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21.08.25 - 23:45
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Tariff-Driven Rally Reverses In Lumber Market (ZeroHedge)
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Tariff-Driven Rally Reverses In Lumber Market
There is some good news in the lumber market: contracts have plunged more than 14% in recent weeks, reversing highs last seen during the pandemic shortages. The sharp reversal comes as bets on tariff-driven cost pressures and lower interest rates failed to lift demand. At the same time, disappointing housing data and weak earnings across the housing industry underscored the trouble festering.
Traders ramped up bets that U.S. tariffs on Canadian imports and lower interest rates would lift costs and demand, but housing activity has failed to deliver any demand tailwinds.
There has been weak builder confidence (hitting 13-year lows), disappointing housing permits, and earnings misses at Home Depot, James Hardie Industries, Builders FirstSource, and UFP Industries.
Earlier today...
Why is the housing market completely frozen? A new 30Y mortgage costs 6.80%. The average existing mortgage is almost 3% lower, or 4.11%. https://t.co/hOcBSnWZre pic...
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31.07.25 - 13:06
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Builders FirstSource Reports Second Quarter 2025 Results (Business Wire)
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IRVING, Texas--(BUSINESS WIRE)--Builders FirstSource, Inc. (NYSE: BLDR) today reported its results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights
All Year-Over-Year Comparisons Unless Otherwise Noted:
Net sales were $4.2 billion, a 5.0% decrease, driven by lower core organic net sales and commodity deflation, partially offset by growth from acquisitions.
Gross profit margin decreased 210 basis points to 30.7%, primarily driven by Single- and Multi-Family margin normalization as well as a below-normal starts environment.
Net income was $185.0 million, or diluted EPS of $1.66 compared to diluted EPS of $2.87 in the prior year period. Net income as a percent of net sales decreased by 330 basis points to 4.4%.
Adjusted EBITDA decreased 24.4% to $506.1 million, primarily driven by lower gross profit.
Adjusted EBITDA margin declined by 300 basis points to 12.0%, attributable to lower gross margin and reduced operating leverage.
Cash provided by operating activities was $341.0 million...
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24.07.25 - 12:45
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David Flitman Appointed to Avery Dennison Board of Directors (Business Wire)
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MENTOR, Ohio--(BUSINESS WIRE)--#AVY--Avery Dennison Corporation (NYSE: AVY), a leading global materials science and digital identification solutions company, today announced that its board of directors has appointed David Flitman as a director, effective July 23, 2025.
Flitman, 61, serves as chief executive officer of US Foods Holding Corporation, a leading foodservice distributor, with $37.9 billion in fiscal 2024 revenues. He previously served as president and chief executive officer of Builders Firstsource Incorporated from 2021 to 2022, and BMC Stock Holdings Incorporated from 2018 to 2021.
“We are extremely pleased to welcome Dave to our board. He brings extensive CEO experience navigating dynamic business environments, as well as deep expertise in the food industry—a segment that represents a significant growth opportunity for Avery Dennison,” said Mitch Butier, chairman of the Avery Dennison board. “We look forward to working with Dave to continue creating long-term value for all our stakeh...
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