Loading...
•
Mar 31, 2024
TopBuild Q1 2024 Earnings Report
TopBuild's first quarter results reflected business strength and operational improvements.
Key Takeaways
TopBuild reported a 1.1% increase in sales, reaching $1.3 billion in the first quarter. The company's gross margin and adjusted EBITDA margin both expanded by 100 basis points, showcasing improved profitability. TopBuild also announced a $1 billion share repurchase authorization, signaling confidence in its long-term strategy.
Sales increased by 1.1% to $1.3 billion.
Gross margin expanded by 100 basis points to 30.3%.
Adjusted EBITDA margin expanded by 100 basis points to 19.8%.
A $1 billion share repurchase authorization was announced.
TopBuild
TopBuild
TopBuild Revenue by Segment
TopBuild Revenue by Geographic Location
Revenue by Segment
Installation Revenue
CapyFin.comSpecialty Distribution Revenue
CapyFin.comRevenue by Geographic Location
Residential Revenue
CapyFin.comCommercial/Industrial Revenue
CapyFin.com Forward Guidance
TopBuild raised its outlook for 2024, reflecting strong first-quarter profitability and incorporating completed acquisitions.
Positive Outlook
- Unique business model
- Commitment to driving shareholder value
- Ability to successfully navigate changes in the macro environment
- Sales are expected to be between $5.4 billion and $5.6 billion
- Adjusted EBITDA is expected to be between $1.065 billion and $1.155 billion
Challenges Ahead
- Outlook reflects management’s current view of present and future market conditions and is based on assumptions such as housing starts, general and administrative expenses, and interest rates.
- Targets do not include any effects related to potential acquisitions or divestitures that may occur after the date of this press release.
- A reconciliation of non-GAAP targets to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding the costs and expenses that may be incurred in the future.
- The effect of these excluded items may be significant.
- Factors that could cause actual long-term results to differ materially from TopBuild’s current expectations are discussed in the Company’s most recent Annual Report on Form 10-K and subsequent SEC reports.
Revenue & Expenses
Visualization of income flow from segment revenue to net income