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Jun 30, 2024
TopBuild Q2 2024 Earnings Report
Both segments drove growth, resulting in second quarter sales of $1.37 billion. The company delivered a gross margin of 31% and an adjusted EBITDA margin of 20.3%.
Key Takeaways
TopBuild reported solid second-quarter results with sales growth of 3.7% to $1.37 billion. Adjusted EBITDA reached $277.7 million, with an adjusted EBITDA margin of 20.3%. Both segments contributed to sales growth, although volume was impacted by higher interest rates and project delays.
Sales grew 3.7% to $1.37 billion.
Adjusted EBITDA was $277.7 million.
Adjusted EBITDA margin was 20.3%.
Completed 6 acquisitions year to date.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company revised its full-year 2024 guidance to $5.3 to $5.5 billion in revenue and $1.055 to $1.125 billion in adjusted EBITDA. This assumes mid-single digit residential growth.
Positive Outlook
- Mid-single digit residential growth expected
- Low single digit commercial/industrial growth expected
- Strong long-term fundamentals
- Undersupply of housing in the U.S.
- Potential for moderating interest rates
Challenges Ahead
- Revision largely reflects timing of demand
- Uncertainty regarding costs and expenses
- Potential variability of costs and expenses
- Uncertainty regarding housing starts
- Uncertainty regarding interest rates
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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