GMS Inc., a leading North American specialty building products distributor, has reported its financial results for the fourth quarter and full fiscal year 2025, which ended on April 30, 2025. The company reported a net sales decrease of 5.6% to $1.33 billion for the fourth quarter compared to the same period in fiscal 2024, with organic net sales declining by 9.7%. On a per day basis, net sales were down 4.1%, and organic net sales decreased by 8.3%. Net income for the fourth quarter decreased significantly by 53.7% to $26.1 million, or $0.67 per diluted share, compared to $56.4 million, or $1.39 per diluted share, in the previous year. The net income margin contracted to 2.0% from 4.0%. For the full fiscal year 2025, GMS reported a slight increase in net sales of 0.2% to $5.51 billion, despite a 5.8% decrease in organic net sales. Per day basis net sales rose by 0.6%, while organic net sales dropped by 5.4%. The company's net income for the year fell by 58.2% to $115.5 million, impacted by a $42.5 million non-cash goodwill impairment charge in the third quarter. Adjusted net income was $244.0 million, down 30.7% from $352.0 million in the prior year. Adjusted EBITDA also decreased by 18.6% to $500.9 million, with a margin decline of 210 basis points to 9.1%. GMS remains optimistic about the future, with President and CEO John C. Turner, Jr. expressing cautious optimism for fiscal 2026 as the company anticipates potential improvements in the macro-environment and pent-up demand. Despite current challenges, the company has maintained a strong balance sheet with no near-term maturities and is actively pursuing strategic acquisitions, greenfield expansions, debt reduction, and opportunistic share repurchases. Resilient pricing in Wallboard, Ceilings, and Complementary Products contributed to the results, although the environment remains challenging with pressures from interest rates and market conditions.