Builders FirstSource cuts annual revenue forecast for 2025
on Thursday trimmed its annual revenue forecast, after reporting a decline in first-quarter profit and sales due to persistently weak
housing construction
as well as affordability issues.
Elevated
mortgage rates
and tariff-driven macroeconomic uncertainty have prompted potential customers to reconsider buying homes, leading to suppressed demand for new houses.
Shares of the Irving, Texas-based company, which supplies building materials and products for home construction, were down 2.4% in morning trading following the results.
It forecast 2025 net sales between $16.05 billion and $17.05 billion, compared with a prior view of $16.5 billion to $17.5 billion.
Builders FirstSource expects its full-year single-family starts to be down mid-single digits and multi-family starts down mid-teens.
The company's adjusted profit came in $1.51 per share in the three months ended March 31, below $2.65 per share a year ago.
However, the quarterly profit surpassed analysts' average estimate of $1.37 per share, according to data compiled by LSEG.
The building solutions provider's first-quarter net sales fell 6% to $3.66 billion from a year ago, hurt by one fewer selling day and commodity deflation.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
37 minutes ago
- Time of India
‘From one chaiwala to another': Meet Akhil Patel, Indian-origin entrepreneur who serves tea to PM Modi in UK
During his recent visit to the UK, Prime Minister Narendra Modi shared a photo of himself enjoying a cup of tea served by Akhil Patel , an Indian-origin entrepreneur and founder of the UK-based tea company, Amala Chai. ''Chai Pe Charcha' with PM Keir Starmer at Chequers... brewing stronger India-UK ties!,' PM Modi captioned his post, which included two images—one of him holding a cup of tea and another of Patel pouring it. — narendramodi (@narendramodi) Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing CXO Data Analytics Degree Others Healthcare Finance Management Project Management Data Science Technology Operations Management Design Thinking Product Management Public Policy PGDM MCA healthcare Leadership MBA Data Science others Artificial Intelligence Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details A video of Patel engaging with PM Modi is gaining traction on social media. In the clip, Patel is seen pouring tea and humorously remarking, "from one chaiwala to another." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Who is Akhil Patel? As per his LinkedIn profile, Patel attended University College School in Hampstead, London, before pursuing a Bachelor of Science (BSc) in Management at the London School of Economics and Political Science (LSE). While at university, he completed internships at several organisations and later worked as a data analyst post-graduation. However, in 2019, Patel decided to change his career path and launched Amala Chai, a venture inspired by his grandmother. Live Events According to the company's LinkedIn page, Amala Chai sources its Indian tea and spices directly from 'small family farms in Assam and Kerala.' In May, the British Museum spotlighted the brand in a video that showcased how Amala Chai procures its ingredients from India. Though Patel has not commented on the moment via his personal social media, a video was shared on Amala Chai's official Instagram page with the caption: "Just a casual Thursday serving chai for @narendramodi @keirstarmer What a crazy day! Beyond honoured. We'll be sharing the full story with you next week so keep your eyes peeled!' The clip features both PM Modi and UK PM Keir Starmer sipping tea served by Patel.
News18
an hour ago
- News18
‘Sunjay Kapur's Death Suspicious: Mother Says ‘More Than What Meets The Eye' At Sona Comstar
Seeking deferment of the annual general meeting, Rani Kapur has alleged: 'My son tragically passed away under highly suspicious and unexplained circumstances in the UK." A month after the sudden death of industrialist Sunjay Kapur, his mother Rani Kapur, in a letter to his company Sona Comstar and Securities and Exchange Board of India (SEBI), has questioned the 'suspicious circumstances", saying there is 'more than what meets the eye". News18 reached out to MD Vikram Singh, but no response was received at the time of publishing the report. Kapur was the chairman of Sona Comstar, a leading automotive components firm with global operations, including manufacturing for EVs across India, China, Mexico, Serbia, and the US. Kapur, 53, died on June 12, following a heart attack during a polo match triggered allegedly by a bee sting. Reportedly, he was the 2703th wealthiest individual in the world. His publicly listed company was valued at Rs 40,000 crore. Noted, Sona Comstar was founded by his father, Surinder Kapur, in 1997. Seeking deferment of the annual general meeting, Rani has alleged: 'As you are aware, on 12.06.2025, my son Mr. Sunjay Kapur tragically passed away under highly suspicious and unexplained circumstances in the United Kingdom. Despite all attempts, I am not able to receive answers about my son's death. Despite me seeking information, I have been unable to receive any relevant answers and documents explaining the incident and have been confined to the knowledge and version set out by the media. While we're in mourning, some people trying to usurp family legacy." Rani said that she has been compelled to sign documents, which she has not even read or understood. 'Please take note that during the aforesaid period of grieving, I was approached multiple times and compelled to sign various documents without explanation or even having time to read and understand the same. Despite being under immense mental and emotional distress, I was coerced into signing such documents behind locked doors and though I've requested repeatedly, the contents of such documents have never been revealed to me," she said. Denied access to accounts, haven't allowed addition to board: Rani Kapur She maintained that she has not given her consent to add anyone to the board of Sona group of companies. Rani claimed she has been 'totally denied access" to her accounts. 'I have been left to the mercy of a select few for survival. All this, in less than a month of my only son passing," she said. Changes at Sona Comstar after Sunjay Kapur's death Sunjay Kapur is survived by his wife, Priya Sachdev Kapur, a Delhi-based model-turned-entrepreneur, whom he married in 2017. The couple has a son, Azarias Kapur, born in December 2018. Kapur also has two children from his marriage to actor Karisma Kapoor: Samaira, 20, and Kiaan Raj Kapur, 14. In recognition of his contributions, the board unanimously named Late Sunjay Kapur as Chairman Emeritus. Sona BLW Precision Forgings Ltd, popularly known as Sona Comstar, has appointed Jeffrey Mark Overly as the new chairperson of its board of directors following the untimely demise of Sunjay Kapur. The board has also appointed Priya Sachdev Kapur, wife of the late chairman, as an additional non-executive director of the company. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hindustan Times
2 hours ago
- Hindustan Times
DLF sells all 416 luxury apartments worth ₹2,300 crore in its debut Mumbai project
Delhi-NCR-based real estate major DLF announced on July 25 that it has sold out all four towers launched under Phase 1 of its debut luxury project in Mumbai, 'The WestPark' in Andheri. Launched just a week earlier on July 17, the project has generated sales worth ₹2,300 crore, the company said. Delhi-NCR-based real estate major DLF announced on July 25 that it has sold out all four towers launched under Phase 1 of its debut luxury project in Mumbai, 'The WestPark' in Andheri. (Representational Image)(File Photo ) In a regulatory filing on July 25, DLF said that the 416 units launched in the first phase of 'The Westpark' project were sold for ₹2,300 crore in less than a week. According to the company, the sellout highlights its strategic expansion into key regions across western India. On July 17, DLF, in partnership with Trident Realty, launched 416 apartments in four towers in the Andheri West area of Mumbai. The companies will invest nearly ₹900 crore to develop this luxury housing project. According to the company, the entire project is spread across 10 acres and will feature a mix of 3 BHK and larger apartments ranging from 1,125 sq ft to 2,500 sq ft. In the first phase, apartments are priced between ₹37,500 and ₹54,000 per sq ft. The development will also include 845 dedicated car parking spaces, along with separate visitor parking facilities. Also Read: DLF eyes more projects in Mumbai's real estate market, but focus remains on Andheri for now The project will feature a 50,000 sq ft clubhouse equipped with many amenities, including a wellness hub, yoga studios, meditation decks, co-working spaces, lounges, and several other lifestyle facilities. 'Our entry into Mumbai represents a significant strategic milestone for DLF. Mumbai has always been a key component of our national growth strategy, and with the launch of The Westpark, we are proud to offer a development that resonates with the aspirations of the city's discerning residents," said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. "We are both humbled and gratified by the overwhelming response, the inventory for Phase 1 of the project has been completely sold out, a remarkable outcome in a market typically characterised by gradual absorption. Initially, we launched only two of the four planned towers, but due to exceptional demand, we brought all four towers to market, resulting in the sellout of all 416 units," Ohri said. The company said that the development will comprise eight architecturally distinctive towers. The first phase will introduce four towers, each 37 storeys high and offering a total of 416 residences. The homes include a select mix of spacious 3—and 4-BHK residences ranging from 1,125 to 2,500 sq ft, along with a limited number of penthouses. According to the company, the project is designed by globally renowned architecture firm HB Design. With structural expertise from Thornton Tomasetti, interiors by BLINK, and landscaping by SHMA, it brings together international design sensibilities and a local context. The residences feature refined interior layouts, expansive decks, and full-height windows offering sweeping views, balancing privacy and openness, the company said in a statement. The company said that the projects' central feature is the 6,000 sq. metre (~1.46-acre) landscaped podium, the 'Eco Deck', which serves as the green heart of the development. The podium links all the towers and features lush gardens, panoramic views, and a signature 25-meter pool with a tropical leaf-patterned floor, the company said in the statement. It creates the ambience of a tropical forest in the heart of the city. Also Read: Mumbai real estate: All you need to know about the Andheri West real estate market as DLF launches its first project DLF's re-entry into Mumbai DLF announced its re-entry into the Mumbai real estate market in July 2023. The company's first project in the city will be developed in partnership with the Trident Group under the Slum Rehabilitation Authority scheme. In 2005, DLF had purchased 17 acres of prime mill land in Lower Parel at a National Textile Corporation auction for ₹704 crore, the highest bid at the time. After the 2008 economic crisis, it changed its plans and sold the land to Lodha, also known as Macrotech Developers, for ₹2,700 crore in 2012.
