GMS Reports Fourth Quarter and Fiscal Year 2019 Results
GMS Inc., a North American specialty distributor of interior building products, today reported financial results for the fourth quarter and fiscal year ended April 30, 2019.
“We were pleased to deliver a strong finish to fiscal 2019 with record net sales and earnings for our fourth fiscal quarter,” said Mike Callahan, Chief Executive Officer. “Strong organic sales growth of 7.0% reflects higher volumes and pricing across all our product groups. Activity levels across our end markets in the United States remain solid and continue to exhibit healthy fundamentals. While long-term factors contributing to housing demand and overall economic growth for Canada remain positive, we currently face some challenging conditions in the Canadian single-family housing market. We generated significant cash from operations and free cash flow in the quarter, enabling us to execute on our capital allocation priorities, which include reducing our net leverage, expanding through accretive acquisitions and greenfield investments and repurchasing our common stock.”