Builders Firstsource, Inc. · NYSE:BLDR
Builders Firstsource — Q3 2015 Earnings Presentation
12 slides from Builders Firstsource's earnings presentation, November 2015
Slide 1: Three Months Ending September 30, 2015 Earnings Call
Three Months Ending September 30, 2015 Earnings Call November 2015
Slide 2: Safe Harbor & Non-GAAP Financial Measures
Safe Harbor & Non-GAAP Financial Measures Cautionary Notice Statements in this presentation which are not purely historical facts or which necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations, beliefs, expectations
Slide 3: Transformative combination creates industry leader with significant opportunity to drive profitable growth
Transformative combination creates industry leader with significant opportunity to drive profitable growth 1 Market leader in a highly fragmented industry Geographic diversity and balanced end market 2 exposure Opportunity for continued market share gains and 3 ongoing shift towards higher margin pr
Slide 4: The new Builders FirstSource: a diversified, national pro dealer with combined annual sales of $6.1B
The new Builders FirstSource: a diversified, national pro dealer with combined annual sales of $6.1B Key highlights for our combined company We are the largest supplier of building products, prefabricated components and value-added services, primarily for new residential construction, in the U.S.
Slide 5: Builders FirstSource brings significant expertise selling value-added products to the combined business
Builders FirstSource brings significant expertise selling value- added products to the combined business Adjusted sales by product category Lumber & Sheet Goods Manufactured product Windows, doors & millwork Other Lumber & 11% Lumber Sheet Goods 33% Siding, Metal & Concrete 10% Includes dimensiona
Slide 6: On July 31, 2015, Builders FirstSource acquired ProBuild
On July 31, 2015, Builders FirstSource acquired ProBuild – creating an industry leader with expanded growth opportunities Acquisition benefits include: Leading scale and diversification Created the leading dealer in the sector - the largest distributor of building products to the pro channel N
Slide 7: Acquisition of ProBuild presents substantial expected cost savings
Acquisition of ProBuild presents substantial expected cost savings $ Run Rate Category Sub-Category Summary Description Total (M) Commodity Combined company to benefit from best pricing among both parties $9-14 Procurement Products Combined company negotiating more favorable terms due to increas
Slide 8: Acquisition Adjusted Financial Overview
Acquisition Adjusted Financial Overview 7
Slide 9: Q3 2015 Adjusted Results
Q3 2015 Adjusted Results Adjusted Net Revenue Bridge Commentary 136 ($ in millions) Adjusted sales volume grew approximately 7.0 percent in the homebuilding end market and 3.0 12 percent in the repair and remodel end 91 (104 ) (11) market, which was offset 6.1 percent by the negative impact of com
Slide 10: Liquidity and interest
Liquidity and interest Total liquidity at September 30, 2015 was $685.7 million, consisting of net borrowing availability under the 2015 facility and cash on hand We had $135.0 million in outstanding borrowings under our 2015 facility as of September 30, 2015 We paid down approximately $160 mi
Slide 11: Adjusted EBITDA Reconciliation Q3
Adjusted EBITDA Reconciliation Q3 Three months ended September 30, 2015 2014 (in $ millions) Reported GAAP Net Income (loss) $ (8.8) $ 8.5 Pre-Close ProBuild Net Income (1) 5.7 36.8 (2) Pro forma interest adjustment 6.0 (23.1) (3) Acquisition depreciation and amortization adjustments (3.9) (10.1) Ot
Slide 12: SBuilders
SBuilders 4FirstSource