Builders FirstSource, Inc. — Form 8-K
Filed October 29, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 62/100
What the filing says
Builders FirstSource reported Q3 2026 net sales of $3.9B (down 2.2% YoY), with gross margin declining 260 bps to 27.8% due to lower housing starts. Net income fell 50.6% to $60.4M ($0.56 diluted EPS vs. $1.10 prior year); Adjusted EBITDA dropped 28.3% to $311.1M. Free cash flow plummeted 83.7% to $76.0M from $464.9M. Net debt/LTM EBITDA rose to 4.1x from 2.3x. Company narrowed 2026 full-year guidance range but maintained midpoints: $14.2–14.6B net sales, $1.075–1.125B Adjusted EBITDA.
Why this rating
Significant operational deterioration—margin compression, leverage spike to 4.1x, and FCF collapse—signals housing market weakness. Relative to $12.6B market cap, profitability and cash generation clearly impaired, though guidance maintained suggests no crisis.
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