TopBuild Corp. (BLD) reported lackluster second-quarter 2024 results. Both earnings and sales lagged the Zacks Consensus Estimate. Shares of this installer and distributor of insulation and other building products lost 7.1% during the trading session and 1.3% in the after-hours trading session on Aug 6. This was mainly due to higher interest rates, project delays and supply constraints that continue to impact results across some residential and commercial end markets. The company has also trimmed its sales ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period June 30, 2024 ☐ 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 - TopBuild reported sales growth of 3.7% to $1.37 billion, marking the highest quarterly sales in the company's history [5][11] - Adjusted EBITDA was $277.7 million with an adjusted EBITDA margin of 20.3%, reflecting strong operational performance [5][13] - Adjusted earnings per diluted share increased by 3.2% to $5.42 compared to the previous year [15] Business Segment Data and Key Metrics Changes - The Installation segment's net sales grew by 5.2% to $851 million, with residential sales increasing by 6.7% [12] - Specialty Distribution net sales rose by 3.2% to $593 million, with residential sales up by 4.6% [12] - The adjusted EBITDA margin for the Installation segment was 22.3%, while Specialty Distribution's adjusted EBITDA margin was 17.7% [14] Market Data and Key Metrics Changes - The residential business experienced a growth of 5.4%, with improvements in the single-family environment [6] - The commercial and industrial markets faced project delays due to higher interest rates, but no project cancellations were reported [7][50] - Data center projects are a growing vertical, with over 150 active projects in various stages of construction in the U.S. [7] Company Strategy and Development Direction - The company prioritizes acquisitions, having completed six acquisitions totaling over $100 million in annual revenue in 2024 [16] - A $1 billion share repurchase program was approved, with approximately $505 million returned to shareholders in the second quarter [10][16] - The company is focused on driving profitable growth and operational improvements despite uneven housing demand and project delays [4][11] Management's Comments on Operating Environment and Future Outlook - Management noted that the current housing landscape is underbuilt, with rising household formations supporting long-term demand for TopBuild's products [4] - The company revised its 2024 sales guidance to $5.3 to $5.5 billion, reflecting choppiness in demand primarily in commercial markets [17] - Management expressed confidence in delivering strong profitable growth and increased shareholder value despite current challenges [11][19] Other Important Information - The company experienced supply constraints in fiberglass and certain commercial products, impacting volume growth [6][29] - Free cash flow for the trailing 12 months totaled $663.4 million, an increase of 11.9% compared to the previous year [15] Q&A Session Summary Question: Price realization and guidance reduction - Management explained that price realization was impacted by previous price decreases in gutters and spray foam, leading to a headwind of about 1% [21][22] - The guidance reduction was primarily due to choppiness in project volume in the commercial segment, with expectations for low single-digit growth in the second half [23] Question: Regional strength and weakness in single-family markets - Management identified strong markets in the Southeast, Carolinas, Florida, and Texas, while noting weakness in the Pacific Northwest and Northeast [26] Question: Capital allocation and buyback appetite - Management reiterated that M&A remains the top priority for capital allocation, with a healthy pipeline for future acquisitions [27] Question: Material availability and pricing - Management acknowledged tight supply in fiberglass and noted that project delays were more pronounced in the distribution side [28][29] Question: Multifamily market outlook - Management indicated that while there may be some volume slowness in multifamily, the current backlog should support performance into 2025 [51][53]

For the quarter ended June 2024, TopBuild (BLD) reported revenue of $1.37 billion, up 3.7% over the same period last year. EPS came in at $5.42, compared to $5.25 in the year-ago quarter. The reported revenue represents a surprise of -2.16% over the Zacks Consensus Estimate of $1.4 billion. With the consensus EPS estimate being $5.68, the EPS surprise was -4.58%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectatio ...

Great Place To Work。 Certified APR 2024-APR 2025 USA ZTopBuild Second Quarter 2024 Robert Buck, President & CEO Rob Kuhns, CFO Published August 6, 2024 | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

TopBuild (BLD) came out with quarterly earnings of $5.42 per share, missing the Zacks Consensus Estimate of $5.68 per share. This compares to earnings of $5.25 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -4.58%. A quarter ago, it was expected that this insulation products company would post earnings of $4.56 per share when it actually produced earnings of $4.81, delivering a surprise of 5.48%. Over the last four quarters, ...

Exhibit 99.1 TopBuild Reports Second Quarter Results Both segments drive growth, resulting in second quarter sales of $1.37 billion Delivered gross margin of 31% and adjusted EBITDA margin of 20.3% Revises 2024 guidance to $5.3 to $5.5 billion in revenue and $1.055 to $1.125 billion in adjusted EBITDA DAYTONA BEACH, FL – August 6, 2024 — TopBuild Corp. (NYSE:BLD) a leading installer and specialty distributor of insulation and building material products to the construction industry in the United States and C ...

Both segments drive growth, resulting in second quarter sales of $1.37 billion Delivered gross margin of 31% and adjusted EBITDA margin of 20.3% Revises 2024 guidance to $5.3 to $5.5 billion in revenue and $1.055 to $1.125 billion in adjusted EBITDA DAYTONA BEACH, Fla., Aug. 06, 2024 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD) a leading installer and specialty distributor of insulation and building material products to the construction industry in the United States and Canada today reported results for th ...

In its upcoming report, TopBuild (BLD) is predicted by Wall Street analysts to post quarterly earnings of $5.68 per share, reflecting an increase of 8.2% compared to the same period last year. Revenues are forecasted to be $1.4 billion, representing a year-over-year increase of 6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Prior to a company's e ...

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