PALM BEACH, Fla., April 02, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Global and north American building products distribution market has been steadily increasing in past years and is expected to continue for the years to come. A building product report said that: “Looking forward to 2025 and beyond, there is cautious optimism for the building products sector following a year of foundational growth in 2024. The Federal Reserve has heeded data indicating lower inflation and a cooling labor market, opting to cut the benchmark interest rate by 50 basis points in mid-September. This was the FOMC’s first decision to ease monetary policy in four years, which, overlaid with market expectations for an additional 50 basis points of cuts by year-end 2024, has improved the outlook for construction spending and activity in both residential and non-residential markets moving forward.” It continued saying that; “The building products distribution market in North America and Europe is massive, topping $800 billion, and is expected to grow 5-9% through 2031, driven by private and public investment and economic growth. The building materials distribution market in North America and Europe is a massive market, topping $800 billion.” Active companies active in the markets include: Capstone Holding Corp. (NASDAQ: CAPS), QXO, Inc. (NYSE: QXO), CEMEX, S.A.B. de C.V. (NYSE: CX), Masco Corporation (NYSE: MAS), Titan America SA (NYSE: TTAM).
The report added: “Through mid-October 2024, the residential building products market has been characterized by muted demand resulting in continued underperformance. The rapid rise in mortgage rates in 2022 and 2023 has created “gridlock” in the housing market – whereby existing homeowners, who would be sellers in a lower interest rate environment, have deferred transacting due to the historic differential between their existing mortgage rate (sub-4% for most), and current market rates (~6.5%). This “gridlock” has limited the supply of homes available-for-sale, keeping prices elevated. Record-high prices of homes available-for-sale, combined with higher mortgage rates, continues to put homeownership out of reach for many prospective first-time buyers, forcing them to remain on the sidelines until conditions improve. This has resulted in lower home sale activity, which has driven down renovation spending – much of which is performed in connection with the purchase or sale of a home. However, there is optimism on the horizon – September’s rate cut has the market on the precipice of a seismic shift, supported by structural long-term demand. As of the end of 2023, the shortage of single-family housing was estimated at more than 7.2 million units. With over 100 million individuals set to cross the median homebuying age of thirty-four by 2040, there is likely to be strong, sustained demand for new residential construction. “
Capstone Holding Corp. (NASDAQ: CAPS) Targets $100M Run Rate Increases Q4 Revenue and Executes Strategic Brand Expansion – Revenue Up over 8% in Q4 Year-Over-Year – Toro Stone Launched in 6 New States – Capstone Holding Corp. (the “Company” or “Capstone”), a national building products distribution company that has successfully grown its business organically and through well-timed acquisitions, announced financial results for the full year ended December 31, 2024.
Matt Lipman, CEO of Capstone, said, “I’m proud of the team’s execution and focus on growth in the second half of the year. As the parent company, our mission is clear: double the size of the business through targeted, strategic acquisitions – and we believe we’re well on our way. We remain focused on scaling efficiently.”
The Company is targeting an operating company revenue run rate by the end of 2025 of $100 million and Adjusted Instone EBITDA of at least $10 million. (The $100 million revenue and $10 million Adjusted Instone EBITDA numbers are targets for 2025 that include anticipated acquisitions. As these targets are dependent on closing acquisitions during 2025, the Company is unable to include a reconciliation of forward-looking non-GAAP results to the corresponding GAAP measures as they are not available without unreasonable effort due to the uncertainties regarding the future identification and closing of acquisition targets.)
Kevin Grotke, CEO of TotalStone, LLC (dba “Instone”), a wholly owned operating subsidiary of Capstone and its primary business activity, said, “I’m incredibly proud of our team’s execution and their sharp focus on customer acquisition and top-line growth. Their efforts have laid a strong foundation for continued success, and I’m excited to see the momentum carry into 2025 as we work toward achieving our ambitious goals – particularly the growth of our proprietary brands.”
Capstone continues to position itself as a premier, national platform in the building products space. The Company is expanding its geographic footprint, strengthening its portfolio of proprietary brands, and delivering exceptional value to customers and stakeholders alike.
FY 2024 Corporate and Operational Highlights – Set Acquisition Strategy for 2025:
- Focused on Tuck-In Acquisitions, Sister Companies, and Platform Acquisitions
- Deal environment and structures remain favorable
- Acquisition multiples of 4-6x EBITDA
- 20%- 45% of consideration as non-cash
- Majority of activity centers around strategic Tuck-In Acquisitions to accelerate Instone’s earnings. Multiple sister company opportunities currently under review
Q4 Revenue and Unit Volume Growth:
- Instone delivered over 8% year-over-year revenue growth in the fourth quarter of 2024
Successful Launch of Toro Stone:
- Installed 90 displays across 6 new states
- Received orders from over 50 customers
Operational Efficiencies:
- Completed targeted cost reduction initiatives
- Achieved improved gross margins
For more details, see Capstone’s annual report on the Form 10-K, available online, here. A detailed power point presentation of the Fiscal 2024 Update and targets for 2025 can be found online, here. Matt Lipman has also recorded a discussion of the presentation that is available at the same website. CONTINUED… Read this and more news for Capstone Holding Corp. at: https://capstoneholdingcorp.com/news/.
In other developments and happenings in the markets recently include:
QXO, Inc. (NYSE: QXO) announced recently that it is extending its all-cash tender offer to acquire all outstanding shares of Beacon Roofing Supply, Inc. (BECN) and amending the terms of its pending tender offer to reflect the terms of the previously announced definitive merger agreement between Beacon and QXO, including to increase the offer price to $124.35 per share in cash and reflect such other changes as contemplated by the merger agreement.
Beacon’s board of directors unanimously recommends that all shareholders tender their shares into the offer, and has amended its recommendation statement on Schedule 14D-9 in support of the amended offer. The tender offer will remain open until 5:00 p.m. (New York City time) on April 14, 2025.
CEMEX, S.A.B. de C.V. (NYSE: CX) presented its 2024 Integrated Report recently, titled Our Future in Action: Accelerating a Sustainable World, showcasing its operational and strategic performance in 2024. The year 2024 was marked by solid financial results, the recovery of Cemex’s investment-grade rating, and progress in its decarbonization agenda in alignment with Cemex’s 2030 targets.
In 2024, Cemex achieved the second-strongest sales and Operating EBITDA in its recent history, alongside the highest free cash flow after maintenance capital expenditures since 2017. The company also made significant progress on its decarbonization targets through its Future in Action program, continuing to lead the industry in profitable decarbonization efforts.
“Our global team’s focused and committed efforts have advanced a business model with sustainable attributes, seeking to ensure both environmental progress and long-term value creation for Cemex,” said Fernando A. González, CEO of Cemex. “This year’s report demonstrates strategic progress in executing our growth strategy, reinforces our commitment to our Future in Action program, and underscores the power of going beyond traditional social responsibility to support our climate action goals.”
Masco Corporation (NYSE: MAS) announced recently that it will hold a conference call regarding 2025 first quarter results on Wednesday, April 23, 2025, at 8:00 a.m. ET. The conference call will be hosted by Masco President and Chief Executive Officer Keith Allman. Participants in the call are asked to register five to ten minutes prior to the scheduled start time by dialing 800-549-8228 or 289-819-1520. Please use the conference identification number 30320.
The 2025 first quarter results and supplemental material will be distributed at 7:00 a.m. ET on April 23 and will be available on the Company’s website at www.masco.com.
The conference call will be webcast simultaneously and in its entirety through the Masco Corporation website. Shareholders, media representatives and others interested in Masco may participate in the webcast by registering through the Investor Relations section on the Company’s website.
Titan America SA (NYSE: TTAM), a leading fully-integrated producer and supplier of building materials, services and solutions in the construction industry operating along the U.S. East Coast, recently announced its fourth-quarter and full-year 2024 financial results. Titan America SA, including its wholly-owned operating subsidiary, Titan America LLC, shall be referred to herein as “Titan America.”
“In our first earnings announcement as a public company, we are pleased to report strong full-year financial results, while continuing to invest in Titan America’s future growth,” said Bill Zarkalis, President & CEO of Titan America. “Our uniquely vertically integrated business model, comprehensive logistics network, and strategic positioning led to record full-year 2024 results, with our sales volumes outperforming the broader market. We’re confident about the long-term secular trends in our markets, including infrastructure modernization, resilient urbanization, and manufacturing reshoring along the Eastern Seaboard of the United States. Looking ahead, we are poised for another solid year of growth and enhanced profitability in 2025.”
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