- GMS Inc (NYSE:GMS) reported second-quarter FY23 sales growth of 24.4% year-on-year to $1.43 billion, beating the consensus of $1.36 billion.
- Gross profit jumped 24.9% Y/Y to $464.5 million, and the margin expanded 20 basis points to 32.5%.
- Selling, general and administrative expenses rose 21% to $278.9 million.
- Operating margin was 10.7%, and the operating income for the quarter rose 37% to $153.3 million.
- Adjusted EBITDA increased 30.7% Y/Y to $195.5 million.
- Adjusted EPS of $2.79 beat the analyst consensus of $2.34.
- The company held $124.2 million in cash and equivalents as of October 31, 2022. Cash provided by operating activities totaled $107.3 million, and the free cash flow was $96.5 million.
- “A significant backlog of homes under construction, continued strength in multi-family, and improving levels of commercial activity helped drive exceptional results for our fiscal second quarter,” said CEO John C. Turner, Jr.
- Price Action: GMS shares are trading higher by 5.41% at $52.05 in premarket on the last check Thursday.
- Photo Via Company
AstraZeneca Announced Datopotamab Deruxtecan-based Combinations Show Promising Clinical Activity in Patients With Advanced Non-small Cell Lung Cancer
Initial results from the TROPION-Lung02 Phase Ib trial showed that datopotamab deruxtecan (Dato-DXd) in combination with pembrolizumab with or without platinum chemotherapy demonstrated promising clinical activity and a tolerable safety profile in patients with previously untreated or pretreated, advanced or metastatic non-small cell lung cancer (NSCLC) without actionable genomic alterations.
