GMS sales up more than 20% in Q4
The Tucker, Ga.-based gypsum giant had a strong fiscal year, too.
GMS Inc., a collection of dozens of specialty distributors from ASI Building Products to Wildcat Materials – had a strong year. The Tucker, Ga.-based distributor of wallboard and interior building products reported $3.12 billion in net sales for the fiscal year, up 24.1%. For the quarter, sales jumped 22.7% to $780.1 million. Organic net sales increased 7.1% year over year.
During the fourth quarter, GMS — the initials of Gypsum Management & Supply — completed the previously-announced acquisition of Commercial Builders Group, LLC in southern Louisiana and opened four greenfield locations in Carrollton, Texas; Fredericksburg, Va.; Harrisburg, Pa.; and Portland, Maine. For fiscal year 2019, the company completed a total of three business acquisitions and opened eight greenfield locations.
The fiscal year also included the acquisition of WSB Titan, which increased the company’s scale and footprint in North America, provided entry into the highly attractive Canadian market, and created a well-balanced platform for long-term growth, the company said.
Bottom line: Fourth quarter net income was $16.6 million, up from $9.9 million in the prior-year quarter.
From the CEO: “Activity levels across our end markets in the United States remain solid and continue to exhibit healthy fundamentals,” said Mike Callahan, CEO.
Other news: The Company completed three business acquisitions and eight greenfield openings during fiscal 2019. The company operates more than 250 distribution centers across the U.S. and Canada. Click here for the full earnings release.
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