GMS Inc. (GMS) reported stronger-than-expected fiscal Q2 results. Driven by an all-time high product inflation and ongoing strength in the residential market, the company exceeded both earnings and revenue estimates. Following the results, shares of the distributor of wallboard and suspended ceiling systems, and complementary interior construction products gained 2.4% on December 2. (See GMS stock chart on TipRanks) See Insiders’ Hot Stocks on TipRanks >> Q2 Beat In Q2, adjusted earnings of $1.69 per share more than doubled year-over-year, exceeding analysts’ expectations of $1.60 per share. The company reported earnings of $0.66 per share for the prior-year period. In addition, net sales jumped 41.5% year-over-year to $1.15 billion, exceeding consensus estimates of $1.06 billion.
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