Following weak endorsements from two major credit rating agencies, Builders FirstSource has abandoned plans to offer $250 million worth of senior secured notes due 2019 and update its senior secured revolving credit arrangements. More
Builders FirstSource, as part of its plans to seek a refinancing of senior debt, forecast that it will post a loss of $9 million to $12 million this quarter using its adjusted EBITDA measuring stick, improving from a $15.3 million adjusted EBITDA loss in 2010's first quarter, on relatively flat sales of $160 million to $165 million. More
Builders FirstSourcewill offer $250 million worth of senior secured notes due in 2019 that it will use in part to pay off similar notes that fall due next year and in 2016. Moody's and S&P both assigned relatively low ratings to those notes. More
While new-home building lags, remodelers are seeing steady gains. One reason why: Foreclosures. More
Even though housing starts continue to lag, many signs point to the beginning of the long awaited economic recovery, LBM marketing executive Mark Mitchell says. This is good news! But beware; your business can fail just as easily during a recovery as a downturn. More
BlueLinx swung to a net loss of $20.2 million in the fourth quarter from a $12 million net profit in the year-earlier quarter that was due almost entirely to $23.6 million in tax benefits. More
Masco Corp. announced an operating loss of $798 million dollars during the fourth quarter of 2010, a huge increase over the $197 million operating loss the company posted during the same period in 2009. More
The National Lumber and Building Material Dealers Association added its voice to the housing industry's call against efforts to eliminate the mortgage interest deduction, even as the NLBMDA favored a legislative and regulatory policy agenda that echoes the surge in pro-business, anti-regulation attitude in Washington. More
The National Lumber and Building Material Dealers Association applauded Congress for approving a tax bill that contains provisions to stimulate the economy and provide extra depreciation and expensing, but booed the Senate and House for failing to pass other proposals that could have helped dealers. More
Fortune Brands announced it will spin off its home and security division--a group that includes Moen faucets, MasterBrand Cabinets, Therma-Tru doors, Simonton windows, and Master Lock--into an independent, publicly traded company with annual sales topping $3 billion. More
