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. You can generally identify forward-looking statements by the Company’s use of forward-look
Slide 2: Q4 Fiscal 2019 Highlights
Q4 Fiscal 2019 Highlights 3 We had a strong finish to fiscal 2019 Net sales in the fourth fiscal quarter of 2019 increased 22.7% to a record $780.1 million Organic net sales growth of 7.0% Wallboard sales increased 15.1% (3.8% organic) Ceilings sales increased 17.4% (13.7% organic) Steel framing sal
Slide 3: Full Year Fiscal 2019 Highlights
Full Year Fiscal 2019 Highlights 4 We made significant progress on a number of fronts in an operationally and strategically important year Net sales increased 24.1% (7.1% on organic basis) to surpass $3.0 billion for fiscal 2019 Reported net income of $56.0 million, or $1.31 per diluted share Adjust
Slide 4: Fiscal Q4 2019 Performance
Fiscal Q4 2019 Performance Gross Profit ($ mm) Gross Profit & Margin Net Sales & Mix 5 Net Sales ($ mm) +22.7% YOY Organic net sales growth of 7.0% Wallboard: +3.8% organic (Volume ~+3%/Price ~+1%) Ceilings: +13.7% organic (Volume ~+5%/Price ~+9%) Steel: +8.3% organic (Volume ~+4%/Price ~+4%) Other:
Slide 5: Fiscal Q4 2019 Performance
Fiscal Q4 2019 Performance Adj. EBITDA ($ mm) Net Income & Adjusted EBITDA (1) For a reconciliation of Adjusted SG&A, Adjusted EBITDA, Adjusted Net Income and Adjusted EBITDA Margin to the most directly comparable GAAP metrics, see Appendix. Fiscal Q4 2019 includes a $5.9 million favorable impact to
Slide 6: Attractive Capital Structure
Attractive Capital Structure Generated operating and free cash flow (1) of $88.2 million and $82.8 million, respectively, reducing net debt by $65.6 million and repurchasing $5.0 million of common stock Substantial liquidity, with $47.3 million of cash on hand and an additional $313.7 million availa
Slide 7: Leading Specialty Distributor Poised for Continued Growth
Leading Specialty Distributor Poised for Continued Growth 8 Market – Leading Distributor of Interior Building Products with significant scale and local expertise Differentiated Service Model Drives Market Leadership Multiple Levers to Drive Growth – Organic Growth, Greenfields, M&A, Operating Levera
Slide 8: Leading Specialty Distributor Poised for Continued Growth
Leading Specialty Distributor Poised for Continued Growth Market — Leading Distributor of Interior Building Products with significant scale and local expertise Differentiated Service Model Drives Market Leadership Multiple Levers to Drive Growth - Organic Growth, Greenfields, M&A, Operating Leverage
Slide 9: Summary Quarterly Financials
Summary Quarterly Financials 10 Note: Fiscal year end April 30. Includes greenfields, which we consider extensions of “base business.” FY18 acquired branches have been updated to reflect the number of acquired branches that are included within the sales from acquisitions. (In millions, except per sh
Slide 10: Quarterly Cash Flows
Quarterly Cash Flows 11 Free cash flow is a non-GAAP financial measure defined as net cash provided by (used in) operations less capital expenditures. Differences may occur due to rounding. ($ in millions) (Unaudited) 1Q18 2Q18 3Q18 4Q18 FY18 1Q19 2Q19 3Q19 4Q19 FY19 Net income $ 15.3 $ 18.0 $ 19.7
Slide 11: Quarterly Net Sales
Quarterly Net Sales Note: Fiscal year end April 30. When calculating our “base business” results, we exclude any branches that were acquired in the current fiscal year, prior fiscal year and three months prior to the start of the prior fiscal year. FY18 quarterly sales from acquisitions have been up
Slide 12: Quarterly Net Income to Adjusted EBITDA
Quarterly Net Income to Adjusted EBITDA Adjusted EBITDA Reconciliation Commentary Represents non-cash expense related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the values of noncontrolling interests Represents non-cash equity-based compens
Slide 13: LTM Net Income to Pro Forma Adjusted EBITDA
LTM Net Income to Pro Forma Adjusted EBITDA Pro Forma Adjusted EBITDA Reconciliation Commentary 14 Represents non-cash expense related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the values of noncontrolling interests Represents non-cash equ
Slide 14: Reconciliation of Income Before Taxes to Adjusted Net Income
Reconciliation of Income Before Taxes to Adjusted Net Income Adjusted Net Income Reconciliation Commentary Depreciation and amortization from the increase in value of certain long-term assets associated with the April 1, 2014 acquisition of the predecessor company and the acquisition of Titan. Full
Slide 15: Reconciliation of Gross Profit to Adjusted Gross Profit
Reconciliation of Gross Profit to Adjusted Gross Profit Adjusted Gross Profit Reconciliation Commentary Represents the non-cash cost of sales impact of purchase accounting adjustments to increase inventory to its estimated fair value 16 (Unaudited) 1Q18 2Q18 3Q18 4Q18 FY2018 1Q19 2Q19 3Q19 4Q19 FY20
Slide 16: Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A
Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A Adjusted SG&A Reconciliation Commentary Represents non-cash expense related to stock appreciation rights agreements Represents non-cash compensation expense related to changes in the values of noncontrolling interests Represents non-cas
Slide 17: Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A
Reconciliation of SG&A to Adjusted SG&A & Organic Adjusted SG&A = eid =e tee [Sem teen toe -eag[Sam] A, paper nvr epee rod stk ey Soon is apecmons SCRA. Reported ‘Siser $isss $1563 susie [5 es39| $amsa uss $am2 $1906 |$ 7395) tania ‘Miwsmeces B._ Represents non-cash compensation expense ‘Sock apprec
Slide 18: Q&A