Builders FirstSource Q3: EPS Beat, Revenue Drop, Housing Market Woes & More

Builders FirstSource, Inc. (NYSE:BLDR) shares are trading higher on Tuesday.

The company reported third-quarter adjusted earnings per share of $3.07, beating the street view of $2.98. Quarterly revenues of $4.23 billion (down 6.7%) missed the analyst consensus estimate of $4.45 billion.

The company reported a 210 basis point drop in gross profit margin to 32.8%, largely due to ongoing normalization in Multi-Family and core organic sectors.

Related: Builders FirstSource Taps CFO Peter Jackson For Top Role As CEO Dave Rush Plans Retirement

Net income fell 36.9% ...