Builders FirstSource's 2Q 2020 net sales were $1.9 billion, a 2.2% increase compared to a year ago. Core organic sales declined by 2.1% and commodity price inflation added 1.8% to net sales.
Gross margin was $517.3 million, flat compared with the prior year. Gross margin percentage decreased to 26.6% from 27.2% in the prior year period. The decrease was attributable to the expected normalization in its lumber and lumber sheet goods product category gross margin percentage compared to the prior year period.
2Q 2020 net income was $78.9 million, or $0.67 per diluted share, compared to $66.6 million, or $0.57 per diluted share, in the same period a year ago.
2Q 2020 adjusted net income was $79.2 million, or $0.67 per diluted share, compared to $74.1 million, or $0.63 per diluted share, in the 2Q 2019..
2Q 2020 adjusted EBITDA grew $16.3 million to $161.9 million, an increase of 11.2%, setting a quarterly record.
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling.