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Jun 30, 2021
TopBuild Q2 2021 Earnings Report
TopBuild's second quarter results were driven by strong top-line growth and operating margin expansion.
Key Takeaways
TopBuild reported a strong second quarter with a 29.1% increase in net sales and expanded operating margins. The company successfully managed pricing amidst material cost increases and maintained productivity in a constrained market.
Net sales increased by 29.1%.
Gross margin expanded by 150 bps.
Operating margin reached 15.4%, a 270 bps increase.
Net income per diluted share was $2.72.
Forward Guidance
TopBuild expects the residential housing market to remain solid and the commercial market to continue to strengthen. The company will focus on profitable growth and creating long-term value.
Positive Outlook
- Residential housing market is expected to remain solid.
- Commercial market is expected to continue to strengthen.
- Focus will remain on driving profitable growth.
- Focus on creating long-term value for stakeholders.
- M&A remains the number one capital allocation priority.
Challenges Ahead
- Uncertainty regarding costs and expenses that may be incurred in the future
- Potential variability of costs and expenses that may be incurred in the future
- The effect of these excluded items may be significant
- Housing Starts 1,475 Low
Historical Earnings Impact
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Avg. Return Before/After Earnings
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