Slide 1: Safe Harbor and Basis of Presentation
Safe Harbor and Basis of Presentation Forward-Looking Statement Safe Harbor - This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on estimates and assumptions made by our
Slide 2: GMS at a Glance
GMS at a Glance #1 North American specialty distributor of interior construction products (1) – More than 210 branches across 42 states – 14.5% market share in wallboard – 17.7% market share in ceilings Other 23% Residential ~40% Steel Framing 16% Balanced mix of commercial new construction, commerc
Slide 3: Market Leader with Scale Advantages
Market Leader with Scale Advantages Market Leader with Significant Scale Advantages – #1 North American Distributor of Wallboard and Ceilings Differentiated Service Model Drives Market Leadership Multiple Levers to Drive Above-Market Growth – Market Share, Greenfields, M&A, Operating Leverage Capita
Slide 4: Significant Opportunity to Further Expand the Platform
Significant Opportunity to Further Expand the Platform GMS has a demonstrated history of successful expansion through greenfields and acquisitions GMS has limited or no presence in just under 40% of the top 100 MSAs in the U.S. Significant opportunity for share gains in new and existing markets over
Slide 5: Financial Highlights
Financial Highlights Proven track record of driving consistent above market growth and share gains Above-Market Growth Ability to deliver superior service and a comprehensive product suite Well positioned to capitalize on growth in construction end markets Attractive End Market Dynamics Balanced exp
Slide 6: Q1 2018 Highlights
Q1 2018 Highlights Net sales increased 16.8% to a record $642.2 million Base business net sales up 7.8% Wallboard unit volume grew 11.8% to a record 914 million square feet Above-Market Growth Net income significantly increased 67.4% to $15.3 million, or EPS of $0.36 per share Gross profit increased
Slide 7: Attractive Capital Structure
Attractive Capital Structure Leverage of 2.9x Net Debt / LTM Pro Forma Adj. EBITDA as of 7/31/17, down from 3.4x Net Debt / LTM Pro Forma Adj. EBITDA as of 7/31/16 Substantial liquidity, with $20 million of cash and an additional $320 million undrawn on the ABL facility, as of 7/31/17 Moody’s and St
Slide 8: Appendix
Appendix 5 :4 2 / 4 1 0 /2 /6 2/ tn e m D oc u d ve
Slide 9: Summary Quarterly Financials
Summary Quarterly Financials Note: Fiscal year end April 30. 10 (In millions, except per share data) 1Q17 2Q17 3Q17 4Q17 (Unaudited) Wallboard Volume (MSF) 818 891 842 906 Wallboard Price ($ / '000 Sq. Ft.) $ 307 $ 303 $ 303 $ 311 Wallboard $ 251 $ 270 $ 255 $ 282 Ceilings 86 85 82 87 Steel framing
Slide 10: Quarterly Net Sales
Quarterly Net Sales ($ in millions) (Unaudited) Base Business (1) (2) Acquisitions (2) Total Net Sales Business Days (3) Net Sales by Business Day Base Business Branches (4) (5) Acquired Branches (5) Total Branches Note: Fiscal year end April 30. (1) When calculating our “base business” results, we
Slide 11: Quarterly Net Income to Adjusted EBITDA
Quarterly Net Income to Adjusted EBITDA Commentary A. Represents non-cash compensation expenses related to stock appreciation rights agreements B. Represents non-cash compensation expense related to changes in the fair values of noncontrolling interests C. Represents non-cash equity-based compensati
Slide 12: LTM Net Income to Pro Forma Adjusted EBITDA
LTM Net Income to Pro Forma Adjusted EBITDA Commentary ( $ in 000s) (Unaudited) 1Q18 LTM 2017 2016 2015 A. Represents non-cash compensation expenses related to stock appreciation rights agreements $ 12,564 $ (11,697) B. Net Income (Loss) $ 55,066 $ 48,886 Represents non-cash compensation expense rel
Slide 13: Net Income to Adjusted EBITDA
Net Income to Adjusted EBITDA Commentary ($ in 000s) (Unaudited) A. Represents compensation paid to certain executives who were majority owners prior to the AEA acquisition of GMS. Following the acquisition, these executives’ compensation agreements were amended and, going forward, GMS does not anti
Slide 14: Quarterly Cash Flows
Quarterly Cash Flows ($ in millions) (Unaudited) Historical 1Q17 2Q17 3Q17 4Q17 FY17 1Q18 Net income (loss) Non-cash changes Changes in primary working capital components: Trade accounts and notes receivable Inventories Accounts payable Cash provided by (used in) operating activities $ 9.2 (5.0) $ 1
Slide 15: SG&A Adjustments Table
SG&A Adjustments Table Commentary A. Represents non-cash compensation expenses related to stock appreciation rights agreements (Unaudited) ($ in millions) SG&A - Reported Adjustments Stock appreciation rights expense (benefit) Redeemable noncontrolling interests Equity-based compensation Severance a
Slide 16: www.gms.com
www.gms.com Unsaved Document / 2/6/2014 / 22:45
Slide 17: www.gms.com