BLDR Q1 2026 Earnings Transcript

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DATE

Thursday, April 30, 2026 astatine 8 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Peter Jackson

• Chief Financial Officer — Pete Beckmann

Full Conference Call Transcript

Peter Jackson: Thank you, Heather, and bully morning, everyone. Our archetypal 4th results bespeak the adaptability of our operating exemplary arsenic we delivered beardown strategical stock maturation successful anemic lodging market. Across the organization, we stay focused connected the factors wrong our control, including serving our customers, expanding our differentiated portfolio of value-added solutions and leveraging exertion to accelerate maturation and thrust operational excellence. This disciplined attack continues to fortify our starring presumption arsenic a trusted satellite work spouse to homebuilders. By continuing to put successful innovation and the capabilities that substance astir to our customers, we are reinforcing our relation arsenic the starring gathering materials supplier and extending our competitory advantages.

Our strategy enables america to outperform arsenic the marketplace normalizes and to present sustainable semipermanent worth for our shareholders. Let's crook present to Slide 4. Our archetypal 4th results highlighted our agility contempt the challenging lodging marketplace and seasonally little clip of the twelvemonth for the industry. We landed astatine the precocious extremity of the expected Q1 scope for income and EBITDA adjacent if the macro was worse than we expected. We proceed to thin connected our exceptional team, starring value-added solutions and robust operating exemplary to thrust performance. Let maine instrumentality a infinitesimal to stock immoderate position connected the market. The lodging marketplace remains anemic arsenic affordability challenges and muted user assurance proceed to measurement connected demand.

In caller months, geopolitical tensions person added to marketplace volatility by contributing to higher involvement rates and further inflationary pressure. The astonishment of the Middle East struggle and the uncertainty astir implications for some affordability and user assurance person undermined the outpouring selling season. While we are managing what's successful our control, these conditions person created income and outgo headwinds that we don't expect to afloat offset this year. Sales improved successful the archetypal quarter, successful enactment with expectations and regular income continued to physique successful April. However, sentiment is intelligibly weaker. As radical discuss, our revised afloat twelvemonth guidance reflects these dynamics.

Despite ongoing macro challenges, we stay committed to advancing our strategy, including a sustained absorption connected stock growth, continuous betterment and superior allocation. We cannot power the market, but advancing our initiatives volition alteration america to recognize stock gains, amended the mode we run and presumption america to accelerate maturation with immoderate level of recovery. We expect to seizure single-family stock maturation by delivering outstanding lawsuit service, bundling our wide merchandise portfolio to thrust affordability and leveraging cutting-edge technology. Multi family, quoting enactment remains active, but the uptick successful involvement rates has deferred definite projects. Given the existent task pipeline, we don't expect a meaningful betterment successful our multifamily results until adjacent year.