GMS Inc (GMS) Q4 2024 Earnings Report

GMS Inc reported a solid finish to fiscal 2024 with Q4 net sales of approximately $1.413 billion, net income of $56.4 million and adjusted EBITDA of $146.6 million. Full-year 2024 results reflected a record level of activity across the company’s major product categories, supported by resilient pricing in wallboard and ongoing demand in multifamily and commercial construction, offsetting a softer single-family backdrop. Management highlighted that the year supported by balanced end markets produced $5.5 billion of net sales and $5.3 billion of organic sales, underscoring the breadth of GMS’s platform across wallboard, ceilings, steel framing and complementary products. The company generated robust cash flow, with $204.2 million from operating activities in Q4 and $433.2 million for the full year, yielding free cash flow of $376 million for FY2024 (61.1% of adjusted EBITDA).