GMS announces acquisition, earnings

Gypsum Management & Supply Inc. reported Q2 net sales of $1.15 billion, up 41.5 from a year ago. Net income increased 161.2 percent to $74.4 million, or $1.69 per diluted share, from $28.5 million ($0.66) in Q2 of 2021.

At the same time, the company announced the completion of its acquisition of Ames Taping Tools. It also provided an update on its acquisition of Kimco Supply Co. in Florida and the opening of a new greenfield location in Johnson City, Tenn.