GMS Inc. (GMS) has reported a decline in profits for the second quarter compared to the same period last year, falling short of market expectations. The company's net income was $53.536 million, or $1.35 per share, compared to $80.957 million, or $1.97 per share, during the second quarter of the previous year.
After adjusting for specific items, GMS Inc. disclosed earnings of $80.061 million or $2.02 per share for the quarter. This figure did not meet analysts' forecasts, as they had projected earnings of $2.19 per share according to Thomson Reuters, excluding special items.
Despite the dip in profits, GMS Inc. saw a 3.5% increase in revenue, which reached $1.470 billion, up from $1.420 billion in the previous year.
Summary of GMS Inc. earnings (GAAP) for Q2:
- Earnings: $53.536 million, down from $80.957 million last year
- Earnings per Share (EPS): $1.35 compared to $1.97 last year
- Revenue: $1.470 billion, up from $1.420 billion last year.
