What caused BLDR's Q3 2024 EPS to fall below forecasts?

Builders FirstSource's (BLDR) Q3 2024 EPS fell below forecasts due to a combination of factors:

1. Weaker-than-Expected Single-Family Starts: This was a significant contributor to the decline in earnings and sales. Single-family starts are a critical component of the housing market, and lower-than-expected figures indicate challenges in this segment.
2. Slowing Multi-Family Segment: The Multi-Family segment experienced a slowdown, which also impacted overall performance. This normalization in the Multi-Family segment is a key factor in the erosion of gross profit margin and net income.
3. Broader Housing Affordability Challenges: These challenges are more broadly indicative of the housing market's health and directly impact demand for building materials and services. The affordability crisis has led to a decrease in overall sales and profitability.

In summary, BLDR's Q3 2024 EPS fell below forecasts due to weaker Single-Family starts, a slowdown in the Multi-Family segment, and broader housing affordability challenges. These factors collectively paint a picture of a company navigating a challenging housing market environment.