GMS (GMS) 10-Q 2 Sep 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jul. 31, 2021	Aug. 31, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2021
Document Transition Report	false
Entity File Number	001-37784
Entity Registrant Name	GMS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2931287
Entity Address, Address Line One	100 Crescent Centre Parkway
Entity Address, Address Line Two	Suite 800
Entity Address, City or Town	Tucker
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30084
City Area Code	(800)
Local Phone Number	392-4619
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	GMS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,148,444
Entity Central Index Key	0001600438
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Current assets:
Cash and cash equivalents	$ 43,590	$ 167,012
Trade accounts and notes receivable, net of allowances of $6,989 and $6,282, respectively	656,878	558,661
Inventories, net	470,249	357,054
Prepaid expenses and other current assets	21,812	19,525
Total current assets	1,192,529	1,102,252
Property and equipment, net of accumulated depreciation of $201,441 and $193,364, respectively	323,967	311,326
Operating lease right-of-use assets	138,279	118,413
Goodwill	587,331	576,330
Intangible assets, net	395,647	350,869
Deferred income taxes	17,584	15,715
Other assets	8,744	8,993
Total assets	2,664,081	2,483,898
Current liabilities:
Accounts payable	329,452	322,965
Accrued compensation and employee benefits	48,589	72,906
Other accrued expenses and current liabilities	117,107	87,138
Current portion of long-term debt	46,687	46,018
Current portion of operating lease liabilities	36,437	33,474
Total current liabilities	578,272	562,501
Non-current liabilities:
Long-term debt, less current portion	1,016,036	932,409
Long-term operating lease liabilities	102,196	90,290
Deferred income taxes, net	15,055	12,728
Other liabilities	75,279	63,508
Total liabilities	1,786,838	1,661,436
Commitments and contingencies
Stockholders' equity:
Common stock, par value $0.01 per share, 500,000 shares authorized; 43,083 and 43,073 shares issued and outstanding as of July 31, 2021 and April 30, 2021, respectively	431	431
Preferred stock, par value $0.01 per share, 50,000 shares authorized; 0 shares issued and outstanding as of July 31, 2021 and April 30, 2021	0	0
Additional paid-in capital	542,587	542,737
Retained earnings	335,737	274,535
Accumulated other comprehensive (loss) income	(1,512)	4,759
Total stockholders' equity	877,243	822,462
Total liabilities and stockholders' equity	$ 2,664,081	$ 2,483,898

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Statement of Financial Position [Abstract]
Trade accounts and notes receivable, allowances (in dollars)	$ 6,989	$ 6,282
Property and equipment, accumulated depreciation (in dollars)	$ 201,441	$ 193,364
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	43,083,000	43,073,000
Common stock, shares outstanding (in shares)	43,083,000	43,073,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Income Statement [Abstract]
Net sales	$ 1,042,076	$ 802,573
Cost of sales (exclusive of depreciation and amortization shown separately below)	706,243	542,115
Gross profit	335,833	260,458
Operating expenses:
Selling, general and administrative	214,081	183,112
Depreciation and amortization	27,714	27,097
Total operating expenses	241,795	210,209
Operating income	94,038	50,249
Other (expense) income:
Interest expense	(13,657)	(14,081)
Other income, net	792	655
Total other expense, net	(12,865)	(13,426)
Income before taxes	81,173	36,823
Provision for income taxes	19,971	9,604
Net income	$ 61,202	$ 27,219
Weighted average common shares outstanding:
Basic (in shares)	43,089	42,624
Diluted (in shares)	43,972	43,017
Net income per common share:
Basic (in dollars per share)	$ 1.42	$ 0.64
Diluted (in dollars per share)	$ 1.39	$ 0.63
Comprehensive income
Net income	$ 61,202	$ 27,219
Foreign currency translation (loss) income	(8,233)	16,281
Changes in other comprehensive income, net of tax	1,962	959
Comprehensive income	$ 54,931	$ 44,459

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Apr. 30, 2020		42,554
Beginning balance at Apr. 30, 2020	$ 633,981	$ 426	$ 529,662	$ 168,975	$ (65,082)
Increase (Decrease) in Stockholders' Equity
Net income	27,219			27,219
Foreign currency translation adjustments	16,281				16,281
Other comprehensive income, net of tax	959				959
Equity-based compensation	1,575		1,575
Exercise of stock options (in shares)		54
Exercise of stock options	691		691
Vesting of restricted stock units (in shares)		7
Tax withholding related to net share settlements of equity awards	(105)		(105)
Issuance of common stock pursuant to employee stock purchase plan (in shares)		58
Issuance of common stock pursuant to employee stock purchase plan	1,270	$ 1	1,269
Ending balance (in shares) at Jul. 31, 2020		42,673
Ending balance at Jul. 31, 2020	$ 681,871	$ 427	533,092	196,194	(47,842)
Beginning balance (in shares) at Apr. 30, 2021	43,073	43,073
Beginning balance at Apr. 30, 2021	$ 822,462	$ 431	542,737	274,535	4,759
Increase (Decrease) in Stockholders' Equity
Net income	61,202			61,202
Repurchase and retirement of common stock (in shares)		(85)
Repurchase and retirement of common stock	(3,855)	$ (1)	(3,854)
Foreign currency translation adjustments	(8,233)				(8,233)
Other comprehensive income, net of tax	1,962				1,962
Equity-based compensation	1,958		1,958
Exercise of stock options (in shares)		44
Exercise of stock options	863	$ 1	862
Vesting of restricted stock units (in shares)		8
Tax withholding related to net share settlements of equity awards	(256)		(256)
Issuance of common stock pursuant to employee stock purchase plan (in shares)		43
Issuance of common stock pursuant to employee stock purchase plan	$ 1,140		1,140
Ending balance (in shares) at Jul. 31, 2021	43,083	43,083
Ending balance at Jul. 31, 2021	$ 877,243	$ 431	$ 542,587	$ 335,737	$ (1,512)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash flows from operating activities:
Net income	$ 61,202	$ 27,219
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	27,714	27,097
Amortization of debt discount and debt issuance costs	642	753
Equity-based compensation	3,160	2,619
(Gain) loss on disposal and impairment of assets	(78)	394
Deferred income taxes	(140)	(5,241)
Other items, net	1,573	247
Changes in assets and liabilities net of effects of acquisitions:
Trade accounts and notes receivable	(73,479)	(23,013)
Inventories	(87,313)	14,008
Prepaid expenses and other assets	(1,491)	(3,782)
Accounts payable	(4,265)	(33,887)
Accrued compensation and employee benefits	(24,219)	(36,062)
Other accrued expenses and liabilities	21,617	13,937
Cash used in operating activities	(75,077)	(15,711)
Cash flows from investing activities:
Purchases of property and equipment	(6,814)	(4,745)
Proceeds from sale of assets	287	342
Acquisition of businesses, net of cash acquired	(123,049)	(210)
Cash used in investing activities	(129,576)	(4,613)
Cash flows from financing activities:
Repayments on revolving credit facilities	(102,872)	(58,083)
Borrowings from revolving credit facilities	195,049	14,421
Payments of principal on long-term debt	(1,278)	(2,492)
Payments of principal on finance lease obligations	(7,397)	(7,521)
Repurchases of common stock	(3,855)	0
Proceeds from exercises of stock options	863	691
Payments for taxes related to net share settlement of equity awards	(256)	(105)
Other financing activities	1,140	1,270
Cash provided by (used in) financing activities	81,394	(51,819)
Effect of exchange rates on cash and cash equivalents	(163)	943
Decrease in cash and cash equivalents	(123,422)	(71,200)
Cash and cash equivalents, beginning of period	167,012	210,909
Cash and cash equivalents, end of period	43,590	139,709
Supplemental cash flow disclosures:
Cash paid for income taxes	1,007	3,478
Cash paid for interest	$ 8,616	$ 13,115

Business, Basis of Presentation

Business, Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business, Basis of Presentation and Summary of Significant Accounting Policies	Business, Basis of Presentation and Summary of Significant Accounting Policies Business Founded in 1971, GMS Inc. (“we,” “our,” “us,” or the “Company”), through its wholly-owned operating subsidiaries, is a distributor of specialty building products including wallboard, suspended ceilings systems, or ceilings, steel framing and other complementary building products. We purchase products from many manufacturers and then distribute these goods to a customer base consisting of wallboard and ceilings contractors and homebuilders and, to a lesser extent, general contractors and individuals. We operate a network of more than 280 distribution centers across the United States and Canada. Basis of Presentation The condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) that permit reduced disclosure for interim periods. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair presentation of the results of operations, financial position and cash flows. All adjustments are of a normal recurring nature unless otherwise disclosed. The results of operations for interim periods are not necessarily indicative of results for any other interim period or the entire fiscal year. As a result, the unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2021. Principles of Consolidation The condensed consolidated financial statements present the results of operations, financial position, stockholders’ equity and cash flows of the Company and its subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. The results of operations of businesses acquired are included from their respective dates of acquisition. Use of Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Foreign Currency Translation Assets and liabilities of the Company’s Canadian subsidiaries are translated at the exchange rate prevailing at the balance sheet date, while income and expenses are translated at average rates for the period. Translation gains and losses are reported as a separate component of stockholders’ equity and other comprehensive income (loss). Gains and losses on foreign currency transactions are recognized in the Condensed Consolidated Statements of Operations and Comprehensive Income within other (expense) income, net. Insurance Liabilities The Company is self-insured for certain losses related to medical claims. The Company has stop-loss coverage to limit the exposure arising from medical claims. In addition, the Company has deductible-based insurance policies for certain losses related to general liability, workers’ compensation and automobile. The coverage consists of a deductible layer, a primary layer, a self-insured buffer layer, a lead umbrella layer and excess layers. The deductible amount per incident is $0.5 million, $1.0 million and $2.5 million for general liability, workers’ compensation and automobile, respectively. The primary layer of coverage is from $0.3 million, $0.5 million and $1.0 million for general liability, workers’ compensation, and automobile liability, respectively, to $5.0 million. The Company self-insures a buffer layer from $5.0 million to $10.0 million. The umbrella and excess layers cover claims from $10.0 million to $100.0 million. The expected ultimate cost for claims incurred as of the balance sheet date is not discounted and is recognized as a liability. Insurance losses for claims filed and claims incurred but not reported are accrued based upon estimates of the aggregate liability for uninsured claims using historical loss development factors and actuarial assumptions followed in the insurance industry. The following table presents the Company’s aggregate liabilities for medical self-insurance, reserves for general liability, automobile and workers’ compensation and the expected recoveries for medical self-insurance, general liability, automobile and workers’ compensation. Liabilities for medical self-insurance are included in other accrued expenses and current liabilities. Reserves for general liability, automobile and workers’ compensation are included in other accrued expenses and current liabilities and other liabilities. Expected recoveries for insurance liabilities are included in prepaid expenses and other current assets and other assets in the Condensed Consolidated Balance Sheets. July 31, April 30, (in thousands) Medical self‑insurance $ 3,736 $ 3,852 General liability, automobile and workers’ compensation 18,146 19,807 Expected recoveries for insurance liabilities (3,208) (3,209) Revenue Recognition Revenue is recognized upon transfer of control of promised goods to customers at an amount that reflects the consideration the Company expects to receive in exchange for those goods. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company includes shipping and handling costs billed to customers in net sales. These costs are recognized as a component of selling, general and administrative expenses. See Note 13, “Segments,” for information regarding disaggregation of revenue, including revenue by product and by geographic area. Income Taxes The Company considers each interim period an integral part of the annual period and measures tax expense (benefit) using an estimated annual effective income tax rate. Estimates of the annual effective income tax rate at the end of interim periods are, out of necessity, based on evaluation of possible future events and transactions and may be subject to subsequent refinement or revision. The Company forecasts its estimated annual effective income tax rate and then applies that rate to its year-to-date pre-tax ordinary income (loss), subject to certain loss limitation provisions. In addition, certain specific transactions are excluded from the Company’s estimated annual effective tax rate computation, but are discretely recognized within income tax expense (benefit) in their respective interim period. Future changes in the forecasted annual income (loss) projections, tax rate changes, or discrete tax items could result in significant adjustments to quarterly income tax expense (benefit) in future periods. The Company evaluates its deferred tax assets quarterly to determine if valuation allowances are required. In this evaluation, the Company considers both positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The primary negative evidence considered includes the cumulative operating losses generated in prior periods. The primary positive evidence considered includes the reversal of deferred tax liabilities primarily related to depreciation and amortization that would occur within the same jurisdiction and during the carryforward period necessary to absorb the federal and state net operating losses and other deferred tax assets. Deferred tax assets and liabilities are computed by applying the federal, provincial and state income tax rates in effect to the gross amounts of temporary differences and other tax attributes, such as net operating loss carry-forwards. In assessing if the deferred tax assets will be realized, the Company considers whether it is more likely than not that some or all of these deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which these deductible temporary differences reverse. Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of outstanding shares of common stock for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, including stock options and restricted stock units (collectively “Common Stock Equivalents”), were exercised or converted into common stock. The dilutive effect of outstanding stock options and restricted stock units is reflected in diluted earnings per share by application of the treasury stock method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amount of compensation cost attributed to future services and not yet recognized. Diluted earnings per share is computed by increasing the weighted-average number of outstanding shares of common stock computed in basic earnings per share to include the dilutive effect of Common Stock Equivalents for the period. In periods of net loss, the number of shares used to calculate diluted loss per share is the same as basic net loss per share. Reclassifications Certain amounts in the prior period financial statements have been reclassified to conform to the current year presentation. Recently Issued Accounting Pronouncements Reference Rate Reform – In March 2020, the Financial Accounting Standards Board ("FASB") issued new guidance to temporarily ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rates that are expected to be discontinued, such as the London Interbank Offered Rate ("LIBOR"). The guidance was effective upon issuance and generally can be applied through December 31, 2022. The Company expects to elect optional expedients and exceptions provided by the guidance, as needed, related to its debt instruments, which include interest rates based on a LIBOR rate. The Company will evaluate and disclose the impact of this guidance in the period of election, as well as the nature and reason for doing so.

Business Combinations

Business Combinations	3 Months Ended
	Jul. 31, 2021
Business Combinations [Abstract]
Business Combinations	Business Combinations The Company accounts for business combinations by recognizing the assets acquired and liabilities assumed at the acquisition date fair value. In valuing certain acquired assets and liabilities, fair value estimates use Level 3 inputs, including future expected cash flows and discount rates. Goodwill is measured as the excess of consideration transferred over the fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to value assets acquired and liabilities assumed at the acquisition date, the Company’s estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments arising from new facts and circumstances are recorded to the Consolidated Statements of Operations and Comprehensive Income. The results of operations of acquisitions are reflected in the Company’s Consolidated Financial Statements from the date of acquisition. Westside Acquisition On July 1, 2021, the Company acquired substantially all the assets of Westside Building Material ("Westside"), one of the largest independent distributors of interior building products in the U.S., for preliminary consideration of $139.6 million. Westside is a leading supplier of steel framing, wallboard, acoustical ceilings, insulation and related building products serving commercial and residential markets. Westside’s distribution network comprises ten locations, including nine across California (Anaheim, Hesperia, Oakland, Chatsworth, Fresno, Lancaster, Santa Maria, San Diego and National City) and one in Las Vegas, Nevada. The primary purpose of the transaction was to expand the geographical coverage of the Company and grow the business. The assets acquired and liabilities assumed were recognized at their acquisition date fair values. Due to the limited amount of time since the acquisition of Westside, the acquisition accounting is subject to change as the Company obtains additional information during the measurement period about the facts and circumstances that existed as of the acquisition date. The primary areas of the preliminary acquisition accounting that are not yet finalized relate to working capital adjustments, the finalization of preliminary fair value estimates and residual goodwill. The following table summarizes the components of the preliminary consideration: (in thousands) Cash consideration $ 122,635 Holdback liability 17,000 Total preliminary consideration transferred $ 139,635 Included in the total preliminary consideration is a $17.0 million holdback liability, of which $3.5 million is for working capital adjustments that will be settled 150 days after the acquisition date and $13.5 million is for general representations and warranties of the sellers that will be settled 15 months after the acquisition date. The following table summarizes the preliminary acquisition accounting for this acquisition based on currently available information: Preliminary (in thousands) Trade accounts and notes receivable $ 27,081 Inventories 28,900 Prepaid and other current assets 228 Property and equipment 17,136 Operating lease right-of-use assets 20,782 Customer relationships 51,500 Tradenames 11,300 Goodwill 12,902 Accounts payable and accrued expenses (14,375) Operating lease liabilities (15,819) Fair value of consideration transferred $ 139,635 Goodwill recognized is attributable to synergies achieved through the streamlining of operations combined with improved margins attainable through increased market presence and is all attributable to the Company's geographic divisions reportable segment. Goodwill is expected to be deductible for U.S. federal income tax purposes. The estimated useful life for the customer relationships is 12 years and the estimated useful life for the tradenames is 15 years. The pro forma impact of this acquisition is not presented as it is not considered material to the Company's Consolidated Financial Statements. Other Acquisition On June 3, 2021, the Company acquired the assets of Architectural Coatings Distributors, Inc. (“Architectural Coating”). Architectural Coating is an interior building products distributor in Cleveland, Ohio. The impact of this acquisition is not material to the Company’s Consolidated Financial Statements.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Jul. 31, 2021
Receivables [Abstract]
Accounts Receivable	Accounts Receivable The Company’s trade accounts and notes receivable consisted of the following: July 31, April 30, (in thousands) Trade receivables $ 563,604 $ 488,002 Other receivables 100,263 76,941 Allowance for expected credit losses (3,345) (3,254) Other allowances (3,644) (3,028) Trade accounts and notes receivable $ 656,878 $ 558,661 The following table presents the change in the allowance for expected credit losses during the three months ended July 31, 2021: (in thousands) Balance as of April 30, 2021 $ 3,254 Provision 53 Other 38 Balance as of July 31, 2021 $ 3,345 Receivables from contracts with customers, net of allowances, were $556.6 million and $481.7 million as of July 31, 2021 and April 30, 2021, respectively. The Company did not have material amounts of contract assets or liabilities as of July 31, 2021 or April 30, 2021.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The following table presents changes in the carrying amount of goodwill: Gross Accumulated Net Carrying Amount Impairment Loss Carrying Amount (in thousands) Balance as of April 30, 2021 $ 645,377 $ (69,047) $ 576,330 Goodwill recognized from acquisitions 13,057 — 13,057 Translation adjustment (2,949) 893 (2,056) Balance as of July 31, 2021 $ 655,485 $ (68,154) $ 587,331 Intangible Assets The following tables present the components of the Company’s definite-lived intangible assets: Estimated Weighted July 31, 2021 Gross Accumulated Net (dollars in thousands) Customer relationships 5 - 16 12.7 $ 616,241 $ (342,161) $ 274,080 Definite-lived tradenames 5 - 20 15.8 72,820 (15,803) 57,017 Vendor agreements 8 - 10 8.3 6,644 (5,574) 1,070 Developed technology 5 4.9 5,608 (3,612) 1,996 Other 3 - 5 3.2 4,243 (4,126) 117 Totals $ 705,556 $ (371,276) $ 334,280 Estimated Weighted April 30, 2021 Gross Accumulated Net (dollars in thousands) Customer relationships 5 - 16 13.3 $ 569,255 $ (330,880) $ 238,375 Definite-lived tradenames 5 - 20 16.8 62,084 (14,842) 47,242 Vendor agreements 8 - 10 8.3 6,644 (5,372) 1,272 Developed technology 5 4.9 5,699 (3,381) 2,318 Other 3 - 5 3.3 4,291 (3,996) 295 Totals $ 647,973 $ (358,471) $ 289,502 Amortization expense related to definite-lived intangible assets was $14.8 million and $14.3 million for the three months ended July 31, 2021 and 2020, respectively. The following table summarizes the estimated future amortization expense for definite-lived intangible assets. Actual amortization expense to be reported in future periods could differ materially from these estimates as a result of acquisitions, changes in useful lives, foreign currency exchange rate fluctuations and other relevant factors. Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 45,822 2023 54,035 2024 44,582 2025 36,900 2026 31,037 Thereafter 121,904 Total $ 334,280 The Company’s indefinite-lived intangible assets consist of tradenames that had a carrying amount of $61.4 million as of July 31, 2021 and April 30, 2021.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The Company’s long-term debt consisted of the following: July 31, April 30, (in thousands) Term Loan Facility $ 508,445 $ 509,722 Unamortized discount and deferred financing costs on Term Loan Facility (4,444) (4,735) Senior Notes 350,000 350,000 Unamortized discount and deferred financing costs on Senior Notes (5,324) (5,485) ABL Facility 87,100 — Finance lease obligations 112,906 117,948 Installment notes at fixed rates up to 5.0%, due in monthly and annual installments through 2025 9,723 11,716 Unamortized discount on installment notes (647) (739) Canadian Facility 4,964 — Carrying value of debt 1,062,723 978,427 Less current portion 46,687 46,018 Long-term debt $ 1,016,036 $ 932,409 Term Loan Facility The Company has a senior secured first lien term loan facility (the “Term Loan Facility”). The Company is required to make scheduled quarterly payments of $1.3 million, or 0.25% of the aggregate principal amount of the Term Loan Facility, with the balance due in June 2025. The Term Loan Facility bears interest at a floating rate based on LIBOR plus 2.50%, with a 0% floor. As of July 31, 2021, the applicable rate of interest was 2.59%. Senior Notes The Company has senior unsecured notes due May 2029 (the "Senior Notes"). The Senior Notes bear interest at 4.625% per annum and mature on May 1, 2029. Interest is payable semi-annually in arrears on May 1 and November 1. Asset Based Lending Facility The Company has an asset based revolving credit facility (the “ABL Facility”) that provides for aggregate revolving commitments of $445.0 million (including same day swing line borrowings of $44.5 million). Extensions of credit under the ABL Facility are limited by a borrowing base calculated periodically based on specified percentages of the value of eligible inventory and eligible accounts receivable, subject to certain reserves and other adjustments. At the Company’s option, the interest rates applicable to the loans under the ABL Facility are based on LIBOR or base rate plus, in each case, an applicable margin. The margins applicable for each elected interest rate are subject to a pricing grid, as defined in the ABL Facility agreement, based on average daily availability for the most recent fiscal quarter. The ABL Facility also contains an unused commitment fee. As of July 31, 2021, the applicable rate of interest was 3.50%. As of July 31, 2021, the Company had available borrowing capacity of approximately $335.5 million under the ABL Facility. The ABL Facility matures on September 30, 2024 unless the individual affected lenders agree to extend the maturity of their respective loans under the ABL Facility upon the Company’s request and without the consent of any other lender. The ABL Facility contains a cross default provision with the Term Loan Facility. Debt Covenants The Term Loan Facility contains a number of covenants that limit our ability and the ability of our restricted subsidiaries, as described in the respective credit agreement, to: incur more indebtedness; pay dividends, redeem or repurchase stock or make other distributions; make investments; create restrictions on the ability of our restricted subsidiaries to pay dividends to us or make other intercompany transfers; create liens securing indebtedness; transfer or sell assets; merge or consolidate; enter into certain transactions with our affiliates; and prepay or amend the terms of certain indebtedness. The Company was in compliance with all covenants contained in the Term Loan Facility as of July 31, 2021. The Senior Notes contains certain covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to incur additional indebtedness, make certain dividends, repurchase Company stock or make other distributions, make certain investments, create liens, transfer or sell assets, merge or consolidate, and enter into transactions with the Company’s affiliates. Such covenants are subject to a number of important exceptions and qualifications set forth in the related indenture. The Company was in compliance with all covenants contained in the Senior Notes as of July 31, 2021. The ABL Facility contains certain affirmative covenants, including financial and other reporting requirements. The Company was in compliance with all such covenants as of July 31, 2021. Canadian Revolving Credit Facility Through its WSB Titan (“Titan”) subsidiary, the Company has a revolving credit facility (the “Canadian Facility”) that provides for aggregate revolving commitments of $24.0 million ($30.0 million Canadian dollars). The Canadian Facility bears interest at the Canadian prime rate plus a marginal rate based on the level determined by Titan’s total debt to EBITDA ratio at the end of the most recently completed fiscal quarter or year. As of July 31, 2021, the Company had available borrowing capacity of approximately $19.1 million under the Canadian Facility. The Canadian Facility matures on January 12, 2026. As of July 31, 2021, the applicable rate of interest was 2.83%. Debt Maturities As of July 31, 2021, the maturities of long-term debt were as follows Term Loan Senior Notes ABL Facility Finance Installment Canadian Facility Total Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 3,833 $ — $ — $ 28,263 $ 2,464 $ — $ 34,560 2023 5,110 — — 32,050 4,505 — 41,665 2024 5,110 — — 25,234 1,881 — 32,225 2025 5,110 — 87,100 15,397 873 — 108,480 2026 489,282 — — 8,207 — 4,964 502,453 Thereafter — 350,000 — 3,755 — — 353,755 $ 508,445 $ 350,000 $ 87,100 $ 112,906 $ 9,723 $ 4,964 $ 1,073,138

Leases

Leases	3 Months Ended
	Jul. 31, 2021
Lessee Disclosure [Abstract]
Leases	Leases The components of lease expense were as follows: Three Months Ended 2021 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 5,592 $ 6,139 Interest on lease liabilities 2,301 3,062 Operating lease cost 11,012 10,620 Variable lease cost 3,861 2,999 Total lease cost $ 22,766 $ 22,820 Supplemental cash flow information related to leases was as follows: Three Months Ended 2021 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 11,189 $ 10,648 Operating cash flows from finance leases 2,301 3,062 Financing cash flows from finance leases 7,397 7,521 Right-of-use assets obtained in exchange for lease obligations Operating leases 24,210 6,843 Finance leases 4,076 3,935 Other information related to leases was as follows: July 31, April 30, (in thousands) Finance leases included in property and equipment Property and equipment $ 175,852 $ 176,591 Accumulated depreciation (53,609) (51,869) Property and equipment, net $ 122,243 $ 124,722 Weighted-average remaining lease term (years) Operating leases 4.7 4.7 Finance leases 3.5 3.5 Weighted-average discount rate Operating leases 5.2 % 5.5 % Finance leases 4.6 % 4.6 % Future minimum lease payments under non-cancellable leases as of July 31, 2021 were as follows: Finance Operating Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 33,640 $ 32,773 2023 36,159 38,059 2024 26,971 32,185 2025 16,060 22,412 2026 8,415 12,584 Thereafter 3,792 19,161 Total lease payments 125,037 157,174 Less imputed interest 12,131 18,541 Total $ 112,906 $ 138,633
Leases	Leases The components of lease expense were as follows: Three Months Ended 2021 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 5,592 $ 6,139 Interest on lease liabilities 2,301 3,062 Operating lease cost 11,012 10,620 Variable lease cost 3,861 2,999 Total lease cost $ 22,766 $ 22,820 Supplemental cash flow information related to leases was as follows: Three Months Ended 2021 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 11,189 $ 10,648 Operating cash flows from finance leases 2,301 3,062 Financing cash flows from finance leases 7,397 7,521 Right-of-use assets obtained in exchange for lease obligations Operating leases 24,210 6,843 Finance leases 4,076 3,935 Other information related to leases was as follows: July 31, April 30, (in thousands) Finance leases included in property and equipment Property and equipment $ 175,852 $ 176,591 Accumulated depreciation (53,609) (51,869) Property and equipment, net $ 122,243 $ 124,722 Weighted-average remaining lease term (years) Operating leases 4.7 4.7 Finance leases 3.5 3.5 Weighted-average discount rate Operating leases 5.2 % 5.5 % Finance leases 4.6 % 4.6 % Future minimum lease payments under non-cancellable leases as of July 31, 2021 were as follows: Finance Operating Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 33,640 $ 32,773 2023 36,159 38,059 2024 26,971 32,185 2025 16,060 22,412 2026 8,415 12,584 Thereafter 3,792 19,161 Total lease payments 125,037 157,174 Less imputed interest 12,131 18,541 Total $ 112,906 $ 138,633

Income Taxes

Income Taxes	3 Months Ended
	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes General. The Company’s effective income tax rate on continuing operations was 24.6% and 26.1% for the three months ended July 31, 2021 and 2020, respectively. The difference in the effective income tax rate over the U.S. federal statutory rate of 21.0% for the three months ended July 31, 2021 was primarily due to the impact of state and foreign taxes. The difference in the effective income tax rate over the U.S. federal statutory rate for the three months ended July 31, 2020 was primarily due to the impact of state taxes, foreign tax rates and a change in the valuation allowance. Valuation allowance . The Company had a valuation allowance of $11.9 million and $11.8 million against its deferred tax assets related to certain U.S. tax jurisdictions as of July 31, 2021 and April 30, 2021, respectively. To the extent the Company generates sufficient taxable income in the future to utilize the tax benefits of the net deferred tax assets on which a valuation allowance is recorded, the effective tax rate may decrease as the valuation allowance is reversed. Uncertain tax positions . The Company had no reserve for uncertain tax positions as of July 31, 2021 or April 30, 2021.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jul. 31, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ EquityThe Company's Board of Directors has authorized a common stock repurchase program to repurchase up to $75.0 million of outstanding common stock. The Company may conduct repurchases under the share repurchase program through open market transactions, under trading plans in accordance with SEC Rule 10b5-1 and/or in privately negotiated transactions, in compliance with Rule 10b-18 under the Exchange Act of 1934, as amended. These repurchases are subject to a variety of factors, including, but not limited to, our liquidity, credit availability, general business and market conditions, our debt covenant restrictions and the availability of alternative investment opportunities. The share repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be suspended or terminated at any time at the Company’s discretion. The Company repurchased approximately 85,000 shares of its common stock for $3.9 million during the three months ended July 31, 2021. The Company did not repurchase any shares of its common stock during the three months ended July 31, 2020. As of July 31, 2021, the Company had $50.5 million of remaining repurchase authorization under the stock repurchase program. Accumulated Other Comprehensive Income The following table sets forth the changes to accumulated other comprehensive income (loss), net of tax, by component for the three months ended July 31, 2021: Foreign Derivative Accumulated (in thousands) Balance as of April 30, 2021 $ 20,764 $ (16,005) $ 4,759 Other comprehensive loss before reclassification (8,233) (287) (8,520) Reclassification to earnings from accumulated other comprehensive income (loss) — 2,249 2,249 Balance as of July 31, 2021 $ 12,531 $ (14,043) $ (1,512) Other comprehensive loss on derivative instruments for the three months ended July 31, 2021 is net of $0.1 million of tax and reclassification to earnings from accumulated other comprehensive income (loss) is net of $0.7 million of tax.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Jul. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation General Equity-based compensation expense related to stock options and restricted stock units was $1.7 million and $1.4 million during the three months ended July 31, 2021 and 2020, respectively, and is included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income. Stock Option Awards The following table presents stock option activity for the three months ended July 31, 2021: Number of Weighted Weighted Aggregate (shares and dollars in thousands) Outstanding as of April 30, 2021 1,289 $ 20.86 6.8 $ 29,465 Options exercised (44) 19.75 Options forfeited (3) 23.31 Outstanding as of July 31, 2021 1,242 $ 20.89 6.5 $ 35,084 Exercisable as of July 31, 2021 661 $ 18.90 5.0 $ 19,981 Vested and Expected to vest as of July 31, 2021 1,239 $ 20.89 6.5 $ 34,992 The aggregate intrinsic value represents the excess of the Company’s closing stock price on the last trading day of the period over the weighted average exercise price multiplied by the number of options outstanding, exercisable or expected to vest. Options expected to vest are unvested shares net of expected forfeitures. The total intrinsic value of options exercised during the three months ended July 31, 2021 and 2020 was $1.2 million and $0.3 million, respectively. As of July 31, 2021, there was $3.2 million of total unrecognized compensation cost related to stock options. That cost is expected to be recognized over a weighted-average period of 1.6 years. There were no stock options granted during the three months ended July 31, 2021 or 2020. Restricted Stock Units The following table presents restricted stock unit activity for the three months ended July 31, 2021: Number of Weighted (shares in thousands) Outstanding as of April 30, 2021 361 $ 22.92 Vested (14) 18.04 Forfeited (2) 23.21 Outstanding as of July 31, 2021 345 $ 23.11 As of July 31, 2021, there was $3.2 million of total unrecognized compensation cost related to nonvested restricted stock units. That cost is expected to be recognized over a weighted-average period of 1.6 years. Employee Stock Purchase Plan The Company has an employee stock purchase plan (“ESPP”), the terms of which allow for qualified employees to participate in the purchase of shares of the Company’s common stock at a price equal to 90% of the lower of the closing price at the beginning or end of the purchase period, which is a six-month period ending on December 31 and June 30 of each year. During the three months ended July 31, 2021, 43,000 shares of the Company’s common stock were purchased under the ESPP at a price of $26.36 per share. During the three months ended July 31, 2020, 58,000 shares of the Company’s common stock were purchased under the ESPP at a price of $22.13 per share. The Company recognized $0.2 million and $0.2 million of stock-based compensation expense during the three months ended July 31, 2021 and 2020, respectively, related to the ESPP.

Stock Appreciation Rights, Defe

Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests	3 Months Ended
	Jul. 31, 2021
Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests
Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests	Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests The following table presents a summary of changes to the liabilities for stock appreciation rights, deferred compensation and redeemable noncontrolling interests: Stock Deferred Redeemable (in thousands) Balance as of April 30, 2021 $ 26,795 $ 1,875 $ 9,373 Amounts redeemed — — — Change in fair value 892 51 259 Balance as of July 31, 2021 $ 27,687 $ 1,926 $ 9,632 Classified as current as of April 30, 2021 $ 1,305 $ — $ — Classified as long-term as of April 30, 2021 25,490 1,875 9,373 Classified as current as of July 31, 2021 $ 1,521 $ — $ — Classified as long-term as of July 31, 2021 26,166 1,926 9,632 Total expense related to these instruments was $1.2 million and $1.0 million during the three months ended July 31, 2021 and 2020, respectively, and was included in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income. Current and long-term liabilities for stock appreciation rights, deferred compensation and redeemable noncontrolling interests are included in other accrued expenses and liabilities and other liabilities, respectively, in the Condensed Consolidated Balance Sheets. See Note 13, "Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests," in the Company's Annual Report on Form 10-K for the year ended

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jul. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents the estimated carrying amount and fair value of the Company’s liabilities measured at fair value on a recurring basis: July 31, April 30, (in thousands) Interest rate swaps (Level 2) $ 18,405 $ 21,004 The Company has interest rate swap agreements with a notional amount of $500.0 million to convert the variable interest rate on a portion of its Term Loan Facility to a fixed 1-month LIBOR interest rate of 2.46%. The contracts were effective on February 28, 2019 and terminate on February 28, 2023. The objective of the interest rate swap agreements is to eliminate the variability of interest payment cash flows associated with variable interest rates. The Company believes there have been no material changes in the creditworthiness of the counterparty to this interest rate swap and believes the risk of nonperformance by such party is minimal. The Company designated the interest rate swaps as a cash flow hedges. As of July 31, 2021, $11.9 million of the interest rate swap liability was classified in other accrued expenses and current liabilities and $6.5 million was classified in other liabilities in the Condensed Consolidated Balance Sheet. The Company recognized losses, net of tax, of $2.2 million and $2.1 million in earnings during the three months ended July 31, 2021 and 2020, respectively, related to its interest rate swaps. These losses are included in interest expense in the Condensed Consolidated Statements of Operations and Comprehensive Income and within cash flows from operating activities within the Condensed Consolidated Statements of Cash Flows. As of July 31, 2021, the Company expects that approximately $11.9 million of pre-tax net losses will be reclassified from accumulated other comprehensive income (loss) into earnings during the next twelve months. The fair value of interest rate swaps is determined using Level 2 inputs. Generally, the Company obtains the Level 2 inputs from its counterparties. Substantially all of the inputs throughout the full term of the instruments can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. The fair value of the Company’s interest rate swap was determined using widely accepted valuation techniques including a discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflected the contractual terms of the derivatives, including the period to maturity, and used observable market-based inputs, including interest rate curves and implied volatilities. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Disclosures are required for certain assets and liabilities that are measured at fair value on a nonrecurring basis in periods subsequent to initial recognition. Such measurements of fair value relate primarily to assets and liabilities measured at fair value in connection with business combinations and long-lived asset impairments. For more information on business combinations, see Note 2, “Business Combinations.” There were no material long-lived asset impairments during the three months ended July 31, 2021 or 2020. Fair Value of Debt The estimated fair value of the Company’s Senior Notes was determined based on Level 2 input using observable market prices in less active markets. The carrying amount of the Company’s Term Loan Facility and ABL Facility approximates its fair value as the interest rates are variable and reflective of market rates. The following table presents the carrying value and fair value of the Company’s Senior Notes: July 31, 2021 April 30, 2021 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Senior Notes $ 350,000 $ 355,250 $ 350,000 $ 350,000

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies General The Company is a defendant in various lawsuits and administrative actions associated with personal injuries, property damage, product liability claims, claims of former employees and other events arising in the normal course of business. As discussed in Note 1 “—Insurance Liabilities”, the Company records liabilities for these claims, and assets for amounts recoverable from the insurer, for claims covered by insurance.

Segments

Segments	3 Months Ended
	Jul. 31, 2021
Segment Reporting [Abstract]
Segments	Segments There have been no changes to the Company's reportable segments during the three months ended July 31, 2021. For more information regarding the Company's reportable segments, see Note 17, "Segments," in the Company's Annual Report on Form 10-K for the year ended April 30, 2021. Segment Results The following tables present segment results: Three Months Ended July 31, 2021 Net Sales Gross Profit Depreciation and Adjusted (in thousands) Geographic divisions $ 1,032,388 $ 332,685 $ 27,428 $ 127,017 Other 9,688 3,148 88 1,062 Corporate — — 198 — $ 1,042,076 $ 335,833 $ 27,714 $ 128,079 Three Months Ended July 31, 2020 Net Sales Gross Profit Depreciation and Adjusted (in thousands) Geographic divisions $ 794,472 $ 257,838 $ 26,782 $ 82,503 Other 8,101 2,620 91 551 Corporate — — 224 — $ 802,573 $ 260,458 $ 27,097 $ 83,054 The following table presents a reconciliation of Adjusted EBITDA to net income: Three Months Ended 2021 2020 (in thousands) Net income $ 61,202 $ 27,219 Interest expense 13,657 14,081 Interest income — (37) Provision for income taxes 19,971 9,604 Depreciation expense 12,925 12,827 Amortization expense 14,789 14,270 Stock appreciation rights(a) 892 792 Redeemable noncontrolling interests(b) 310 252 Equity-based compensation(c) 1,958 1,605 Severance and other permitted costs(d) 147 1,947 Transaction costs (acquisitions and other)(e) 575 100 (Gain) loss on disposal and impairment of assets(f) (78) 394 Effects of fair value adjustments to inventory(g) 1,731 — Adjusted EBITDA $ 128,079 $ 83,054 __________________________________________ (a) Represents changes in the fair value of stock appreciation rights. (b) Represents changes in the fair values of noncontrolling interests. (c) Represents non-cash equity-based compensation expense related to the issuance of share-based awards. (d) Represents severance expenses and other costs permitted in the calculation of Adjusted EBITDA under the ABL Facility and the Term Loan Facility, including certain unusual, nonrecurring costs and credits due to COVID-19. (e) Represents costs related to acquisitions paid to third parties. (f) Includes gains from the sale of assets and impairment of assets resulting from restructuring plans to close certain facilities. (g) Represents the non-cash cost of sales impact of acquisition accounting adjustments to increase inventory to its estimated fair value. Revenues by Product The following table presents the Company’s net sales to external customers by main product lines: Three Months Ended 2021 2020 (in thousands) Wallboard $ 390,135 $ 328,085 Ceilings 138,071 114,643 Steel framing 196,276 110,532 Complementary products 317,594 249,313 Total net sales $ 1,042,076 $ 802,573 Geographic Information The following table presents the Company’s net sales by major geographic area: Three Months Ended 2021 2020 (in thousands) United States $ 862,790 $ 679,321 Canada 179,286 123,252 Total net sales $ 1,042,076 $ 802,573 The following table presents the Company’s property and equipment, net, by major geographic area: July 31, April 30, (in thousands) United States $ 284,177 $ 271,346 Canada 39,790 39,980 Total property and equipment, net $ 323,967 $ 311,326

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Jul. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per share of common stock: Three Months Ended 2021 2020 Net income $ 61,202 $ 27,219 Basic earnings per common share: Basic weighted average common shares outstanding 43,089 42,624 Basic earnings per common share $ 1.42 $ 0.64 Diluted earnings per common share: Basic weighted average common shares outstanding 43,089 42,624 Add: Common Stock Equivalents 883 393 Diluted weighted average common shares outstanding 43,972 43,017 Diluted earnings per common share $ 1.39 $ 0.63 During the three months ended July 31, 2021, no Common Stock Equivalents were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive. Anti-dilutive securities could be dilutive in future periods.

Subsequent Event

Subsequent Event	3 Months Ended
	Jul. 31, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventOn August 1, 2021, the Company acquired certain assets of DK&B Construction Specialties, Inc., Inc. (“DK&B”). DK&B is a distributor of External Insulation and Finishing Systems (EIFS) and stucco products through one location in Omaha, Nebraska.

Business, Basis of Presentati_2

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) that permit reduced disclosure for interim periods. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary for a fair presentation of the results of operations, financial position and cash flows. All adjustments are of a normal recurring nature unless otherwise disclosed. The results of operations for interim periods are not necessarily indicative of results for any other interim period or the entire fiscal year. As a result, the unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended April 30, 2021.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements present the results of operations, financial position, stockholders’ equity and cash flows of the Company and its subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. The results of operations of businesses acquired are included from their respective dates of acquisition.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of the Company’s Canadian subsidiaries are translated at the exchange rate prevailing at the balance sheet date, while income and expenses are translated at average rates for the period. Translation gains and losses are reported as a separate component of stockholders’ equity and other comprehensive income (loss). Gains and losses on foreign currency transactions are recognized in the Condensed Consolidated Statements of Operations and Comprehensive Income within other (expense) income, net.
Insurance Liabilities	Insurance Liabilities The Company is self-insured for certain losses related to medical claims. The Company has stop-loss coverage to limit the exposure arising from medical claims. In addition, the Company has deductible-based insurance policies for certain losses related to general liability, workers’ compensation and automobile. The coverage consists of a deductible layer, a primary layer, a self-insured buffer layer, a lead umbrella layer and excess layers. The deductible amount per incident is $0.5 million, $1.0 million and $2.5 million for general liability, workers’ compensation and automobile, respectively. The primary layer of coverage is from $0.3 million, $0.5 million and $1.0 million for general liability, workers’ compensation, and automobile liability, respectively, to $5.0 million. The Company self-insures a buffer layer from $5.0 million to $10.0 million. The umbrella and excess layers cover claims from $10.0 million to $100.0 million. The expected ultimate cost for claims incurred as of the balance sheet date is not discounted and is recognized as a liability. Insurance losses for claims filed and claims incurred but not reported are accrued based upon estimates of the aggregate liability for uninsured claims using historical loss development factors and actuarial assumptions followed in the insurance industry.
Revenue Recognition	Revenue Recognition Revenue is recognized upon transfer of control of promised goods to customers at an amount that reflects the consideration the Company expects to receive in exchange for those goods. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company includes shipping and handling costs billed to customers in net sales. These costs are recognized as a component of selling, general and administrative expenses.
Income Taxes	Income Taxes The Company considers each interim period an integral part of the annual period and measures tax expense (benefit) using an estimated annual effective income tax rate. Estimates of the annual effective income tax rate at the end of interim periods are, out of necessity, based on evaluation of possible future events and transactions and may be subject to subsequent refinement or revision. The Company forecasts its estimated annual effective income tax rate and then applies that rate to its year-to-date pre-tax ordinary income (loss), subject to certain loss limitation provisions. In addition, certain specific transactions are excluded from the Company’s estimated annual effective tax rate computation, but are discretely recognized within income tax expense (benefit) in their respective interim period. Future changes in the forecasted annual income (loss) projections, tax rate changes, or discrete tax items could result in significant adjustments to quarterly income tax expense (benefit) in future periods. The Company evaluates its deferred tax assets quarterly to determine if valuation allowances are required. In this evaluation, the Company considers both positive and negative evidence in determining whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The primary negative evidence considered includes the cumulative operating losses generated in prior periods. The primary positive evidence considered includes the reversal of deferred tax liabilities primarily related to depreciation and amortization that would occur within the same jurisdiction and during the carryforward period necessary to absorb the federal and state net operating losses and other deferred tax assets. Deferred tax assets and liabilities are computed by applying the federal, provincial and state income tax rates in effect to the gross amounts of temporary differences and other tax attributes, such as net operating loss carry-forwards. In assessing if the deferred tax assets will be realized, the Company considers whether it is more likely than not that some or all of these deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which these deductible temporary differences reverse.
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of outstanding shares of common stock for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, including stock options and restricted stock units (collectively “Common Stock Equivalents”), were exercised or converted into common stock. The dilutive effect of outstanding stock options and restricted stock units is reflected in diluted earnings per share by application of the treasury stock method. In
Reclassifications	ReclassificationsCertain amounts in the prior period financial statements have been reclassified to conform to the current year presentation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Reference Rate Reform – In March 2020, the Financial Accounting Standards Board ("FASB") issued new guidance to temporarily ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rates that are expected to be discontinued, such as the London Interbank Offered Rate ("LIBOR"). The guidance was effective upon issuance and generally can be applied through December 31, 2022. The Company expects to elect optional expedients and exceptions provided by the guidance, as needed, related to its debt instruments, which include interest rates based on a LIBOR rate. The Company will evaluate and disclose the impact of this guidance in the period of election, as well as the nature and reason for doing so.

Business, Basis of Presentati_3

Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of medical self-insurance liabilities and recoveries	The following table presents the Company’s aggregate liabilities for medical self-insurance, reserves for general liability, automobile and workers’ compensation and the expected recoveries for medical self-insurance, general liability, automobile and workers’ compensation. Liabilities for medical self-insurance are included in other accrued expenses and current liabilities. Reserves for general liability, automobile and workers’ compensation are included in other accrued expenses and current liabilities and other liabilities. Expected recoveries for insurance liabilities are included in prepaid expenses and other current assets and other assets in the Condensed Consolidated Balance Sheets. July 31, April 30, (in thousands) Medical self‑insurance $ 3,736 $ 3,852 General liability, automobile and workers’ compensation 18,146 19,807 Expected recoveries for insurance liabilities (3,208) (3,209)

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Jul. 31, 2021
Business Combinations [Abstract]
Summary of the components of the preliminary consideration	The following table summarizes the components of the preliminary consideration: (in thousands) Cash consideration $ 122,635 Holdback liability 17,000 Total preliminary consideration transferred $ 139,635
Schedule of preliminary allocation of the consideration transferred	The following table summarizes the preliminary acquisition accounting for this acquisition based on currently available information: Preliminary (in thousands) Trade accounts and notes receivable $ 27,081 Inventories 28,900 Prepaid and other current assets 228 Property and equipment 17,136 Operating lease right-of-use assets 20,782 Customer relationships 51,500 Tradenames 11,300 Goodwill 12,902 Accounts payable and accrued expenses (14,375) Operating lease liabilities (15,819) Fair value of consideration transferred $ 139,635

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Jul. 31, 2021
Receivables [Abstract]
Schedule of trade accounts and notes receivable	The Company’s trade accounts and notes receivable consisted of the following: July 31, April 30, (in thousands) Trade receivables $ 563,604 $ 488,002 Other receivables 100,263 76,941 Allowance for expected credit losses (3,345) (3,254) Other allowances (3,644) (3,028) Trade accounts and notes receivable $ 656,878 $ 558,661
Schedule of change in allowance for expected credit losses	The following table presents the change in the allowance for expected credit losses during the three months ended July 31, 2021: (in thousands) Balance as of April 30, 2021 $ 3,254 Provision 53 Other 38 Balance as of July 31, 2021 $ 3,345

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The following table presents changes in the carrying amount of goodwill: Gross Accumulated Net Carrying Amount Impairment Loss Carrying Amount (in thousands) Balance as of April 30, 2021 $ 645,377 $ (69,047) $ 576,330 Goodwill recognized from acquisitions 13,057 — 13,057 Translation adjustment (2,949) 893 (2,056) Balance as of July 31, 2021 $ 655,485 $ (68,154) $ 587,331
Schedule of components of definite-lived intangible assets	The following tables present the components of the Company’s definite-lived intangible assets: Estimated Weighted July 31, 2021 Gross Accumulated Net (dollars in thousands) Customer relationships 5 - 16 12.7 $ 616,241 $ (342,161) $ 274,080 Definite-lived tradenames 5 - 20 15.8 72,820 (15,803) 57,017 Vendor agreements 8 - 10 8.3 6,644 (5,574) 1,070 Developed technology 5 4.9 5,608 (3,612) 1,996 Other 3 - 5 3.2 4,243 (4,126) 117 Totals $ 705,556 $ (371,276) $ 334,280 Estimated Weighted April 30, 2021 Gross Accumulated Net (dollars in thousands) Customer relationships 5 - 16 13.3 $ 569,255 $ (330,880) $ 238,375 Definite-lived tradenames 5 - 20 16.8 62,084 (14,842) 47,242 Vendor agreements 8 - 10 8.3 6,644 (5,372) 1,272 Developed technology 5 4.9 5,699 (3,381) 2,318 Other 3 - 5 3.3 4,291 (3,996) 295 Totals $ 647,973 $ (358,471) $ 289,502
Schedule of estimated future aggregate amortization expense	The following table summarizes the estimated future amortization expense for definite-lived intangible assets. Actual amortization expense to be reported in future periods could differ materially from these estimates as a result of acquisitions, changes in useful lives, foreign currency exchange rate fluctuations and other relevant factors. Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 45,822 2023 54,035 2024 44,582 2025 36,900 2026 31,037 Thereafter 121,904 Total $ 334,280

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Jul. 31, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	The Company’s long-term debt consisted of the following: July 31, April 30, (in thousands) Term Loan Facility $ 508,445 $ 509,722 Unamortized discount and deferred financing costs on Term Loan Facility (4,444) (4,735) Senior Notes 350,000 350,000 Unamortized discount and deferred financing costs on Senior Notes (5,324) (5,485) ABL Facility 87,100 — Finance lease obligations 112,906 117,948 Installment notes at fixed rates up to 5.0%, due in monthly and annual installments through 2025 9,723 11,716 Unamortized discount on installment notes (647) (739) Canadian Facility 4,964 — Carrying value of debt 1,062,723 978,427 Less current portion 46,687 46,018 Long-term debt $ 1,016,036 $ 932,409
Scheduled of maturities of long-term debt	As of July 31, 2021, the maturities of long-term debt were as follows Term Loan Senior Notes ABL Facility Finance Installment Canadian Facility Total Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 3,833 $ — $ — $ 28,263 $ 2,464 $ — $ 34,560 2023 5,110 — — 32,050 4,505 — 41,665 2024 5,110 — — 25,234 1,881 — 32,225 2025 5,110 — 87,100 15,397 873 — 108,480 2026 489,282 — — 8,207 — 4,964 502,453 Thereafter — 350,000 — 3,755 — — 353,755 $ 508,445 $ 350,000 $ 87,100 $ 112,906 $ 9,723 $ 4,964 $ 1,073,138

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jul. 31, 2021
Lessee Disclosure [Abstract]
Summary of components of lease expense	The components of lease expense were as follows: Three Months Ended 2021 2020 (in thousands) Finance lease cost: Amortization of right-of-use assets $ 5,592 $ 6,139 Interest on lease liabilities 2,301 3,062 Operating lease cost 11,012 10,620 Variable lease cost 3,861 2,999 Total lease cost $ 22,766 $ 22,820
Summary of components of supplemental cash flow information related to leases	Supplemental cash flow information related to leases was as follows: Three Months Ended 2021 2020 (in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 11,189 $ 10,648 Operating cash flows from finance leases 2,301 3,062 Financing cash flows from finance leases 7,397 7,521 Right-of-use assets obtained in exchange for lease obligations Operating leases 24,210 6,843 Finance leases 4,076 3,935
Summary of other lease information	Other information related to leases was as follows: July 31, April 30, (in thousands) Finance leases included in property and equipment Property and equipment $ 175,852 $ 176,591 Accumulated depreciation (53,609) (51,869) Property and equipment, net $ 122,243 $ 124,722 Weighted-average remaining lease term (years) Operating leases 4.7 4.7 Finance leases 3.5 3.5 Weighted-average discount rate Operating leases 5.2 % 5.5 % Finance leases 4.6 % 4.6 %
Schedule of maturities for finance leases	Future minimum lease payments under non-cancellable leases as of July 31, 2021 were as follows: Finance Operating Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 33,640 $ 32,773 2023 36,159 38,059 2024 26,971 32,185 2025 16,060 22,412 2026 8,415 12,584 Thereafter 3,792 19,161 Total lease payments 125,037 157,174 Less imputed interest 12,131 18,541 Total $ 112,906 $ 138,633
Schedule of maturities for operating leases	Future minimum lease payments under non-cancellable leases as of July 31, 2021 were as follows: Finance Operating Year Ending April 30, (in thousands) 2022 (remaining nine months) $ 33,640 $ 32,773 2023 36,159 38,059 2024 26,971 32,185 2025 16,060 22,412 2026 8,415 12,584 Thereafter 3,792 19,161 Total lease payments 125,037 157,174 Less imputed interest 12,131 18,541 Total $ 112,906 $ 138,633

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jul. 31, 2021
Equity [Abstract]
Schedule of changes to accumulated other comprehensive loss, net of tax, by component	The following table sets forth the changes to accumulated other comprehensive income (loss), net of tax, by component for the three months ended July 31, 2021: Foreign Derivative Accumulated (in thousands) Balance as of April 30, 2021 $ 20,764 $ (16,005) $ 4,759 Other comprehensive loss before reclassification (8,233) (287) (8,520) Reclassification to earnings from accumulated other comprehensive income (loss) — 2,249 2,249 Balance as of July 31, 2021 $ 12,531 $ (14,043) $ (1,512)

Equity-Based Compensation - (Ta

Equity-Based Compensation - (Tables)	3 Months Ended
	Jul. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of stock option activity	The following table presents stock option activity for the three months ended July 31, 2021: Number of Weighted Weighted Aggregate (shares and dollars in thousands) Outstanding as of April 30, 2021 1,289 $ 20.86 6.8 $ 29,465 Options exercised (44) 19.75 Options forfeited (3) 23.31 Outstanding as of July 31, 2021 1,242 $ 20.89 6.5 $ 35,084 Exercisable as of July 31, 2021 661 $ 18.90 5.0 $ 19,981 Vested and Expected to vest as of July 31, 2021 1,239 $ 20.89 6.5 $ 34,992
Summary of restricted stock unit activity	The following table presents restricted stock unit activity for the three months ended July 31, 2021: Number of Weighted (shares in thousands) Outstanding as of April 30, 2021 361 $ 22.92 Vested (14) 18.04 Forfeited (2) 23.21 Outstanding as of July 31, 2021 345 $ 23.11

Stock Appreciation Rights, De_2

Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests (Tables)	3 Months Ended
	Jul. 31, 2021
Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests
Summary of changes to the liabilities for stock appreciation rights, deferred compensation and redeemable noncontrolling interests	The following table presents a summary of changes to the liabilities for stock appreciation rights, deferred compensation and redeemable noncontrolling interests: Stock Deferred Redeemable (in thousands) Balance as of April 30, 2021 $ 26,795 $ 1,875 $ 9,373 Amounts redeemed — — — Change in fair value 892 51 259 Balance as of July 31, 2021 $ 27,687 $ 1,926 $ 9,632 Classified as current as of April 30, 2021 $ 1,305 $ — $ — Classified as long-term as of April 30, 2021 25,490 1,875 9,373 Classified as current as of July 31, 2021 $ 1,521 $ — $ — Classified as long-term as of July 31, 2021 26,166 1,926 9,632

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jul. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of liabilities measured at fair value on a recurring basis	The following table presents the estimated carrying amount and fair value of the Company’s liabilities measured at fair value on a recurring basis: July 31, April 30, (in thousands) Interest rate swaps (Level 2) $ 18,405 $ 21,004
Schedule of carrying value and fair value of the Senior Notes	The following table presents the carrying value and fair value of the Company’s Senior Notes: July 31, 2021 April 30, 2021 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Senior Notes $ 350,000 $ 355,250 $ 350,000 $ 350,000

Segments (Tables)

Segments (Tables)	3 Months Ended
	Jul. 31, 2021
Segment Reporting [Abstract]
Schedule of segment results	The following tables present segment results: Three Months Ended July 31, 2021 Net Sales Gross Profit Depreciation and Adjusted (in thousands) Geographic divisions $ 1,032,388 $ 332,685 $ 27,428 $ 127,017 Other 9,688 3,148 88 1,062 Corporate — — 198 — $ 1,042,076 $ 335,833 $ 27,714 $ 128,079 Three Months Ended July 31, 2020 Net Sales Gross Profit Depreciation and Adjusted (in thousands) Geographic divisions $ 794,472 $ 257,838 $ 26,782 $ 82,503 Other 8,101 2,620 91 551 Corporate — — 224 — $ 802,573 $ 260,458 $ 27,097 $ 83,054
Reconciliation of Adjusted EBITDA to net income	The following table presents a reconciliation of Adjusted EBITDA to net income: Three Months Ended 2021 2020 (in thousands) Net income $ 61,202 $ 27,219 Interest expense 13,657 14,081 Interest income — (37) Provision for income taxes 19,971 9,604 Depreciation expense 12,925 12,827 Amortization expense 14,789 14,270 Stock appreciation rights(a) 892 792 Redeemable noncontrolling interests(b) 310 252 Equity-based compensation(c) 1,958 1,605 Severance and other permitted costs(d) 147 1,947 Transaction costs (acquisitions and other)(e) 575 100 (Gain) loss on disposal and impairment of assets(f) (78) 394 Effects of fair value adjustments to inventory(g) 1,731 — Adjusted EBITDA $ 128,079 $ 83,054 __________________________________________ (a) Represents changes in the fair value of stock appreciation rights. (b) Represents changes in the fair values of noncontrolling interests. (c) Represents non-cash equity-based compensation expense related to the issuance of share-based awards. (d) Represents severance expenses and other costs permitted in the calculation of Adjusted EBITDA under the ABL Facility and the Term Loan Facility, including certain unusual, nonrecurring costs and credits due to COVID-19. (e) Represents costs related to acquisitions paid to third parties. (f) Includes gains from the sale of assets and impairment of assets resulting from restructuring plans to close certain facilities. (g) Represents the non-cash cost of sales impact of acquisition accounting adjustments to increase inventory to its estimated fair value.
Schedule of net sales to external customers by main product lines	The following table presents the Company’s net sales to external customers by main product lines: Three Months Ended 2021 2020 (in thousands) Wallboard $ 390,135 $ 328,085 Ceilings 138,071 114,643 Steel framing 196,276 110,532 Complementary products 317,594 249,313 Total net sales $ 1,042,076 $ 802,573
Schedule of net sales by major geographic area	The following table presents the Company’s net sales by major geographic area: Three Months Ended 2021 2020 (in thousands) United States $ 862,790 $ 679,321 Canada 179,286 123,252 Total net sales $ 1,042,076 $ 802,573
Schedule of property and equipment by major geographic area	The following table presents the Company’s property and equipment, net, by major geographic area: July 31, April 30, (in thousands) United States $ 284,177 $ 271,346 Canada 39,790 39,980 Total property and equipment, net $ 323,967 $ 311,326

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Jul. 31, 2021
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share of common stock	The following table sets forth the computation of basic and diluted earnings per share of common stock: Three Months Ended 2021 2020 Net income $ 61,202 $ 27,219 Basic earnings per common share: Basic weighted average common shares outstanding 43,089 42,624 Basic earnings per common share $ 1.42 $ 0.64 Diluted earnings per common share: Basic weighted average common shares outstanding 43,089 42,624 Add: Common Stock Equivalents 883 393 Diluted weighted average common shares outstanding 43,972 43,017 Diluted earnings per common share $ 1.39 $ 0.63

Business, Basis of Presentati_4

Business, Basis of Presentation and Summary of Significant Accounting Policies - Business (Details)	3 Months Ended
	Jul. 31, 2021center
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of distribution centers	280

Business, Basis of Presentati_5

Business, Basis of Presentation and Summary of Significant Accounting Policies - Insurance Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
General liability
Loss contingencies
Deductible amount	$ 500
Primary layer of insurance coverage	300
Workers' compensation
Loss contingencies
Deductible amount	1,000
Primary layer of insurance coverage	500
Automobile
Loss contingencies
Deductible amount	2,500
Primary layer of insurance coverage	1,000
General liability, workers' compensation and automobile | Other accrued expenses and current liabilities.
Loss contingencies
Medical self‑insurance	3,736	$ 3,852
General liability, automobile and workers’ compensation	18,146	19,807
General liability, workers' compensation and automobile | Prepaid expenses and other current assets
Loss contingencies
Expected recoveries for insurance liabilities	(3,208)	$ (3,209)
General liability, workers' compensation and automobile | Minimum
Loss contingencies
Buffer layer of insurance coverage	5,000
Excess layer of insurance coverage	10,000
General liability, workers' compensation and automobile | Maximum
Loss contingencies
Primary layer of insurance coverage	5,000
Buffer layer of insurance coverage	10,000
Excess layer of insurance coverage	$ 100,000

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in Thousands	Jul. 01, 2021USD ($)location	Jul. 31, 2021	Apr. 30, 2021
Customer relationships
Business Acquisition [Line Items]
Estimated useful life (in years)		12 years 8 months 12 days	13 years 3 months 18 days
Tradenames
Business Acquisition [Line Items]
Estimated useful life (in years)		15 years 9 months 18 days	16 years 9 months 18 days
Westside Building Material
Business Acquisition [Line Items]
Preliminary consideration transferred	$ 139,635
Number of distribution network locations | location	10
Holdback liability	$ 17,000
Working capital adjustments	$ 3,500
Working capital adjustments, settlement period (in days)	150 days
Liability related to general representations and warranties	$ 13,500
Liability related to general representations and warranties, settlement period (in months)	15 months
Westside Building Material | Customer relationships
Business Acquisition [Line Items]
Estimated useful life (in years)	12 years
Westside Building Material | Tradenames
Business Acquisition [Line Items]
Estimated useful life (in years)	15 years
Westside Building Material | California
Business Acquisition [Line Items]
Number of distribution network locations | location	9
Westside Building Material | Nevada
Business Acquisition [Line Items]
Number of distribution network locations | location	1

Business Combinations - Compone

Business Combinations - Components of the Preliminary Consideration (Details) - Westside Building Material $ in Thousands	Jul. 01, 2021USD ($)
Business Acquisition [Line Items]
Cash consideration	$ 122,635
Holdback liability	17,000
Total preliminary consideration transferred	$ 139,635

Business Combinations - Prelimi

Business Combinations - Preliminary Acquisition Accounting (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Jul. 01, 2021	Apr. 30, 2021
Business Acquisition [Line Items]
Goodwill	$ 587,331		$ 576,330
Westside Building Material
Business Acquisition [Line Items]
Trade accounts and notes receivable		$ 27,081
Inventories		28,900
Prepaid and other current assets		228
Property and equipment		17,136
Operating lease right-of-use assets		20,782
Goodwill		12,902
Accounts payable and accrued expenses		(14,375)
Operating lease liabilities		(15,819)
Fair value of consideration transferred		139,635
Westside Building Material | Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets		51,500
Westside Building Material | Tradenames
Business Acquisition [Line Items]
Finite-lived intangible assets		$ 11,300

Accounts Receivable - Trade Acc

Accounts Receivable - Trade Accounts And Notes Receivable (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Receivables [Abstract]
Trade receivables	$ 563,604	$ 488,002
Other receivables	100,263	76,941
Allowance for expected credit losses	(3,345)	(3,254)
Other allowances	(3,644)	(3,028)
Trade accounts and notes receivable	$ 656,878	$ 558,661

Accounts Receivable - Change In

Accounts Receivable - Change In Allowance (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Apr. 30, 2021
Change in allowance
Beginning balance	$ 3,254
Provision	53
Other	38
Ending balance	3,345
Receivables from contracts with customers	$ 556,600	$ 481,700

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	3 Months Ended
	Jul. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill gross	$ 645,377
Goodwill, accumulated impairment loss	(69,047)
Goodwill balance	576,330
Goodwill recognized from acquisitions	13,057
Translation adjustment, gross	(2,949)
Translation adjustment, impairment loss	893
Translation adjustment, net	(2,056)
Goodwill gross	655,485
Goodwill, accumulated impairment loss	(68,154)
Goodwill balance	$ 587,331

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2021	Apr. 30, 2021
Definite-lived intangible assets
Gross Carrying Amount	$ 705,556	$ 647,973
Accumulated Amortization	(371,276)	(358,471)
Total	$ 334,280	$ 289,502
Customer relationships
Definite-lived intangible assets
Weighted Average Amortization Period (years)	12 years 8 months 12 days	13 years 3 months 18 days
Gross Carrying Amount	$ 616,241	$ 569,255
Accumulated Amortization	(342,161)	(330,880)
Total	$ 274,080	$ 238,375
Customer relationships | Minimum
Definite-lived intangible assets
Estimated Useful Lives (years)	5 years	5 years
Customer relationships | Maximum
Definite-lived intangible assets
Estimated Useful Lives (years)	16 years	16 years
Definite-lived tradenames
Definite-lived intangible assets
Weighted Average Amortization Period (years)	15 years 9 months 18 days	16 years 9 months 18 days
Gross Carrying Amount	$ 72,820	$ 62,084
Accumulated Amortization	(15,803)	(14,842)
Total	$ 57,017	$ 47,242
Definite-lived tradenames | Minimum
Definite-lived intangible assets
Estimated Useful Lives (years)	5 years	5 years
Definite-lived tradenames | Maximum
Definite-lived intangible assets
Estimated Useful Lives (years)	20 years	20 years
Vendor agreements
Definite-lived intangible assets
Weighted Average Amortization Period (years)	8 years 3 months 18 days	8 years 3 months 18 days
Gross Carrying Amount	$ 6,644	$ 6,644
Accumulated Amortization	(5,574)	(5,372)
Total	$ 1,070	$ 1,272
Vendor agreements | Minimum
Definite-lived intangible assets
Estimated Useful Lives (years)	8 years	8 years
Vendor agreements | Maximum
Definite-lived intangible assets
Estimated Useful Lives (years)	10 years	10 years
Developed technology
Definite-lived intangible assets
Estimated Useful Lives (years)	5 years	5 years
Weighted Average Amortization Period (years)	4 years 10 months 24 days	4 years 10 months 24 days
Gross Carrying Amount	$ 5,608	$ 5,699
Accumulated Amortization	(3,612)	(3,381)
Total	$ 1,996	$ 2,318
Other intangible assets
Definite-lived intangible assets
Weighted Average Amortization Period (years)	3 years 2 months 12 days	3 years 3 months 18 days
Gross Carrying Amount	$ 4,243	$ 4,291
Accumulated Amortization	(4,126)	(3,996)
Total	$ 117	$ 295
Other intangible assets | Minimum
Definite-lived intangible assets
Estimated Useful Lives (years)	3 years	3 years
Other intangible assets | Maximum
Definite-lived intangible assets
Estimated Useful Lives (years)	5 years	5 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Apr. 30, 2021
Intangible assets
Amortization expense	$ 14,789	$ 14,270
Tradenames	61,400		$ 61,400
Depreciation and amortization expense
Intangible assets
Amortization expense	$ 14,800	$ 14,300

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Aggregate Amortization Expense (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining nine months)	$ 45,822
2023	54,035
2024	44,582
2025	36,900
2026	31,037
Thereafter	121,904
Total	$ 334,280	$ 289,502

Long-Term Debt - Components (De

Long-Term Debt - Components (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Long-term debt
Long-term debt, gross	$ 1,073,138
Finance lease obligations	112,906	$ 117,948
Less current portion	46,687	46,018
Long-term debt	1,016,036	932,409
Term Loan Facility
Long-term debt
Long-term debt, gross	508,445	509,722
Unamortized discount and deferred financing costs	(4,444)	(4,735)
Senior Notes
Long-term debt
Long-term debt, gross	350,000	350,000
Unamortized discount and deferred financing costs	$ (5,324)	(5,485)
Interest rate	4.625%
ABL Facility
Long-term debt
Long-term debt, gross	$ 87,100	0
Installment Notes
Long-term debt
Long-term debt, gross	9,723	11,716
Unamortized discount	$ (647)	(739)
Interest rate	5.00%
Canadian Facility
Long-term debt
Long-term debt, gross	$ 4,964	0
Carrying value of debt	$ 1,062,723	$ 978,427

Long-Term Debt - Term Loan Faci

Long-Term Debt - Term Loan Facility (Details) - Term Loan Facility $ in Millions	3 Months Ended
	Jul. 31, 2021USD ($)
Long-term debt
Loan quarterly payments	$ 1.3
Loan quarterly payments of the principal amount (as a percent)	0.25%
Borrowing interest rate (as a percent)	2.59%
LIBOR
Long-term debt
Margin added to variable rate (as a percent)	2.50%
Variable rate floor (as a percent)	0.00%

Long-Term Debt - Senior Notes (

Long-Term Debt - Senior Notes (Details)	Jul. 31, 2021
Senior Notes
Long-term debt
Interest rate	4.625%

Long-Term Debt - Asset-Based Le

Long-Term Debt - Asset-Based Lending Facility (Details) - ABL Facility $ in Millions	Jul. 31, 2021USD ($)
Long-term debt
Maximum amount under the facility	$ 445
Borrowing interest rate (as a percent)	3.50%
Available borrowings under the facility	$ 335.5
Swing-line
Long-term debt
Maximum amount under the facility	$ 44.5

Long-Term Debt - Canadian Revol

Long-Term Debt - Canadian Revolving Credit Facility (Details) - Canadian Facility $ in Millions, $ in Millions	Jul. 31, 2021USD ($)	Jul. 31, 2021CAD ($)
Long-term debt
Maximum amount under the facility	$ 24	$ 30
Available borrowings under the facility	$ 19.1
Borrowing interest rate (as a percent)	2.83%	2.83%

Long-Term Debt - Maturities (De

Long-Term Debt - Maturities (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Long-term debt
2022 (remaining nine months)	$ 34,560
2023	41,665
2024	32,225
2025	108,480
2026	502,453
Thereafter	353,755
Total	1,073,138
Term Loan Facility
Long-term debt
2022 (remaining nine months)	3,833
2023	5,110
2024	5,110
2025	5,110
2026	489,282
Thereafter	0
Total	508,445	$ 509,722
Senior Notes
Long-term debt
2022 (remaining nine months)	0
2023	0
2024	0
2025	0
2026	0
Thereafter	350,000
Total	350,000	350,000
ABL Facility
Long-term debt
2022 (remaining nine months)	0
2023	0
2024	0
2025	87,100
2026	0
Thereafter	0
Total	87,100	0
Finance lease obligations
Long-term debt
2022 (remaining nine months)	28,263
2023	32,050
2024	25,234
2025	15,397
2026	8,207
Thereafter	3,755
Total	112,906
Installment Notes
Long-term debt
2022 (remaining nine months)	2,464
2023	4,505
2024	1,881
2025	873
2026	0
Thereafter	0
Total	9,723	11,716
Canadian Facility
Long-term debt
2022 (remaining nine months)	0
2023	0
2024	0
2025	0
2026	4,964
Thereafter	0
Total	$ 4,964	$ 0

Leases - Components of lease ex

Leases - Components of lease expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Finance lease cost:
Amortization of right-of-use assets	$ 5,592	$ 6,139
Interest on lease liabilities	2,301	3,062
Operating lease cost	11,012	10,620
Variable lease cost	3,861	2,999
Total lease cost	$ 22,766	$ 22,820

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 11,189	$ 10,648
Operating cash flows from finance leases	2,301	3,062
Financing cash flows from finance leases	7,397	7,521
Right-of-use assets obtained in exchange for lease obligations
Operating leases	24,210	6,843
Finance leases	$ 4,076	$ 3,935

Leases - Other information (Det

Leases - Other information (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Finance leases included in property and equipment
Property and equipment	$ 175,852	$ 176,591
Accumulated depreciation	(53,609)	(51,869)
Property and equipment, net	$ 122,243	$ 124,722
Finance lease, right-of-use asset, balance sheet location [Extensible List]	Property and equipment, net of accumulated depreciation of $201,441 and $193,364, respectively	Property and equipment, net of accumulated depreciation of $201,441 and $193,364, respectively
Weighted-average remaining lease term (years)
Operating leases	4 years 8 months 12 days	4 years 8 months 12 days
Finance leases	3 years 6 months	3 years 6 months
Weighted-average discount rate
Operating leases	5.20%	5.50%
Finance leases	4.60%	4.60%

Leases - Future minimum lease p

Leases - Future minimum lease payments under non-cancellable leases (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Finance
2022 (remaining nine months)	$ 33,640
2023	36,159
2024	26,971
2025	16,060
2026	8,415
Thereafter	3,792
Total lease payments	125,037
Less imputed interest	12,131
Total	112,906	$ 117,948
Operating
2022 (remaining nine months)	32,773
2023	38,059
2024	32,185
2025	22,412
2026	12,584
Thereafter	19,161
Total lease payments	157,174
Less imputed interest	18,541
Total	$ 138,633

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Apr. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	24.60%	26.10%
Valuation allowance	$ 11,900,000		$ 11,800,000
Reserve for uncertain tax positions	$ 0		$ 0

Stockholders' Equity - Exchange

Stockholders' Equity - Exchangeable Shares, Share Repurchase Program and Secondary Public Offering (Details) - USD ($)	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	85,000	0
Shares repurchased, cost	$ 3,900,000
Remaining amount under repurchase program	50,500,000
Maximum
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 75,000,000

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Jul. 31, 2021USD ($)
Accumulated other comprehensive (loss) income [Roll Forward]
Beginning balance	$ 822,462
Other comprehensive loss before reclassification	(8,520)
Reclassification to earnings from accumulated other comprehensive income (loss)	2,249
Ending balance	877,243
Other comprehensive loss on derivative instruments before reclassification, tax	100
Amount expected to be reclassified to earnings during next twelve months	700
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive (loss) income [Roll Forward]
Beginning balance	4,759
Ending balance	(1,512)
Foreign Currency Translation
Accumulated other comprehensive (loss) income [Roll Forward]
Beginning balance	20,764
Other comprehensive loss before reclassification	(8,233)
Reclassification to earnings from accumulated other comprehensive income (loss)	0
Ending balance	12,531
Derivative Financial Instruments
Accumulated other comprehensive (loss) income [Roll Forward]
Beginning balance	(16,005)
Other comprehensive loss before reclassification	(287)
Reclassification to earnings from accumulated other comprehensive income (loss)	2,249
Ending balance	$ (14,043)

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,958	$ 1,605
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,700	1,400
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	1,200	300
Unrecognized compensation cost, options	$ 3,200
Weighted-average period for recognition of unrecognized compensation expense (in years)	1 year 7 months 6 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period for recognition of unrecognized compensation expense (in years)	1 year 7 months 6 days
Unrecognized compensation cost, RSUs	$ 3,200
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 200	$ 200
Percentage of common stock price based on closing price at the beginning or end of the last day of the purchase period	90.00%
Purchase period (in months)	6 months
Number of shares purchased under ESPP (in shares)	43	58
Average price per share (in dollars per share)	$ 26.36	$ 22.13

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Option Activity (Details) - Stock Options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2021	Apr. 30, 2021
Number of Options
Outstanding, beginning of the period (in shares)	1,289
Options exercised (in shares)	(44)
Options forfeited (in shares)	(3)
Outstanding, end of the period (in shares)	1,242	1,289
Exercisable at end of period (in shares)	661
Vested and expected to vest at end of period (in shares)	1,239
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 20.86
Options exercised (in dollars per share)	19.75
Options forfeited (in dollars per share)	23.31
Outstanding, end of the period (in dollars per share)	20.89	$ 20.86
Exercisable at end of period (in dollars per share)	18.90
Vested and expected to vest at end of period (in dollars per share)	$ 20.89
Other disclosures
Weighted Average Remaining Contractual Life, Outstanding (in years)	6 years 6 months	6 years 9 months 18 days
Weighted Average Remaining Contractual Life, Exercisable at end of period (in years)	5 years
Weighted Average Remaining Contractual Life, Vested and expected to vest at end of period (in years)	6 years 6 months
Aggregate Intrinsic Value, Outstanding	$ 35,084	$ 29,465
Aggregate Intrinsic Value, Exercisable at end of period	19,981
Aggregate Intrinsic Value, Vested and expected to vest at end of period	$ 34,992

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock Units (Details) - Restricted stock units shares in Thousands	3 Months Ended
	Jul. 31, 2021$ / sharesshares
Number of Restricted Stock Units
Outstanding, beginning of the period (in shares) | shares	361
Vested (in shares) | shares	(14)
Forfeited (in shares) | shares	(2)
Outstanding, end of the period (in shares) | shares	345
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share) | $ / shares	$ 22.92
Vested (in dollars per share) | $ / shares	18.04
Forfeited (in dollars per share) | $ / shares	23.21
Outstanding, end of the period (in dollars per share) | $ / shares	$ 23.11

Stock Appreciation Rights, De_3

Stock Appreciation Rights, Deferred Compensation and Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Apr. 30, 2021
Selling, general and administrative expenses
Deferred Compensation Liability, Current and Noncurrent [Roll Forward]
Expense related to equity based compensation arrangements	$ 1,200	$ 1,000
Stock Appreciation Rights
Deferred Compensation Liability, Current and Noncurrent [Roll Forward]
Award liability as of beginning of period	26,795
Amounts redeemed	0
Change in fair value	892
Award liability as of end of period	27,687
Current liabilities related to plans	1,521		$ 1,305
Long-term liabilities related to plans	26,166		25,490
Deferred Compensation
Deferred Compensation Liability, Current and Noncurrent [Roll Forward]
Award liability as of beginning of period	1,875
Amounts redeemed	0
Change in fair value	51
Award liability as of end of period	1,926
Current liabilities related to plans	0		0
Long-term liabilities related to plans	1,926		1,875
Redeemable Noncontrolling Interests
Deferred Compensation Liability, Current and Noncurrent [Roll Forward]
Award liability as of beginning of period	9,373
Amounts redeemed	0
Change in fair value	259
Award liability as of end of period	9,632
Current liabilities related to plans	0		0
Long-term liabilities related to plans	$ 9,632		$ 9,373

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Derivative Liabilities (Details) - Interest rate swap agreements - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Fair Value Measurements
Derivative liabilities	$ 11,900
Level 2 | Fair Value, Measurements, Recurring
Fair Value Measurements
Derivative liabilities	$ 18,405	$ 21,004

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - Interest rate swap agreements - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020	Feb. 28, 2019
Fair Value Measurements
Derivative liabilities	$ 11.9
Interest rate swap gains (losses)	(2.2)	$ (2.1)
Term Loan Facility
Fair Value Measurements
Notional amount			$ 500
LIBOR | Term Loan Facility
Fair Value Measurements
Fixed interest rate			2.46%
Other liabilities
Fair Value Measurements
Derivative liabilities	6.5
Other accrued expenses and current liabilities
Fair Value Measurements
Expected amount of pre-tax net losses will be reclassified from accumulated other comprehensive income (loss) into earnings during the next twelve months	$ 11.9

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Debt (Details) - Level 2 - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Carrying Amount
Fair Value Measurements
Senior Notes	$ 350,000	$ 350,000
Fair Value
Fair Value Measurements
Senior Notes	$ 355,250	$ 350,000

Segments - Net Sales, Adjusted

Segments - Net Sales, Adjusted EBITDA and Certain Other Measures (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Segment information
Net sales	$ 1,042,076	$ 802,573
Gross Profit	335,833	260,458
Depreciation and Amortization	27,714	27,097
Adjusted EBITDA	128,079	83,054
Geographic divisions
Segment information
Net sales	1,032,388	794,472
Gross Profit	332,685	257,838
Depreciation and Amortization	27,428	26,782
Adjusted EBITDA	127,017	82,503
Other
Segment information
Net sales	9,688	8,101
Gross Profit	3,148	2,620
Depreciation and Amortization	88	91
Adjusted EBITDA	1,062	551
Corporate
Segment information
Net sales	0	0
Gross Profit	0	0
Depreciation and Amortization	198	224
Adjusted EBITDA	$ 0	$ 0

Segments - Reconciliation of Ne

Segments - Reconciliation of Net Income to Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Segment Reporting [Abstract]
Net income	$ 61,202	$ 27,219
Interest expense	13,657	14,081
Interest income	0	(37)
Provision for income taxes	19,971	9,604
Depreciation expense	12,925	12,827
Amortization expense	14,789	14,270
Stock appreciation rights	892	792
Redeemable noncontrolling interests	310	252
Equity-based compensation	1,958	1,605
Severance and other permitted costs	147	1,947
Transaction costs (acquisitions and other)	575	100
(Gain) loss on disposal and impairment of assets	(78)	394
Effects of fair value adjustments to inventory	1,731	0
Adjusted EBITDA	$ 128,079	$ 83,054

Segments - Net Sales by Main Pr

Segments - Net Sales by Main Product Lines (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Revenue from external customers
Total net sales	$ 1,042,076	$ 802,573
Wallboard
Revenue from external customers
Total net sales	390,135	328,085
Ceilings
Revenue from external customers
Total net sales	138,071	114,643
Steel framing
Revenue from external customers
Total net sales	196,276	110,532
Complementary products
Revenue from external customers
Total net sales	$ 317,594	$ 249,313

Segments - Net sales by major g

Segments - Net sales by major geographic area (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 1,042,076	$ 802,573
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	862,790	679,321
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 179,286	$ 123,252

Segments - Property and equipme

Segments - Property and equipment, net, by major geographic area (Details) - USD ($) $ in Thousands	Jul. 31, 2021	Apr. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 323,967	$ 311,326
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	284,177	271,346
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 39,790	$ 39,980

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 31, 2021	Jul. 31, 2020
Computation of basic and diluted earnings per share of common stock
Net income	$ 61,202	$ 27,219
Basic earnings per common share:
Basic weighted average common shares outstanding (in shares)	43,089,000	42,624,000
Basic earnings per common share (in dollars per share)	$ 1.42	$ 0.64
Diluted earnings per common share:
Basic weighted average common shares outstanding (in shares)	43,089,000	42,624,000
Add: Common Stock Equivalents	883,000	393,000
Diluted weighted average common shares outstanding (in shares)	43,972,000	43,017,000
Diluted earnings per common share (in dollars per share)	$ 1.39	$ 0.63
Shares were not included in the calculation of Diluted loss per common share
Anti-dilutive shares (in shares)	0