Builders FirstSource, Inc. (BLDR) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 1, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the Builders FirstSource Second Quarter 2022 Earnings Conference Call. Today's call is scheduled to last about one hour, including remarks by the 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, Katie. Good morning, and welcome to our second quarter 2022 earnings call. With me on the call are Dave Flitman, our CEO; and Peter Jackson, our CFO. Today, we will review our record second quarter results for 2022. The second quarter press release and investor presentation for today's call 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. As a reminder, our adjusted EPS calculation excludes amortization of intangibles. We provide these non-GAAP results for informational purposes, and they should not be considered in isolation for 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 could 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'll turn the call over to Dave.

Dave Flitman

Thanks Mike. Good morning, everyone, and thanks for joining our call. We ended the first half of the year on strong footing, delivering robust results during the first quarter with that positive momentum continuing throughout the second quarter in which we achieved sales growth of 24% and adjusted EBITDA growth of 80% in the face of difficult comps in a challenging operating environment.

These outstanding achievements are a direct result of having strong alignment around the clear strategy and the focused execution against that strategy, driven by the hard work and dedication of our approximately 30,000 team members and their commitment to provide outstanding service to our customers.