GMS Q1 Profit Climbs, Tops Estimates

(RTTNews) - GMS Inc. (GMS), a specialty distributor of interior building products, on Thursday reported that first-quarter net income increased 46.2 percent to $89.5 million or $2.07 per share from last year's $61.2 million or $1.39 per share.

Adjusted net income was $105.2 million or $2.43 per share, compared to $73.3 million or $1.67 per share a year ago.

On average, eight analysts polled by Thomson Reuters expected earnings of $2.25 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA increased 36.6 percent to $175.0 million, and adjusted EBITDA margin of 12.9 percent improved 60 basis points.

Net sales of $1.36 billion increased 30.5 percent from last year's $1.04 billion. Analysts estimated sales of $1.35 billion for the quarter.

Organic net sales increased 24.1 percent.