GMS Investor Conference Presentation Deck
Income Before Taxes to Adjusted Net Income
($ in 000s)
(Unaudited)
Income before taxes
EBITDA adjustments
Write-off of debt discount and deferred financing fees
Purchase accounting depreciation and amortization (A)
Adjusted pre-tax income
Adjusted income tax expense
Adjusted net income
Effective tax rate (B)
Weighted average shares outstanding:
Basic
Diluted
Adjusted net income per share:
Basic
Diluted
Reconciliation
GMS
GYPSUM MANAGEMENT & SUPPLY, INC.
$
1Q24
$ 113,564 $ 121,500
6,469
7,875
1,401
10,915
133,755
34,108
99,647
25.5%
$
$
40,749
41,477
1Q23
2.45
2.40
13,278
141,247
36,018
$ 105,229
25.5%
42,549
43,317
$
2.47
$ 2.43
Commentary
A. Depreciation and amortization from the
increase in value of certain long-term
assets associated with the April 1, 2014
acquisition of the predecessor company
and amortization of intangible assets
from the acquisitions of Titan, Westside
Building Materials, and AMES Taping
Tools
B. Normalized cash tax rate determined
based on our estimated taxes excluding
the impact of purchase accounting and
certain other deferred tax amounts
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