equity |
$ |
3,845,082 |
|
|
$ |
3,831,267 |
|
GMS Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (in thousands) |
|||||||
|
Three Months Ended July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
Cash flows from operating activities: |
|
|
|
||||
Net income |
$ |
43,560 |
|
|
$ |
57,248 |
|
Adjustments to reconcile net income to net cash used in operating activities: |
|
|
|
||||
Depreciation and amortization |
|
40,919 |
|
|
|
38,032 |
|
Write-off and amortization of debt discount and debt issuance costs |
|
649 |
|
|
|
448 |
|
Equity-based compensation |
|
4,697 |
|
|
|
4,343 |
|
Loss on disposal of assets, net |
|
4 |
|
|
|
858 |
|
Deferred income taxes |
|
(2,650 |
) |
|
|
(1,681 |
) |
Other items, net |
|
1,631 |
|
|
|
2,288 |
|
Changes in assets and liabilities net of effects of acquisitions: |
|
|
|
||||
Trade accounts and notes receivable |
|
(43,108 |
) |
|
|
(36,373 |
) |
Inventories |
|
3,089 |
|
|
|
(20,640 |
) |
Prepaid expenses and other assets |
|
2,694 |
|
|
|
(3,320 |
) |
Accounts payable |
|
(35,320 |
) |
|
|
(10,644 |
) |
Accrued compensation and employee benefits |
|
(39,005 |
) |
|
|
(66,124 |
) |
Other accrued expenses and liabilities |
|
(8,104 |
) |
|
|
12,626 |
|
Cash used in operating activities |
|
(30,944 |
) |
|
|
(22,939 |
) |
Cash flows from investing activities: |
|
|
|
||||
Purchases of property and equipment |
|
(8,446 |
) |
|
|
(8,976 |
) |
Proceeds from sale of business and sale of assets |
|
1,267 |
|
|
|
1,218 |
|
Acquisition of businesses, net of cash acquired |
|
(1,444 |
) |
|
|
(118,461 |
) |
Cash used in investing activities |
|
(8,623 |
) |
|
|
(126,219 |
) |
Cash flows from financing activities: |
|
|
|
||||
Repayments on revolving credit facility |
|
(462,165 |
) |
|
|
(378,641 |
) |
Borrowings from revolving credit facility |
|
508,253 |
|
|
|
468,864 |
|
Payments of principal on long-term debt |
|
(1,247 |
) |
|
|
(1,247 |
) |
Payments of principal on finance lease obligations |
|
(12,686 |
) |
|
|
(10,839 |
) |
Repurchases of common stock |
|
(12,852 |
) |
|
|
(46,609 |
) |
Proceeds from exercises of stock options |
|
809 |
|
|
|
555 |
|
Proceeds from issuance of stock pursuant to employee stock purchase plan |
|
3,795 |
|
|
|
3,207 |
|
Cash provided by financing activities |
|
23,907 |
|
|
|
35,290 |
|
Effect of exchange rates on cash and cash equivalents |
|
(8 |
) |
|
|
892 |
|
Decrease in cash and cash equivalents |
|
(15,668 |
) |
|
|
(112,976 |
) |
Cash and cash equivalents, beginning of period |
|
55,599 |
|
|
|
166,148 |
|
Cash and cash equivalents, end of period |
$ |
39,931 |
|
|
$ |
53,172 |
|
Supplemental cash flow disclosures: |
|
|
|
||||
Cash paid for income taxes |
$ |
6,448 |
|
|
$ |
2,881 |
|
Cash paid for interest |
|
23,646 |
|
|
|
26,730 |
|
GMS Inc. Net Sales by Product Group (Unaudited) (dollars in thousands) |
|||||||||||
|
Three Months Ended |
||||||||||
|
July 31, 2025 |
|
% of Total |
|
July 31, 2024 |
|
% of Total |
||||
|
|
|
|
|
|
|
|
||||
Wallboard |
$ |
556,393 |
|
39.3 |
% |
|
$ |
587,929 |
|
40.6 |
% |
Ceilings |
|
220,929 |
|
15.6 |
% |
|
|
207,156 |
|
14.3 |
% |
Steel framing |
|
196,553 |
|
13.9 |
% |
|
|
209,858 |
|
14.5 |
% |
Complementary products |
|
440,457 |
|
31.1 |
% |
|
|
443,513 |
|
30.6 |
% |
Total net sales |
$ |
1,414,332 |
|
|
|
$ |
1,448,456 |
|
|
||
GMS Inc. Net Sales and Organic Sales by Product Group (Unaudited) (dollars in millions) |
|||||||||||||||
|
Net Sales |
|
|
Organic Sales |
|
||||||||||
|
Three Months Ended July 31, |
|
|
Three Months Ended July 31, |
|
||||||||||
|
2025 |
|
2024 |
Change |
|
2025 |
|
2024 |
Change |
||||||
Wallboard |
$ |
556.4 |
|
$ |
587.9 |
(5.4 |
)% |
|
$ |
547.7 |
|
$ |
587.9 |
(6.8 |
)% |
Ceilings |
|
220.9 |
|
|
207.2 |
6.6 |
% |
|
|
219.7 |
|
|
207.2 |
6.1 |
% |
Steel framing |
|
196.5 |
|
|
209.9 |
(6.3 |
)% |
|
|
192.6 |
|
|
209.9 |
(8.2 |
)% |
Complementary products |
|
440.5 |
|
|
443.5 |
(0.7 |
)% |
|
|
417.6 |
|
|
443.5 |
(5.8 |
)% |
Total net sales |
$ |
1,414.3 |
|
$ |
1,448.5 |
(2.4 |
)% |
|
$ |
1,377.6 |
|
$ |
1,448.5 |
(4.9 |
)% |
GMS Inc. Per Day Net Sales and Per Day Organic Sales by Product Group (Unaudited) (dollars in millions) |
|||||||||||||||
|
Per Day Net Sales |
|
|
Per Day Organic Sales |
|
||||||||||
|
Three Months Ended July 31, |
|
|
Three Months Ended July 31, |
|
||||||||||
|
2025 |
|
2024 |
Change |
|
2025 |
|
2024 |
Change |
||||||
Wallboard |
$ |
8.7 |
|
$ |
9.2 |
(5.4 |
)% |
|
$ |
8.6 |
|
$ |
9.2 |
(6.8 |
)% |
Ceilings |
|
3.5 |
|
|
3.2 |
6.6 |
% |
|
|
3.4 |
|
|
3.2 |
6.1 |
% |
Steel framing |
|
3.1 |
|
|
3.3 |
(6.3 |
)% |
|
|
3.0 |
|
|
3.3 |
(8.2 |
)% |
Complementary products |
|
6.9 |
|
|
6.9 |
(0.7 |
)% |
|
|
6.5 |
|
|
6.9 |
(5.8 |
)% |
Total net sales |
$ |
22.2 |
|
$ |
22.6 |
(2.4 |
)% |
|
$ |
21.5 |
|
$ |
22.6 |
(4.9 |
)% |
|
Per Day Growth(a) |
|
Per Day Organic Growth(a) |
|||||||||
|
Three Months Ended July 31, 2025 |
|
Three Months Ended July 31, 2025 |
|||||||||
|
Volume |
|
Price/Mix/Fx |
|
Volume |
|
Price/Mix/Fx |
|||||
Wallboard |
(5.7 |
)% |
|
0.3 |
% |
|
(7.0 |
)% |
|
0.2 |
% |
|
Ceilings |
(4.2 |
)% |
|
10.8 |
% |
|
(5.0 |
)% |
|
11.1 |
% |
|
Steel framing |
(5.4 |
)% |
|
(0.9 |
)% |
|
(8.8 |
)% |
|
0.6 |
% |
|
________________________________________ |
|
(a) |
Given the wide breadth of offerings and units of measure in Complementary Products, detailed price vs volume reporting is not available at a consolidated level. |
GMS Inc. Reconciliation of Net Income to Adjusted EBITDA (Unaudited) (in thousands) |
|||||||
|
Three Months Ended |
||||||
|
July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
||||
Net income |
$ |
43,560 |
|
|
$ |
57,248 |
|
Interest expense |
|
21,068 |
|
|
|
22,213 |
|
Interest income |
|
(84 |
) |
|
|
(370 |
) |
Provision for income taxes |
|
17,505 |
|
|
|
20,946 |
|
Depreciation expense |
|
21,290 |
|
|
|
19,228 |
|
Amortization expense |
|
19,629 |
|
|
|
18,804 |
|
EBITDA |
$ |
122,968 |
|
|
$ |
138,069 |
|
Stock appreciation expense(a) |
|
867 |
|
|
|
243 |
|
Redeemable noncontrolling interests and deferred compensation(b) |
|
86 |
|
|
|
422 |
|
Equity-based compensation(c) |
|
3,744 |
|
|
|
3,678 |
|
Severance and other permitted costs(d) |
|
1,185 |
|
|
|
956 |
|
Transaction costs (acquisitions and other)(e) |
|
6,150 |
|
|
|
1,280 |
|
Loss on disposal of assets(f) |
|
4 |
|
|
|
858 |
|
Effects of fair value adjustments to inventory(g) |
|
— |
|
|
|
375 |
|
Change in fair value of contingent consideration(h) |
|
485 |
|
|
|
— |
|
EBITDA adjustments |
|
12,521 |
|
|
|
7,812 |
|
Adjusted EBITDA |
$ |
135,489 |
|
|
$ |
145,881 |
|
|
|
|
|
||||
Net sales |
$ |
1,414,332 |
|
|
$ |
1,448,456 |
|
Adjusted EBITDA Margin |
|
9.6 |
% |
|
|
10.1 |
% |
________________________________________ |
|
(a) |
Represents changes in the fair value of stock appreciation rights. |
(b) |
Represents changes in the fair values of noncontrolling interests and deferred compensation agreements. |
(c) |
Represents non-cash equity-based compensation expense related to the issuance of share-based awards. |
(d) |
Represents severance expenses and certain other cost adjustments as permitted under the ABL Facility and the Term Loan Facility. |
(e) |
Represents costs related to acquisitions paid to third parties, including costs for the pending merger with The Home Depot. |
(f) |
Includes gains and losses from the sale and disposal of assets. |
(g) |
Represents the non-cash cost of sales impact of acquisition accounting adjustments to increase inventory to its estimated fair value. |
(h) |
Represents the change in fair value of contingent consideration arrangements. |
GMS Inc. Reconciliation of Cash Used In Operating Activities to Free Cash Flow (Unaudited) (in thousands) |
|||||||
|
Three Months Ended |
||||||
|
July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
Cash used in operating activities |
$ |
(30,944 |
) |
|
$ |
(22,939 |
) |
Purchases of property and equipment |
|
(8,446 |
) |
|
|
(8,976 |
) |
Free cash flow (a) |
$ |
(39,390 |
) |
|
$ |
(31,915 |
) |
________________________________________ |
|
(a) |
Free cash flow is a non-GAAP financial measure that we define as net cash provided by (used in) operations less capital expenditures. |
GMS Inc. Reconciliation of Selling, General and Administrative Expense to Adjusted SG&A (Unaudited) (in thousands) |
|||||||
|
Three Months Ended |
||||||
|
July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
Selling, general and administrative expense |
$ |
314,379 |
|
|
$ |
315,152 |
|
|
|
|
|
||||
Adjustments |
|
|
|
||||
Stock appreciation expense(a) |
|
(867 |
) |
|
|
(243 |
) |
Redeemable noncontrolling interests and deferred compensation(b) |
|
(86 |
) |
|
|
(422 |
) |
Equity-based compensation(c) |
|
(3,744 |
) |
|
|
(3,678 |
) |
Severance and other permitted costs(d) |
|
(1,185 |
) |
|
|
(956 |
) |
Transaction costs (acquisitions and other)(e) |
|
(6,150 |
) |
|
|
(1,280 |
) |
Loss on disposal of assets(f) |
|
(4 |
) |
|
|
(858 |
) |
Adjusted SG&A |
$ |
302,343 |
|
|
$ |
307,715 |
|
|
|
|
|
||||
Net sales |
$ |
1,414,332 |
|
|
$ |
1,448,456 |
|
Adjusted SG&A margin |
|
21.4 |
% |
|
|
21.2 |
% |
________________________________________ |
|
(a) |
Represents changes in the fair value of stock appreciation rights. |
(b) |
Represents changes in the fair values of noncontrolling interests and deferred compensation agreements. |
(c) |
Represents non-cash equity-based compensation expense related to the issuance of share-based awards. |
(d) |
Represents severance expenses and certain other cost adjustments as permitted under the ABL Facility and the Term Loan Facility. |
(e) |
Represents costs related to acquisitions paid to third parties, including costs for the pending merger with The Home Depot. |
(f) |
Includes gains and losses from the sale and disposal of assets. |
GMS Inc. Reconciliation of Income Before Taxes to Adjusted Net Income (Unaudited) (in thousands, except per share data) |
|||||||
|
Three Months Ended |
||||||
|
July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
||||
Income before taxes |
$ |
61,065 |
|
|
$ |
78,194 |
|
EBITDA adjustments |
|
12,521 |
|
|
|
7,812 |
|
Amortization expense (1) |
|
19,629 |
|
|
|
18,804 |
|
Adjusted pre-tax income |
|
93,215 |
|
|
|
104,810 |
|
Adjusted income tax expense |
|
25,168 |
|
|
|
27,251 |
|
Adjusted net income |
$ |
68,047 |
|
|
$ |
77,559 |
|
Effective tax rate (2) |
|
27.0 |
% |
|
|
26.0 |
% |
|
|
|
|
||||
Weighted average shares outstanding: |
|
|
|
||||
Basic |
|
38,064 |
|
|
|
39,542 |
|
Diluted |
|
38,629 |
|
|
|
40,226 |
|
Adjusted net income per share: |
|
|
|
||||
Basic |
$ |
1.79 |
|
|
$ |
1.96 |
|
Diluted |
$ |
1.76 |
|
|
$ |
1.93 |
|
| ________________________________________ | |
(1) |
Represents all non-cash amortization resulting from business combinations. |
(2) |
Normalized cash tax rate excluding the impact of acquisition accounting and certain other deferred tax amounts. |
GMS Inc. Reconciliation of Net Income to Pro Forma Adjusted EBITDA (Unaudited) (in thousands) |
|||||||
|
Last Twelve Months Ended |
||||||
|
July 31, |
||||||
|
|
2025 |
|
|
|
2024 |
|
Net income |
$ |
101,781 |
|
|
$ |
246,497 |
|
Interest expense |
|
87,935 |
|
|
|
78,760 |
|
Write-off of debt discount and deferred financing fees |
|
— |
|
|
|
674 |
|
Interest income |
|
(633 |
) |
|
|
(1,650 |
) |
Provision for income taxes |
|
55,385 |
|
|
|
92,299 |
|
Depreciation expense |
|
85,069 |
|
|
|
72,107 |
|
Amortization expense |
|
81,966 |
|
|
|
67,269 |
|
EBITDA |
$ |
411,503 |
|
|
$ |
555,956 |
|
Impairment of goodwill |
|
42,454 |
|
|
|
— |
|
Stock appreciation expense(a) |
|
2,920 |
|
|
|
4,416 |
|
Redeemable noncontrolling interests and deferred compensation(b) |
|
924 |
|
|
|
1,369 |
|
Equity-based compensation(c) |
|
15,712 |
|
|
|
15,992 |
|
Severance and other permitted costs(d) |
|
12,080 |
|
|
|
3,178 |
|
Transaction costs (acquisitions and other)(e) |
|
8,790 |
|
|
|
4,751 |
|
(Gain) loss on disposal of assets(f) |
|
(6,330 |
) |
|
|
260 |
|
Effects of fair value adjustments to inventory(g) |
|
110 |
|
|
|
1,706 |
|
Change in fair value of contingent consideration(h) |
|
2,367 |
|
|
|
— |
|
Debt transaction costs(i) |
|
— |
|
|
|
409 |
|
EBITDA adjustments |
|
79,027 |
|
|
|
32,081 |
|
Adjusted EBITDA |
|
490,530 |
|
|
|
588,037 |
|
Contributions from acquisitions(j) |
|
1,111 |
|
|
|
35,211 |
|
Pro Forma Adjusted EBITDA |
$ |
491,641 |
|
|
$ |
623,248 |
|
|
|
|
|
||||
Cash and cash equivalents |
$ |
39,931 |
|
|
$ |
53,172 |
|
Total debt |
|
1,313,640 |
|
|
|
1,380,438 |
|
Net debt |
$ |
1,273,709 |
|
|
$ |
1,327,266 |
|
Net debt / Pro Forma Adjusted EBITDA |
2.6x |
|
2.1x |
||||
| ________________________________________ | |
(a) |
Represents changes in the fair value of stock appreciation rights. |
(b) |
Represents changes in the fair values of noncontrolling interests and deferred compensation agreements. |
(c) |
Represents non-cash equity-based compensation expense related to the issuance of share-based awards. |
(d) |
Represents severance expenses and certain other cost adjustments as permitted under the ABL Facility and the Term Loan Facility. |
(e) |
Represents costs related to acquisitions paid to third parties, including costs for the pending merger with The Home Depot. |
(f) |
Includes gains and losses from the sale of assets and the sale of the Company’s Michigan-based installed insulation contracting business, net of losses and impairments. |
(g) |
Represents the non-cash cost of sales impact of acquisition accounting adjustments to increase inventory to its estimated fair value. |
(h) |
Represents the change in fair value of contingent consideration arrangements. |
(i) |
Represents costs paid to third-party advisors related to debt refinancing activities. |
(j) |
Represents the pro forma impact of earnings from acquisitions from the beginning of the last twelve month period to the date of acquisition, including synergies. |
About GMS Inc.
Founded in 1971, GMS operates a network of more than 320 distribution centers with extensive product offerings of Wallboard, Ceilings, Steel Framing and Complementary Products. In addition, GMS operates nearly 100 tool sales, rental and service centers, providing a comprehensive selection of building products and solutions for its residential and commercial contractor customer base across the United States and Canada. The Company’s unique operating model combines the benefits of a national platform and strategy with a local go-to-market focus, enabling GMS to generate significant economies of scale while maintaining high levels of customer service.
Use of Non-GAAP Financial Measures
GMS reports its financial results in accordance with GAAP. However, it presents Adjusted net income, free cash flow, Adjusted SG&A, Adjusted EBITDA, and Adjusted EBITDA margin, which are not recognized financial measures under GAAP. GMS believes that Adjusted net income, free cash flow, Adjusted SG&A, Adjusted EBITDA, and Adjusted EBITDA margin assist investors and analysts in comparing its operating performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s management believes Adjusted net income, Adjusted SG&A, free cash flow, Adjusted EBITDA and Adjusted EBITDA margin are helpful in highlighting trends in its operating results, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which the Company operates and capital investments. In addition, the Company utilizes Adjusted EBITDA in certain calculations in its debt agreements.
You are encouraged to evaluate each adjustment and the reasons GMS considers it appropriate for supplemental analysis. In addition, in evaluating Adjusted net income, Adjusted SG&A and Adjusted EBITDA, you should be aware that in the future, the Company may incur expenses similar to the adjustments in the presentation of Adjusted net income, Adjusted SG&A and Adjusted EBITDA. The Company’s presentation of Adjusted net income, Adjusted SG&A, Adjusted SG&A margin, Adjusted EBITDA, and Adjusted EBITDA margin should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. In addition, Adjusted net income, free cash flow, Adjusted SG&A and Adjusted EBITDA may not be comparable to similarly titled measures used by other companies in GMS’s industry or across different industries. Please see the tables at the end of this release for a reconciliation of Adjusted EBITDA, free cash flow, Adjusted SG&A and Adjusted net income to the most directly comparable GAAP financial measures.
When calculating organic net sales growth, the Company excludes from the calculation (i) net sales of acquired businesses until the first anniversary of the acquisition date, and (ii) the impact of foreign currency translation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250828795472/en/
Contacts
Investors:
Carey Phelps
ir@gms.com
770-723-3369
More News
View More
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.
