GMS Inc. Q3 Adj. Profit Declines

(RTTNews) - GMS Inc. (GMS) reported third quarter net income of $51.9 million, or $1.28 per share, compared to net income of $64.8 million, or $1.53 per share, a year ago. Adjusted net income was $65.0 million, or $1.60 per share, compared to $78.3 million, or $1.85 per share, previous year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.60, for the quarter. Analysts' estimates typically exclude special items.

Third quarter net sales were $1.3 billion, up 1.9% from last year. Organic net sales decreased 0.2%, for the quarter. Analysts on average had estimated $1.26 billion in revenue.

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