Builders FirstSource Releases Inaugural Corporate Social Responsibility Report
DALLAS, May 23, 2022 (GLOBE NEWSWIRE) -- Builders FirstSource, Inc. (NYSE: BLDR) (the “Company”), the nation’s largest supplier of structural building products, value-added components and services to the professional market for new residential construction and repair and remodeling, today announced that it has published its inaugural Corporate Social Responsibility (CSR) report. The report offers an overview of the comprehensive initiatives and programs the Company has implemented to improve transparency and sustainability throughout the organization for the betterment of its team members, shareholders and partners. The report can be viewed by clicking here.
Builders FirstSource is a company founded on the principles of adhering to the highest standards of safety, integrity and excellence, while prioritizing the needs of its people and customers. The report details the steps the Company has taken to improve corporate governance, financial strength, operational efficiency, environmental stewardship, community engagement and resource management.
“At Builders FirstSource, we pride ourselves on using our scale and resources to build a more sustainable future for all of our stakeholders,” said Dave Flitman, President and CEO of Builders FirstSource. “We are proud of our efforts on this front and are committed to doing even more going forward as part of our mission to be a responsible and trusted partner for our communities and planet. Our CSR report provides an overview of the actions we have taken to become a better corporate steward for all, and we are pleased to report on our progress in this regard for the first time. It’s an honor to lead this incredible organization, and I am energized by the opportunities that exist to further strengthen our social impact.”
Highlights from the Builders FirstSource inaugural CSR report include:
- Delivering an 18% reduction in recordable injuries across the Company in 2021
- Launching diversity, equity and inclusion trainings for all team members
- Monitoring the composition of the workforce across functions and increasing recruiting from more diverse sources
- Contributing over $2 million to various charitable initiatives
- Sourcing over 90% of wood products from sustainable forestry certified vendors
- Tracking the benefits of material waste savings resulting from the use of our READY-FRAME® product and industry-leading off-site component manufacturing, saving over 3 million trees from 2019 through 2021
- Utilizing water-based paints to reduce hazardous waste risks to our team members and the environment
- Implementing a nationwide delivery routing system to maximize vehicle efficiency, save costs and minimize emissions
- Monitoring vehicle idle time and providing financial incentives to minimize idling and reduce emissions
- Introducing electric forklifts and clean-burning diesel delivery vehicles to reduce carbon emissions, and committing to integrating zero-emission vehicles into our fleets
- Upgrading lighting to LEDs to save energy, reduce carbon emissions and improve safety through better visibility
- Installing overhead fans to reduce air conditioning and related power usage
- Implementing measures to ensure appropriate and ethical business conduct and relations, such as robust accounting systems to monitor and detect potential financial irregularities, including regular reporting to the Board of Directors
Builders FirstSource intends to publish an updated CSR report on an annual basis.
About Builders FirstSource
Headquartered in Dallas, Texas, Builders FirstSource is the largest U.S. supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. We provide customers an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. We operate in 42 states with approximately 565 locations and have a market presence in 47 of the top 50 and 85 of the top 100 MSA’s, providing geographic diversity and balanced end market exposure. We service customers from strategically located distribution and manufacturing facilities (certain of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other building products.
Statements in this news release and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about expected market share gains, forecasted financial performance or other statements about anticipations, beliefs, expectations, hopes, synergies, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. As with the forward-looking statements included in this release, these forward-looking statements are by nature inherently uncertain, and actual results may differ materially as a result of many factors. All forward-looking statements are based upon information available to Builders FirstSource, Inc. on the date this release was submitted. Builders FirstSource, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the continuing COVID-19 pandemic, the Company’s growth strategies, including gaining market share and its digital strategies, or the Company’s revenues and operating results being highly dependent on, among other things, the homebuilding industry, lumber prices and the economy, including labor and supply shortages. Builders FirstSource, Inc. may not succeed in addressing these and other risks. Further information regarding factors that could affect our financial and other results can be found in the risk factors section of Builders FirstSource, Inc.’s most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and in the other reports filed by the Company with the SEC. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein.
SVP, Investor Relations
Builders FirstSource, Inc.
ICR for Builders FirstSource, Inc.