July 31 - Builders FirstSource BLDR.N cut its annual revenue forecast on Thursday due to reduced construction volumes in single- and multi-family homes.
High mortgage rates and tariff-related headwinds have led potential buyers to delay home purchases, dampening demand for new housing.
Shares of the Irving, Texas-based company that supplies building materials and products for home construction were down 7% in premarket trading.
New home sales in June fell 6.6%, while inventory reached its highest level since October 2007, according to U.S. government data.
Net sales in the multi-family segment fell 23.3% year-over-year, marking a sharp downturn, while the single-family segment also faced pressure, slipping 9.1% from a year ago.
It forecast 2025 net sales between $14.8 billion and $15.6 billion, compared with a previous forecast of $16.05 billion to $17.05 billion.
The company's second-quarter adjusted profit came in at $2.38 per share, compared to $3.50 per share from a year earlier. Analysts on average had expected $2.28 per share, according to data compiled by LSEG.
Its quarterly net sales fell 5% to $4.23 billion, compared to an estimate of $4.28 billion.
(Reporting by Apratim Sarkar; Editing by Pooja Desai)
((Apratim.Sarkar@thomsonreuters.com;))
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