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Mar 31, 2023
TopBuild Q1 2023 Earnings Report
TopBuild reported strong Q1 2023 results with solid top line growth and margin expansion.
Key Takeaways
TopBuild reported an 8.2% increase in sales, reaching $1.3 billion, and an expansion of gross margin by 100 basis points to 29.3%. The adjusted EBITDA margin also expanded by 150 basis points to 18.8%.
Sales increased 8.2% to $1.3 billion
Gross margin expanded 100 basis points to 29.3%
Adjusted EBITDA margin expanded 150 basis points to 18.8%
Completed one acquisition in the first quarter, SRI Holdings, which is expected to contribute approximately $62 million of annual revenue.
TopBuild
TopBuild
Forward Guidance
The Company’s outlook for 2023 remains unchanged from the outlook it provided in its fourth quarter 2022 financial results press release distributed on February 23, 2023.