The year-over-year sales decline widened from that of 2Q24, driven by weaker Multi-Family results.
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Year-over-year sales declined by 1.6% after an increase in 1Q sales and organic growth.
BFS continued its westward expansion with the acquisitions of Western Truss and CRi SoCal.
Year-over-year sales turned positive after a prolonged period of decline, while margins, profit and EBITDA all were down.
However, the year-over-year sales declines improved throughout the year and were down only 4.7% in the fourth quarter.
The company reported net sales of $4.5 billion, a 21.3% decrease primarily driven by a weaker housing market and commodity deflation.
Major organic sales decline and deflation continued to slam the building products distribution giant in 2Q.
The decline in sales was primarily driven by a weak housing market that has plagued the building materials and construction industries for the past year.
Stephen Herron is the second major executive appointment for BFS in 2023.
The company's sales slowed considerably in the second half of the year amid tougher comps and a slumping single-family housing market.
M&A deals involving building supply facilities fell from 178 in 2021 to 164 in 2022, with lumber companies accounting for the most activity last year.
Dave Rush had served as interim CEO since mid-November and is a 23-year company veteran.
US Foods announced the CEO appointment of Dave Flitman one week after Builders FirstSource announced his departure.
Builders FirstSource Executive Vice President Dave Rush has been appointed interim CEO while a search for a permanent successor is conducted.
The distributor has also enacted a handful of other cost-cutting actions as homebuilding has soured throughout 2022.
