Investors interested in Building Products - Miscellaneous stocks are likely familiar with TopBuild (BLD) and Advanced Drainage Systems (WMS) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, an ...

TopBuild Corp. (NYSE:BLD) Q3 2023 Earnings Conference Call October 31, 2023 9:00 AM ET Company Participants Tabitha Zane - VP, IR Robert Buck - President and CEO Robert Kuhns - CFO Conference Call Participants Mike Rehaut - JPMorgan Stephen Kim - Evercore ISI Joe Ahlersmeyer - Deutsche Bank Ken Zener - Seaport Research Partners Adam Baumgarten - Zelman Phil Ng - Jefferies Noah Merkousko - Stephens Jeff Stevenson - Loop Capital Markets Reuben Garner - The Benchmark Company Keith Hughes - Truist Securities Ra ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) ...

*See Appendix for Reconciliation 13 ☎TopBuild Core Strengths ▪ Laser focus on core business, insulation ▪ Multiple avenues for growth ▪ Unrivaled North American size and scale ▪ Operational excellence and performance driven ▪ M&A a core competency ▪ Recognized for exceptional labor, service and reliability ▪ Emphasis on talent development ▪ Safety of our people always comes first ▪ Business is inherently environmentally friendly Our Values | --- | --- | --- | --- | |----------------------------------------- ...

TopBuild Corp. (NYSE:BLD) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET Company Participants Tabitha Zane - Vice President, Investor Relations Robert Buck - President and Chief Executive Officer Robert Kuhns - Chief Financial Officer Conference Call Participants Kenneth Zener - Seaport Research Partners Stephen Kim - Evercore Joseph Ahlersmeyer - Deutsche Bank Jeffrey Stevenson - Loop Capital Markets Adam Baumgarten - Zelman & Associates Phil Ng - Jefferies Keith Hughes - Truist Securities Noah ...

FORM 10-Q Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 193 For the transition period from to Commission file number: 001-36870 TopBuild Corp. (Exact name of Registrant as Specified in its Charter) Delaware (State or Other Jurisdiction of Inc ...

Financial Data and Key Metrics Changes - Revenue increased by 8.2% to $1.3 billion in Q1 2023, with adjusted EBITDA rising by 18.1% to $238.3 million, resulting in an adjusted EBITDA margin of 18.8%, a 150-basis point improvement compared to Q1 2022 [3][11][39] - Adjusted earnings per diluted share were $4.36, reflecting a 25% increase from the prior year [23] - Operating cash flow for Q1 was $169.8 million, compared to $89.5 million in the prior year, driven by an 18.4% increase in net income and improvements in working capital [23][24] Business Segment Data and Key Metrics Changes - Installation segment sales increased by 13.4% to $767.1 million, driven by strong volume growth and higher selling prices [39] - Specialty Distribution segment sales increased by 2.7% to $558.4 million, with a decline in residential distribution volume offset by an 8.7% increase in sales from commercial and industrial channels [6][39] - Adjusted EBITDA margin for the Installation segment was 21.4%, an improvement of 230 basis points, while the Specialty Distribution segment's margin was 15.8%, a 20-basis point improvement [11] Market Data and Key Metrics Changes - The company expects sales in the commercial and industrial end markets to expand by low to mid-single digits, with residential sales anticipated to decline in the mid to upper single digits [25][42] - The total addressable market for installation is estimated at over $17.5 billion, with the company holding a 20% market share [8] Company Strategy and Development Direction - The company emphasizes operational efficiency and excellence, leveraging supply chain efficiencies and best practices across its network [4][9] - Acquisitions remain the number one capital allocation priority, with a robust pipeline of prospects and a focus on high-quality installation-focused companies [12][37] - The company aims to enhance its presence in all three end markets: residential, commercial, and industrial, with a commitment to continuous improvement [8][43] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about the future, noting strong fundamentals in the housing industry supported by limited supply and favorable demographic trends [16][30] - The company has not seen an impact on demand in commercial or industrial markets despite recent banking turmoil, with a robust backlog and ongoing bidding for projects into late 2024 and early 2025 [18][25] - Management highlighted the importance of their advanced ERP system for real-time monitoring of productivity and operational control [17][43] Other Important Information - The company generated $154 million of free cash flow in Q1, up 117% year-over-year, and expects to exceed $600 million in free cash flow for the full year [99] - The company ended Q1 with net debt leverage of 1.15x trailing 12 months adjusted EBITDA and total liquidity of $766.1 million [24] Q&A Session Summary Question: Why did the company not raise guidance despite strong results? - Management indicated that while Q1 results were in line with expectations, there is still uncertainty in the back half of the year, leading to a cautious approach [30] Question: What is the outlook for single-family starts? - Management noted that single-family starts have been significantly below completions, but there is cautious optimism for potential increases in starts, which would be upside to forecasts [30][50] Question: How is the multifamily market expected to perform? - Management expects strong performance in the multifamily sector, with a healthy backlog and product availability for loosefill installations [32] Question: What are the expectations for pricing in the residential business? - Management stated that pricing has remained steady due to tightness in materials and labor, with no significant competitive pressures noted [53] Question: What is the outlook for commercial and industrial growth? - Management expects low to mid-single-digit growth in commercial and industrial markets, with strong performance in Q1 exceeding initial expectations [55][74]

| --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------|------------------------------|-------|-------|----------------------------------|-------|---------------------------------| | The following table summarizes our \nCash and cash equivalents (a) | liquidity, in thousands: | | | March 31, 2023 \n$ 333,778 | As of | December 31, 2022 \n$ 240,069 | | | | | | | | | | Revolving facility 500,000 500,000 | | | | | | | | Less: standby letters of ...

TopBuild Corp. (NYSE:BLD) Q4 2022 Results Conference Call February 23, 2023 9:00 AM ET Company Participants Tabitha Zane - VP, IR Robert Buck - President and CEO Rob Kuhns - CFO Conference Call Participants Stephen Kim - Evercore ISI Joe Ahlersmeyer - Deutsche Bank Phil Ng - Jefferies Mike Rehaut - JPMorgan Keith Hughes - Truist Securities Adam Baumgarten - Zelman Jeff Stevenson - Loop Capital Markets Trey Grooms - Stephens Inc. Dan Oppenheim - Credit Suisse Operator Greetings. Welcome to the TopBuild’s Fou ...

The market for the distribution and installation of building product materials is highly fragmented and competitive. Barriers to entry for local competitors are relatively low, increasing the risk that additional competitors will emerge. Our ability to maintain our competitive position depends on a number of factors including our scale, sales channels, diversified product lines, operation capabilities and strong local presence. ● Leverage systems, management, and best practice processes across both our Inst ...