Builders FirstSource, Inc. (BLDR) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

May 3, 2023 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the Builders FirstSource First Quarter 2023 Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by management and the question-and-answer session. [Operator Instructions].

I’d now like to turn the call over to Mr. Michael Neese, Senior Vice President, Investor Relations for Builders FirstSource. Please go ahead, sir.

Michael Neese

Thank you, Shelly. Good morning and welcome to our first quarter earnings call. With me on the call are Dave Rush, our CEO; and Peter Jackson, our CFO. Today we will review our results for the first quarter of 2023. The earnings press release, investor presentation are available on our website at investors.bldr.com. We will refer to several slides from the investor presentation during our call.

The results discussed today include GAAP and non-GAAP results adjusted for certain items. We provide these non-GAAP results for informational purposes, and they should be considered in isolation from the most directly comparable GAAP measures. You can find the reconciliation of these non-GAAP measures to the corresponding GAAP measures where applicable and a discussion of why we believe they can be useful to investors in our earnings press release, SEC filings and presentation.

Our remarks in the press release, presentation and on this call contain forward-looking and cautionary statements within the meaning of the Private Securities Litigation Reform Act and projections of future results. Please review the forward-looking statements section in today's press release and in our SEC filings for various factors that could cause our actual results to differ from forward-looking statements and projections.

With that, I'd like to turn the call over to Dave.

Dave Rush

Thank you, Mike. Good morning everyone and thanks for joining our call. Our start to 2023 has exceeded our expectations, as the work that we have put into transforming Builders FirstSource into the premier supplier of building product solutions is driving tangible results. We are confident that the resilience of our business and the exceptional positioning with our customers will become increasingly evident to the market as we progress through a dynamic year in 2023.

Despite a challenging macro backdrop, we performed above forecast due to the strength of our product portfolio, execution on our strategic priorities and the tireless efforts of our team members.