Bain-Backed Building Materials Firm Sees Earnings Decline

US LBM Holdings, a building materials distributor that was acquired by Bain Capital Private Equity, saw its earnings drop in the quarter ended Sept. 30 and reported a $500 million dividend to shareholders, according to people familiar with the matter.

• The company reported an 18% year-over-year decline in revenue to around $2.14 billion, said the people, who asked not to be identified discussing private information
• It posted adjusted earnings before interest, taxes, depreciation and amortization of $270 million, down 33% year-over-year
• The firm also disclosed a $500 million dividend to current shareholders, the people added
• Platinum Equity agreed last ...