Slide 1: First Quarter 2020 Earnings Presentation
First Quarter 2020 Earnings Presentation May 1, 2020 www.bldr.com
Slide 2: Safe Harbor & Non-GAAP Financial Measures
Safe Harbor & Non-GAAP Financial Measures Cautionary Notice Statements in this news release and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about expected market share gains, forecasted financial performance or other s
Slide 3: COVID-19 Operational and Financial Preparedness
COVID-19 Operational and Financial Preparedness Health and Safety Business Preparedness Prioritizing health and safety in all aspects of business Managing business with a safety-first emphasis across Dedicated team in place to monitor daily best practices, nationwide footprint ensure safety and impl
Slide 4: Q1 2020 Financial Performance In Line With Expectations
Q1 2020 Financial Performance In Line With Expectations Net sales $1.8b Achieved Core Organic Growth across all three end markets2 +9.5% YoY Value-added products drove Core Organic +3.9% led by 7% growth in Windows, (+3.9% Core Organic)1 Doors and Millwork; Manufactured Products grew +4% Gross Norma
Slide 5: Q1 2020 Net Sales Growth Led by Value-added Products
Q1 2020 Net Sales Growth Led by Value-added Products Q1 2020 sales by product category ($ in millions / % change) Specialized Products: Lumber & Lumber Value-Added Products: Sheet Goods Manufactured Window, Doors & Siding, Metal & Gypsum, Roofing & Products Millwork Concrete Insulation $643.9 $354.5
Slide 6: Q1 2020 Core Organic Growth in All End Markets
Q1 2020 Core Organic Growth in All End Markets Net sales bridge ($ in millions) +3.9% Core Organic Growth Sales mix by end market (% of total) Repair & Core Organic performance: Remodel / Other Single family: +3% led by solid growth in Value- 21% Added Products R&R / Other: +2% with broad growth acr
Slide 7: Strong Liquidity and De-risked Balance Sheet
Strong Liquidity and De-risked Balance Sheet Debt Profile1 Weighted Average Debt Maturity of ~8.1 Years1 Average maturity of financial debt – 8.1 years 778 Average nominal interest rate – 5.97% 550 Covenants – Covenant lite Liquidity Profile1 52 - - - - - - - - Total Liquidity – ~$1.0b '20 '21 '22 '
Slide 8: Prepared for rapidly evolving economic environment
Prepared for rapidly evolving economic environment Framework to drive success… Anticipate demand-related operational adjustments and react quickly Anticipate & - Managing with a safety-first emphasis in all aspects of business Take Action - Business continuity and risk mitigation plans in place for
Slide 9: Differentiated market leader positioned for above market growth and expanding profitability
Differentiated market leader positioned for above market growth and expanding profitability Leadership in a highly fragmented industry Exceptional geographic, customer and end market diversity Strategic investment in value-added capacity and growth, driving market share gains and margin expansion Fo
Slide 10: Appendix – Financial Schedules
Appendix – Financial Schedules www.bldr.com
Slide 11: Reconciliation from Net Income to Adjusted EBITDA
Reconciliation from Net Income to Adjusted EBITDA Three months ended Twelve months ended March 31, March 31, 2020 2019 2020 (in millions) Reconciliation to Adjusted EBITDA: GAAP Net Income $ 8.8 $ 35.7 $ 194.9 Acquisition and Integration Expense 3.4 4.8 11.7 Debt issuance and refinancing cost (1) 28
Slide 12: Debt, Interest and Free Cash Flow Reconciliation
Debt, Interest and Free Cash Flow Reconciliation Three months ended March 31, 2020 Interest Expense Net Debt Outstanding (in millions) 2030 Secured Notes @ 5% Fixed $ 3.7 $ 550.0 2027 Secured Notes @ 6.75% Fixed 7.7 427.5 2024 Secured Notes @ 5.625% Fixed 3.9 - 2024 Term Loan @ 4.7% (Floating LIBOR)
Slide 13: GAAP Financial Schedules – Income Statement
GAAP Financial Schedules – Income Statement1 Three Months Ended March 31, 2020 2019 (Unaudited) (In thousands, except per share amounts) Net sales $ 1,787,021 $ 1,631,300 Cost of sales 1,321,608 1,189,325 Gross margin 465,413 441,975 Selling, general and administrative expenses 404,466 370,084 Incom
Slide 14: GAAP Financial Schedules – Balance Sheet
GAAP Financial Schedules – Balance Sheet1 March 31, December 31, 2020 2019 (Unaudited) (In thousands, except per share amounts) ASSETS Current assets: Cash and cash equivalents $ 163,872 $ 14,096 Accounts receivable, less allowances of $18,496 and $13,492 at March 31, 2020 and December 31, 2019, res
Slide 15: GAAP Financial Schedules – Cash Flow
GAAP Financial Schedules – Cash Flow1 Three months ended March 31, 2020 2019 (Unaudited) (In thousands) Cash flows from operating activities: Net income $ 8,767 $ 35,708 Adjustments to reconcile net income to net cash from operating activities: Depreciation and amortization 29,400 23,576 Amortizatio
Slide 16: Investor Relations
Investor Relations Binit Sanghvi 214-765-3804 | binit.sanghvi@bldr.com www.bldr.com