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Mar 31, 2020
TopBuild Q1 2020 Earnings Report
TopBuild's first quarter results were reported, demonstrating solid top-line growth and expanded operating margins across both business segments.
Key Takeaways
TopBuild reported a 5.5% increase in net sales, reaching $653.2 million, driven by higher sales volume and increased selling prices. The company's operating margin was 10.7%, and adjusted EBITDA margin improved to 13.5%. Net income increased to $50.8 million, or $1.51 per diluted share.
Net sales increased by 5.5% to $653.2 million.
Gross margin expanded by 120 basis points to 26.3%.
Operating margin reached 10.7%, with an adjusted operating margin of 10.8%, up 130 basis points.
Adjusted EBITDA increased by 18.5%, with adjusted EBITDA margin up 150 basis points to 13.5%.
TopBuild
TopBuild
Forward Guidance
TopBuild withdrew its 2020 Revenue and Adjusted EBITDA guidance due to uncertainty about the full scope of the COVID-19 impact.