TopBuild Q1 2022 Earnings Report
Key Takeaways
TopBuild's first quarter 2022 results showed significant growth, with sales increasing by 57.4% to $1.2 billion. The company's focus on managing price, improving operational efficiency, and leveraging fixed costs drove solid conversion of top-line growth to the bottom line. Adjusted EBITDA margin expanded by 310 basis points to 18.7%.
Sales increased 57.4% to $1168918000.
Same branch revenue increased 18.7%.
Gross margin expanded 170 basis points to 28.3%, same branch gross margin expanded 290 basis points to 29.6%.
Same branch adjusted EBITDA margin expanded 310 basis points to 18.7%.
TopBuild
TopBuild
Forward Guidance
TopBuild is optimistic 2022 will be another strong year. Sales are expected to be between $4.65 billion and $4.8 billion, while adjusted EBITDA is projected to be between $810 million and $860 million.
Positive Outlook
- Unique operating model
- Scale
- Competitive advantages
- Outperforming in any environment
- Optimistic about a strong year
Challenges Ahead
- Housing starts
- Housing completions
- General and administrative expenses
- Weighted average diluted shares outstanding
- Interest rates