GMS Has Strong Second Quarter

GMS Inc. had net sales of $1.43 billion for he second quarter of fiscal 2023, an increase of 24.4 per cent compared to net sales in the second quarter of fiscal 2022. The increase was primarily due to a favourable pricing environment along with active residential construction and an improving commercial landscape, both of which helped drive volume growth in wallboard, ceilings, and complimentary products. Wallboard sales were up 41 per cent year over year; ceiling sales were up 13.3 per cent; steel framing sales were up 2.3 per cent; and complementary products sales were up 26.5 per cent. The company had net income of $103.2 million, up 38.7 per cent compared to net income of $74.4 million in the second quarter of 2022.