Related posts: Building materials: part 1 Building materials: part 2a (LPX, JHX) Building materials: part 2b (TREX, AZEK) In Part 1 of this series, I described the steps by which an ocean of building materials are titrated out to end users. Below is a stylized illustration of the value chain from the perspective of BlueLinx, […]
I finally got around to looking at GNRC this past week. Given the stock’s ostensibly low earnings multiple and a share price that has gotten hammered over the last several years on what appears to be mostly cyclical reasons, I wanted to like the company but couldn’t get there. Disclosure is spotty, management seems slippery, […]
LEN’s y/y home delivery growth has decelerated significantly over the last several years (from mid-teens in fy14 to 9.5% LTM), but in chorus with other builders, the company is singing an optimistic refrain post-Trump. “Since November we have seen a combination of renewed optimism, wage and job growth, and consumer confidence. As a result, our homebuilding […]