Builders FirstSource, Inc.

“We are a leading provider of building materials for professional builders in new residential construction and repair and remodeling.”

“our locations are organized into three geographical divisions (East, Central, and West), which are also our operating segments.”

“Customers in the Pro Segment primarily include production and custom homebuilders, remodeling contractors, and multi-family builders.”

“Manufactured products consist of wood floor and roof trusses, wall panels, engineered wood, our Ready-Frame® framing system, and manufactured and modular homes.”

“We group our building products into four product categories:”

“Our services, which vary by market, include professional installation, turnkey framing, and shell construction.”

“We also offer software products through our Paradigm subsidiary, including drafting, estimating, quoting, and virtual home design services”

“Our lumber and lumber sheet goods product category represented 26% of total net sales for the year ended December 31, 2025.”

“Homebuilders are increasingly using prefabricated components in order to realize increased efficiency, overcome skilled construction labor shortages and improve quality.”

“which includes increasing sales of our prefabricated components and other value-added products, pursuing strategic acquisitions, opening new facilities, implementing operational excellence, pursuing digitization opportunities and initiatives, and maintaining a balanced debt level.”

“During 2025, we implemented the new ERP system in two pilot markets, and successfully converted our centralized finance and accounting functions, as well as our internal and external financial reporting.”

“Each of our 4.25% senior unsecured notes due 2032 (“4.25% 2032 notes,”), 6.375% 2034 notes, 6.75% 2035 notes, 6.375% senior unsecured notes due 2032 (“6.375% 2032 notes”), and 5.00% unsecured senior notes due 2030 (“5.00% 2030 notes”), bear interest at a fixed rate”

“tially reliant on cash on hand and borrowing availability under the Revolving Facility, which totaled $1.7 billion at December 31, 2025, to provide working capital and fund our operations.”

“also lumber and other commodity prices, which may be impacted by changes in tariffs and duties.”

“a composite of industry forecasters, including the National Association of Home Builders, John Burns Research and Consulting, and Zonda Homes (collectively, the “Industry Forecast Composite”) expect to see housing demand decrease in the near-term.”

“through recent acquisitions completed over the past five years, we have expanded our operational footprint in the multi-family market, predominantly five-story and smaller, wood construction, and the light commercial market”

“Net sales $ 15,190,638 $ 16,400,492”

“we have operations in 48 of the top 50 and 94 of the top 100 U.S. Core Based Statistical Areas (“CBSAs”)”

“We have also repurchased approximately $8.0 billion of our shares since January 2021 through the date of this filing”

“The prices of wood products directly affect our sales and earnings. In particular, low prices for wood products over a sustained period can adversely affect our financial condition, operating results and cash flows.”

“We are also involved in several asbestos personal injury suits due to the alleged sale of asbestos-containing products by legacy businesses that we acquired.”

“home center retailers, which have historically concentrated their sales efforts on retail consumers and small contractors, have expanded their efforts into the professional homebuilder market in recent years”

“Homebuyer demand may shift towards smaller homes creating fluctuations in demand for our products.”

“If conditions in the housing industry continue to deteriorate, we may be required to take goodwill and/or asset impairment charges for certain reporting units.”