GMS earnings fall on higher sales

Gypsum Management & Supply reported that net earnings for the first quarter of its fiscal year 2024 declined by 3.0 percent to $86.8 million, compared to $89.5 million a year earlier. On an adjusted basis, earnings of $2.09 per share were up from $2.07 in the previous Q1, owing to share buybacks valued at $117.4 million. Net sales grew by 3.7 percent to $1.4 billion from $1.36 billion in the comparable period of fiscal 2023.