TopBuild (BLD) came out with quarterly earnings of $5.68 per share, beating the Zacks Consensus Estimate of $5.62 per share. This compares to earnings of $5.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.07%. A quarter ago, it was expected that this insulation products company would post earnings of $5.68 per share when it actually produced earnings of $5.42, delivering a surprise of -4.58%.Over the last four quarters, t ...

[Executive Summary](index=1&type=section&id=Executive%20Summary) [Third Quarter 2024 Performance Overview](index=1&type=section&id=1.1%20Third%20Quarter%202024%20Performance%20Overview) TopBuild reported record third-quarter sales of **$1.37 billion** and adjusted EBITDA of **$285 million**, driven by growth in both Installation (**4.2%**) and Specialty Distribution (**5.1%**) segments, achieving the highest quarterly sales and profit in company history | Metric | Q3 2024 Value | | :-------------------------- | :------------ | | Sales | $1.37 billion | | Adjusted EBITDA | $285 million | | Gross Margin | 30.7% | | Adjusted EBITDA Margin | 20.8% | | Installation Sales Growth | 4.2% | | Specialty Distribution Sales Growth | 5.1% | - Achieved the **highest level of quarterly sales and profit** in company history[2](index=2&type=chunk) [CEO Commentary](index=1&type=section&id=1.2%20CEO%20Commentary) CEO Robert Buck highlighted the company's strong performance, attributing it to a focus on growth and profitability, a healthy M&A pipeline, and significant capital return through share repurchases - Ongoing focus on **growth and profitability** enabled strong performance[2](index=2&type=chunk) - M&A pipeline is very healthy, with acquisitions being a priority for strong free cash flow[3](index=3&type=chunk) | Metric | Q3 2024 Value | | :------------------- | :------------ | | Share Repurchases | $413.9 million | | Shares Repurchased | 1.07 million | [2024 Outlook Update](index=1&type=section&id=1.3%202024%20Outlook%20Update) The company narrowed its 2024 guidance due to an uneven housing environment and project delays, but remains optimistic about future growth drivers like energy efficiency and housing supply deficit - Narrows 2024 outlook based on assumptions for a continued uneven housing environment and ongoing delay of certain commercial/industrial projects[2](index=2&type=chunk) - Optimistic about business with strengthening requirements for energy efficiency, the U.S. housing supply deficit, increasing household formations, and the prospect of lower interest rates driving growth[2](index=2&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Three Months Ended September 30, 2024](index=1&type=section&id=2.1%20Three%20Months%20Ended%20September%2030%2C%202024) For Q3 2024, TopBuild reported sales of **$1.37 billion**, gross profit of **$421.8 million**, net income of **$169.0 million**, diluted EPS of **$5.65**, and adjusted EBITDA of **$285.1 million** | Metric (in thousands) | 2024 Reported | 2023 Reported | 2024 Adjusted | 2023 Adjusted | | :-------------------- | :------------ | :------------ | :------------ | :------------ | | Sales | $1,373,268 | $1,326,120 | $1,373,268 | $1,326,120 | | Gross Profit | $421,813 | $420,690 | $421,813 | $420,690 | | Gross Margin | 30.7% | 31.7% | 30.7% | 31.7% | | SG&A | $177,820 | $183,198 | $175,888 | $174,758 | | Operating Profit | $243,993 | $237,492 | $245,925 | $245,932 | | Operating Margin | 17.8% | 17.9% | 17.9% | 18.5% | | Net Income | $168,960 | $167,601 | $170,075 | $172,507 | | Net Income per diluted share | $5.65 | $5.27 | $5.68 | $5.43 | | EBITDA | | | $285,057 | $283,690 | | EBITDA Margin | | | 20.8% | 21.4% | [Nine Months Ended September 30, 2024](index=2&type=section&id=2.2%20Nine%20Months%20Ended%20September%2030%2C%202024) For the first nine months of 2024, TopBuild's sales reached **$4.02 billion**, with gross profit of **$1.23 billion**, net income of **$472.1 million**, diluted EPS of **$15.19**, and adjusted EBITDA of **$816.6 million** | Metric (in thousands) | 2024 Reported | 2023 Reported | 2024 Adjusted | 2023 Adjusted | | :-------------------- | :------------ | :------------ | :------------ | :------------ | | Sales | $4,017,597 | $3,908,620 | $4,017,597 | $3,908,620 | | Gross Profit | $1,232,885 | $1,212,704 | $1,232,885 | $1,212,704 | | Gross Margin | 30.7% | 31.0% | 30.7% | 31.0% | | SG&A | $563,992 | $538,679 | $534,497 | $524,480 | | Operating Profit | $668,893 | $674,025 | $698,388 | $688,224 | | Operating Margin | 16.6% | 17.2% | 17.4% | 17.6% | | Net Income | $472,064 | $467,870 | $493,997 | $477,551 | | Net Income per diluted share | $15.19 | $14.74 | $15.89 | $15.04 | | EBITDA | | | $816,570 | $797,520 | | EBITDA Margin | | | 20.3% | 20.4% | [Sales Drivers](index=3&type=section&id=Sales%20Drivers) [Three Months Ended September 30, 2024 Sales Drivers](index=3&type=section&id=3.1%20Three%20Months%20Ended%20September%2030%2C%202024%20Sales%20Drivers) In Q3 2024, total sales increased by **3.6%**, driven by M&A (**2.4%**), price increases (**1.0%**), and volume growth (**0.4%**), with Installation sales up **4.2%** and Specialty Distribution up **5.1%** | Sales Driver | Installation | Specialty Distribution | TopBuild, net of elims | | :----------- | :----------- | :--------------------- | :--------------------- | | Volume | 0.5% | 3.0% | 0.4% | | Price | 1.1% | 0.8% | 1.0% | | M&A | 2.9% | 1.4% | 2.4% | | Dispositions | (0.2%) | | (0.1%) | | Total Sales Change | 4.2% | 5.1% | 3.6% | [Nine Months Ended September 30, 2024 Sales Drivers](index=3&type=section&id=3.2%20Nine%20Months%20Ended%20September%2030%2C%202024%20Sales%20Drivers) For the first nine months of 2024, total sales increased by **2.8%**, primarily due to M&A (**2.5%**) and price increases (**1.2%**), despite a slight volume decrease, with Installation sales up **4.5%** and Specialty Distribution up **2.1%** | Sales Driver | Installation | Specialty Distribution | TopBuild, net of elims | | :----------- | :----------- | :--------------------- | :--------------------- | | Volume | 0.6% | (0.2%) | (0.5%) | | Price | 1.2% | 1.2% | 1.2% | | M&A | 3.4% | 1.0% | 2.5% | | Dispositions | (0.6%) | | (0.4%) | | Total Sales Change | 4.5% | 2.1% | 2.8% | [Segment Profitability](index=3&type=section&id=Segment%20Profitability) [Three Months Ended September 30, 2024 Segment Profitability](index=3&type=section&id=4.1%20Three%20Months%20Ended%20September%2030%2C%202024%20Segment%20Profitability) In Q3 2024, Installation operating profit decreased by **1.7%** to **$172.2 million** (20.1% margin), while Specialty Distribution operating profit increased by **7.5%** to **$94.9 million** (15.8% margin) | Metric (in thousands) | Installation | Specialty Distribution | | :-------------------- | :----------- | :--------------------- | | Operating Profit | $172,243 | $94,911 | | Change (YoY) | (1.7%) | 7.5% | | Operating Margin | 20.1% | 15.8% | | Adj. Operating Profit | $172,274 | $95,109 | | Adj. Operating Margin | 20.1% | 15.8% | | Adj. EBITDA | $191,382 | $110,600 | | Change (YoY) | (1.8%) | 6.5% | | Adj. EBITDA Margin | 22.3% | 18.4% | [Nine Months Ended September 30, 2024 Segment Profitability](index=3&type=section&id=4.2%20Nine%20Months%20Ended%20September%2030%2C%202024%20Segment%20Profitability) For the first nine months of 2024, Installation operating profit increased by **1.1%** to **$499.7 million** (19.9% margin), and Specialty Distribution operating profit rose by **5.8%** to **$261.9 million** (15.1% margin) | Metric (in thousands) | Installation | Specialty Distribution | | :-------------------- | :----------- | :--------------------- | | Operating Profit | $499,717 | $261,862 | | Change (YoY) | 1.1% | 5.8% | | Operating Margin | 19.9% | 15.1% | | Adj. Operating Profit | $500,081 | $261,320 | | Adj. Operating Margin | 20.0% | 15.0% | | Adj. EBITDA | $556,816 | $307,507 | | Change (YoY) | 1.5% | 4.8% | | Adj. EBITDA Margin | 22.2% | 17.7% | [Capital Allocation](index=4&type=section&id=Capital%20Allocation) [Acquisitions](index=4&type=section&id=5.1%20Acquisitions) Year-to-date, TopBuild completed or announced **7 acquisitions**, projected to add approximately **$118 million** in annual revenue, with Shannon Global Energy Services being the most recent - Completed or announced **7 acquisitions** year-to-date[8](index=8&type=chunk) - Acquisitions are expected to generate approximately **$118 million** in annual revenue[8](index=8&type=chunk) | Company Name | Annual Revenue ($millions) | Month Closed | | :-------------------------- | :------------------------- | :----------- | | Brabble Insulation, Inc. (I) | 5.2 | February | | Morris Black & Sons, Inc (I) | 3.8 | March | | Pest Control Insulation LLC (D) | 25.4 | March | | Green Space Insulation LLC (I) | 6.0 | April | | Insulation Works, Inc. (I) | 28.0 | May | | Texas Insulation (I) | 38.9 | May | | Shannon Global Energy Services (D) | 10.8 | TBD | | **Total** | **118.1** | | [Share Repurchases](index=4&type=section&id=5.2%20Share%20Repurchases) In Q3 2024, TopBuild repurchased **1.07 million shares** for **$413.9 million**, bringing year-to-date repurchases to **2.3 million shares** totaling **$919.2 million**, with **$235.2 million** remaining | Metric | Q3 2024 | YTD 2024 | | :-------------------------------- | :------ | :------- | | Shares Repurchased (millions) | 1.07 | 2.3 | | Total Value of Repurchases (millions) | $413.9 | $919.2 | | Remaining Authorization (millions) | | $235.2 | [2024 Outlook](index=4&type=section&id=2024%20Outlook) TopBuild narrowed its full-year 2024 outlook, projecting sales between **$5.3 billion** and **$5.35 billion** and adjusted EBITDA between **$1.055 billion** and **$1.085 billion**, reflecting caution in housing and commercial/industrial markets - Narrows full year 2024 outlook based on assumptions for a continued uneven housing environment and ongoing delay of certain commercial/industrial projects[11](index=11&type=chunk) - The Company has not experienced an uptick in project cancellations[11](index=11&type=chunk) | Metric (in millions) | Low | High | | :------------------- | :--------- | :--------- | | Sales | $5,300.0 | $5,350.0 | | Adjusted EBITDA | $1,055.0 | $1,085.0 | [Company Information & Disclosures](index=4&type=section&id=Company%20Information%20%26%20Disclosures) [Conference Call Details](index=4&type=section&id=7.1%20Conference%20Call%20Details) A conference call to discuss Q3 2024 financial results was scheduled for November 5, 2024, at 9:00 a.m. Eastern Time, with a webcast available - Conference call to discuss Q3 2024 results scheduled for November 5, 2024, at 9:00 a.m. Eastern Time[13](index=13&type=chunk) [About TopBuild](index=5&type=section&id=7.2%20About%20TopBuild) TopBuild Corp. is a leading installer and specialty distributor of insulation and related building materials in the US and Canada, operating approximately 250 Installation and 170 Specialty Distribution branches - TopBuild Corp. is a leading installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada[14](index=14&type=chunk) - Operates approximately **250 Installation branches** and **170 Specialty Distribution branches**[14](index=14&type=chunk) [Use of Non-GAAP Financial Measures](index=5&type=section&id=7.3%20Use%20of%20Non-GAAP%20Financial%20Measures) TopBuild uses non-GAAP measures like Adjusted EBITDA for meaningful comparisons, with reconciliations to GAAP provided in the press release - Non-GAAP financial measures (e.g., Adjusted EBITDA) are used to provide additional meaningful comparisons between current and prior period results[15](index=15&type=chunk) - These measures are reconciled to their closest GAAP financial measures in tables within the press release[15](index=15&type=chunk) [Safe Harbor Statement](index=5&type=section&id=7.4%20Safe%20Harbor%20Statement) This section clarifies that the press release contains forward-looking statements subject to risks and uncertainties, and the company disclaims any obligation to update them - The press release contains forward-looking statements regarding expected financial and operational results, subject to risks and uncertainties[16](index=16&type=chunk) - Actual results may differ materially from forward-looking statements due to unpredictable factors[16](index=16&type=chunk) [Condensed Consolidated Financial Statements (Unaudited)](index=5&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) [Condensed Consolidated Statements of Operations](index=5&type=section&id=8.1%20Condensed%20Consolidated%20Statements%20of%20Operations) This section presents unaudited condensed consolidated statements of operations for Q3 and YTD 2024 and 2023, detailing net sales, cost of sales, gross profit, SG&A, operating profit, and net income | Metric (in thousands) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :-------------------- | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Net sales | $1,373,268 | $1,326,120 | $4,017,597 | $3,908,620 | | Cost of sales | 951,455 | 905,430 | 2,784,712 | 2,695,916 | | Gross profit | 421,813 | 420,690 | 1,232,885 | 1,212,704 | | SG&A expense | 177,820 | 183,198 | 563,992 | 538,679 | | Operating profit | 243,993 | 237,492 | 668,893 | 674,025 | | Interest expense | (18,449) | (18,830) | (55,811) | (55,427) | | Other, net | 2,355 | 6,015 | 24,987 | 12,542 | | Income before income taxes | 227,899 | 224,677 | 638,069 | 631,140 | | Income tax expense | (58,939) | (57,075) | (166,005) | (163,270) | | Net income | $168,960 | $167,602 | $472,064 | $467,870 | | Diluted EPS | $5.65 | $5.27 | $15.19 | $14.74 | [Condensed Consolidated Statements of Comprehensive Income](index=7&type=section&id=8.2%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) This section provides unaudited condensed consolidated statements of comprehensive income for Q3 and YTD 2024 and 2023, showing net income and other comprehensive income (loss) from foreign currency translation | Metric (in thousands) | Three Months Ended Sep 30, 2024 | Three Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2023 | | :-------------------- | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Net income | $168,960 | $167,602 | $472,064 | $467,870 | | Foreign currency translation adjustment | 2,463 | (3,008) | (3,464) | 3,029 | | Comprehensive income | $171,423 | $164,594 | $468,600 | $470,899 | [Condensed Consolidated Balance Sheets and Other Financial Data](index=8&type=section&id=8.3%20Condensed%20Consolidated%20Balance%20Sheets%20and%20Other%20Financial%20Data) This section presents unaudited condensed consolidated balance sheets as of September 30, 2024, and December 31, 2023, detailing assets, liabilities, and equity, along with receivable and inventory days | Metric (in thousands) | Sep 30, 2024 | Dec 31, 2023 | | :-------------------- | :----------- | :----------- | | Cash and cash equivalents | $257,342 | $848,565 | | Total current assets | 1,521,139 | 2,049,244 | | Total assets | $4,650,517 | $5,162,851 | | Total current liabilities | 756,140 | 771,538 | | Total liabilities | 2,536,248 | 2,599,196 | | Total liabilities and equity | $4,650,517 | $5,162,851 | | Other Financial Data | 2024 | 2023 | | :------------------- | :--- | :--- | | Receivable days | 49 | 51 | | Inventory days | 38 | 36 | | Accounts payable days | 58 | 60 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=8.4%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section provides unaudited condensed consolidated statements of cash flows for YTD 2024 and 2023, categorizing cash flows from operating, investing, and financing activities | Cash Flow Activity (in thousands) | Nine Months 2024 | Nine Months 2023 | | :-------------------------------- | :--------------- | :--------------- | | Net cash provided by operating activities | $509,798 | $588,478 | | Net cash used in investing activities | (142,918) | (181,016) | | Net cash used in financing activities | (957,701) | (31,872) | | Net (decrease) increase in cash and cash equivalents | (591,223) | 375,543 | | Cash and cash equivalents - End of period | $257,342 | $615,612 | [Segment Data & Non-GAAP Reconciliations (Unaudited)](index=10&type=section&id=Segment%20Data%20%26%20Non-GAAP%20Reconciliations%20(Unaudited)) [Segment Data](index=10&type=section&id=9.1%20Segment%20Data) This section details segment-level financial data for Installation and Specialty Distribution, including sales, operating profit, and adjusted EBITDA for Q3 and YTD 2024 and 2023 | Metric (in thousands) | Installation Q3 2024 | Installation Q3 2023 | Specialty Distribution Q3 2024 | Specialty Distribution Q3 2023 | | :-------------------- | :------------------- | :------------------- | :----------------------------- | :----------------------------- | | Sales | $856,350 | $821,673 | $600,387 | $571,009 | | Operating profit, as reported | $172,243 | $175,218 | $94,911 | $88,269 | | Operating margin, as reported | 20.1% | 21.3% | 15.8% | 15.5% | | EBITDA, as adjusted | $191,382 | $194,979 | $110,600 | $103,815 | | EBITDA margin, as adjusted | 22.3% | 23.7% | 18.4% | 18.2% | | Metric (in thousands) | Installation YTD 2024 | Installation YTD 2023 | Specialty Distribution YTD 2024 | Specialty Distribution YTD 2023 | | :-------------------- | :-------------------- | :-------------------- | :------------------------------ | :------------------------------ | | Sales | $2,506,076 | $2,397,818 | $1,739,007 | $1,703,871 | | Operating profit, as reported | $499,717 | $494,394 | $261,862 | $247,583 | | Operating margin, as reported | 19.9% | 20.6% | 15.1% | 14.5% | | EBITDA, as adjusted | $556,816 | $548,616 | $307,507 | $293,334 | | EBITDA margin, as adjusted | 22.2% | 22.9% | 17.7% | 17.2% | [Adjusted EBITDA Reconciliation](index=10&type=section&id=9.2%20Adjusted%20EBITDA%20Reconciliation) This section reconciles total net sales and operating profit to adjusted EBITDA for Q3 and YTD 2024 and 2023, detailing adjustments for rationalization charges, acquisition costs, and share-based compensation | Metric (in thousands) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :-------------------- | :------ | :------ | :------- | :------- | | Net sales after eliminations | $1,373,268 | $1,326,120 | $4,017,597 | $3,908,620 | | Operating profit, as reported | $243,993 | $237,492 | $668,893 | $674,025 | | Rationalization charges | 485 | 1,882 | (7) | 1,882 | | Acquisition related costs | 1,447 | 6,558 | 6,502 | 12,317 | | Acquisition termination fee | - | - | 23,000 | - | | Operating profit, as adjusted | $245,925 | $245,932 | $698,388 | $688,224 | | Share-based compensation | 3,646 | 4,194 | 13,405 | 11,080 | | Depreciation and amortization | 35,486 | 33,564 | 104,777 | 98,216 | | EBITDA, as adjusted | $285,057 | $283,690 | $816,570 | $797,520 | [Non-GAAP Reconciliations](index=13&type=section&id=9.3%20Non-GAAP%20Reconciliations) This section provides detailed reconciliations of various GAAP financial measures to their corresponding non-GAAP adjusted figures for Q3 and YTD 2024 and 2023 [Gross Profit Reconciliation](index=13&type=section&id=9.3.1%20Gross%20Profit%20Reconciliation) | Metric (in thousands) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :-------------------- | :------ | :------ | :------- | :------- | | Net sales | $1,373,268 | $1,326,120 | $4,017,597 | $3,908,620 | | Gross profit, as reported | $421,813 | $420,690 | $1,232,885 | $1,212,704 | | Acquisition related costs | - | - | - | - | | Gross profit, as adjusted | $421,813 | $420,690 | $1,232,885 | $1,212,704 | | Gross margin, as reported | 30.7% | 31.7% | 30.7% | 31.0% | | Gross margin, as adjusted | 30.7% | 31.7% | 30.7% | 31.0% | [Selling, General and Administrative Expense Reconciliation](index=13&type=section&id=9.3.2%20Selling%2C%20General%20and%20Administrative%20Expense%20Reconciliation) | Metric (in thousands) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :-------------------- | :------ | :------ | :------- | :------- | | SG&A expense, as reported | $177,820 | $183,198 | $563,992 | $538,679 | | Rationalization charges | 485 | 1,882 | (7) | 1,882 | | Acquisition related costs | 1,447 | 6,558 | 6,502 | 12,317 | | Acquisition termination fee | - | - | 23,000 | - | | SG&A expense, as adjusted | $175,888 | $174,758 | $534,497 | $524,480 | [Operating Profit Reconciliation](index=13&type=section&id=9.3.3%20Operating%20Profit%20Reconciliation) | Metric (in thousands) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :-------------------- | :------ | :------ | :------- | :------- | | Operating profit, as reported | $243,993 | $237,492 | $668,893 | $674,025 | | Rationalization charges | 485 | 1,882 | (7) | 1,882 | | Acquisition related costs | 1,447 | 6,558 | 6,502 | 12,317 | | Acquisition termination fee | - | - | 23,000 | - | | Operating profit, as adjusted | $245,925 | $245,932 | $698,388 | $688,224 | | Operating margin, as reported | 17.8% | 17.9% | 16.6% | 17.2% | | Operating margin, as adjusted | 17.9% | 18.5% | 17.4% | 17.6% | [Income Per Common Share Reconciliation](index=13&type=section&id=9.3.4%20Income%20Per%20Common%20Share%20Reconciliation) | Metric (in thousands) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :-------------------- | :------ | :------ | :------- | :------- | | Income before income taxes, as reported | $227,899 | $224,677 | $638,069 | $631,140 | | Rationalization charges | 485 | 1,882 | (7) | 1,882 | | Acquisition related costs | 1,447 | 6,558 | 6,502 | 12,317 | | Acquisition termination fee | - | - | 23,000 | - | | Income before income taxes, as adjusted | 229,831 | 233,117 | 667,564 | 645,339 | | Tax rate at 26.0% | (59,756) | (60,610) | (173,567) | (167,788) | | Income, as adjusted | $170,075 | $172,507 | $493,997 | $477,551 | | Income per common share, as adjusted | $5.68 | $5.43 | $15.89 | $15.04 | [Reconciliation of Adjusted EBITDA to Net Income](index=14&type=section&id=9.4%20Reconciliation%20of%20Adjusted%20EBITDA%20to%20Net%20Income) This section reconciles net income to adjusted EBITDA for Q3 and YTD 2024 and 2023, detailing adjustments for interest, tax, depreciation, share-based compensation, rationalization, and acquisition costs | Metric (in thousands) | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 | | :-------------------- | :------ | :------ | :------- | :------- | | Net income, as reported | $168,960 | $167,602 | $472,064 | $467,870 | | Interest expense and other, net | 16,094 | 12,815 | 30,824 | 42,885 | | Income tax expense | 58,939 | 57,075 | 166,005 | 163,270 | | Depreciation and amortization | 35,486 | 33,564 | 104,777 | 98,216 | | Share-based compensation | 3,646 | 4,194 | 13,405 | 11,080 | | Rationalization charges | 485 | 1,882 | (7) | 1,882 | | Acquisition related costs | 1,447 | 6,558 | 6,502 | 12,317 | | Acquisition termination fee | - | - | 23,000 | - | | EBITDA, as adjusted | $285,057 | $283,690 | $816,570 | $797,520 | [Acquisition Adjusted Net Sales](index=15&type=section&id=9.5%20Acquisition%20Adjusted%20Net%20Sales) This section presents net sales adjusted for the pro forma effect of acquired branches for the trailing twelve months ended September 30, 2024, and quarterly data from Q4 2023 to Q3 2024 | Metric (in thousands) | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | Trailing Twelve Months Ended Sep 30, 2024 | | :-------------------- | :------ | :------ | :------ | :------ | :---------------------------------------- | | Net Sales | $1,286,074 | $1,278,717 | $1,365,612 | $1,373,268 | $5,303,671 | | Acquisitions proforma adjustment | 28,367 | 24,075 | 10,603 | - | 63,045 | | Net sales, acquisition adjusted | $1,314,441 | $1,302,792 | $1,376,215 | $1,373,268 | $5,366,716 | [2024 Estimated Adjusted EBITDA Range](index=16&type=section&id=9.6%202024%20Estimated%20Adjusted%20EBITDA%20Range) This section outlines the estimated adjusted EBITDA range for the twelve months ending December 31, 2024, from **$1.055 billion** to **$1.085 billion**, with a reconciliation from estimated net income | Metric (in millions) | Low | High | | :------------------- | :------ | :------ | | Estimated net income, as reported | $606.0 | $634.0 | | Interest expense and other, net | 48.0 | 45.0 | | Income tax expense | 213.0 | 222.0 | | Depreciation and amortization | 142.0 | 140.0 | | Share-based compensation | 17.0 | 16.0 | | Acquisition related costs & rationalization charges | 29.0 | 28.0 | | Estimated EBITDA, as adjusted | $1,055.0 | $1,085.0 |

Third quarter sales of $1.37 billion driven by 4.2% Installation growth and 5.1% Specialty Distribution growth Delivered gross margin of 30.7% and adjusted EBITDA margin of 20.8% Narrows 2024 guidance to $5.3 to $5.35 billion in revenue and $1.055 to $1.085 billion in adjusted EBITDA DAYTONA BEACH, Fla., Nov. 05, 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 C ...

Core Viewpoint - TopBuild (BLD) is expected to report quarterly earnings of $5.62 per share, a 3.5% increase year-over-year, with revenues projected at $1.4 billion, reflecting a 5.4% year-over-year growth [1]. Earnings Estimates - The consensus EPS estimate has been revised down by 0.8% in the last 30 days, indicating a reassessment by analysts [2]. - Revisions to earnings estimates are crucial for predicting investor actions, as there is a strong correlation between these revisions and short-term stock price performance [3]. Key Metrics Projections - Analysts predict 'Net Sales- Specialty Distribution' to be $598.66 million, a 4.8% year-over-year increase [5]. - 'Net Sales- Installation' is expected to reach $877.98 million, indicating a 6.9% increase from the prior-year quarter [5]. - 'Operating profit, as reported- Installation' is forecasted at $177.47 million, up from $175.22 million in the same quarter last year [5]. - 'Operating profit, as reported- Specialty Distribution' is estimated to be $92.12 million, compared to $88.27 million a year ago [6]. Market Performance - TopBuild shares have decreased by 11.7% over the past month, contrasting with a 1% increase in the Zacks S&P 500 composite [6]. - With a Zacks Rank of 4 (Sell), TopBuild is anticipated to underperform the overall market in the near future [6].

Thermal Acoustic Blanket Insulation Fabricator Strengthens TopBuild's Mechanical Insulation Offerings for Commercial and Industrial Customers; Approximately $11 Million in Annual Revenue DAYTONA BEACH, Fla., Oct. 30, 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, has entered into an agreement to acquire Shannon Global Energy Solutions, based in North T ...

Wall Street expects a year-over-year increase in earnings on higher revenues when TopBuild (BLD) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 5. ...

Company Overview - TopBuild Corp. is a leading installer and specialty distributor of insulation and building material products in the construction industry across the United States and Canada [3] - The company operates approximately 240 branches for insulation installation services and around 170 branches for specialty distribution [3] Upcoming Financial Results - TopBuild Corp. will release its third quarter results on November 5, 2024, prior to 7:00 a.m. Eastern time [1] - A conference call to review the financial results will take place at 9:00 a.m. Eastern time on the same day [1] Participation Details - To participate in the live call, interested parties can dial 1-877-407-9037 or internationally 1-201-493-6738 approximately ten minutes before the scheduled time [2] - A live, listen-only webcast will be available on the company's website [2]

A month has gone by since the last earnings report for TopBuild (BLD) . Shares have added about 1% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is TopBuild due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. TopBuild Q2 Earnings & Sales Miss Estimates, View Down TopB ...

DAYTONA BEACH, Fla., Sept. 03, 2024 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD), a leading installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada, announced that Robert Buck, President and Chief Executive Officer, will participate in a live fireside chat at Jefferies Industrial Conference on Wednesday, September 4 at 11:00 a.m. Eastern time. The 30-minute presentation will be webcast and can be accessed at BLD f ...

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 ...