Loading...
•
Jun 30, 2025
TopBuild Q2 2025 Earnings Report
TopBuild reported its second quarter 2025 results, including the Progressive Roofing acquisition.
Key Takeaways
TopBuild delivered second quarter sales of $1.3 billion, a 5.0% decline year-over-year, primarily due to an 8.3% decrease in Installation, partially offset by 1.1% growth in Specialty Distribution. Despite the sales decline, the company maintained a healthy adjusted EBITDA margin of 20.1% and reported increased operating profit and net income compared to the prior year.
Second quarter sales were $1.3 billion, a 5.0% decrease compared to the same period last year.
Adjusted EBITDA margin for the second quarter was 20.1%.
Net income increased to $151.6 million, up from $150.7 million in Q2 2024.
The company completed the acquisition of Progressive Roofing in July, adding a new platform for growth in commercial roofing services.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
TopBuild issued its full-year 2025 outlook, which includes the contribution from the Progressive Roofing acquisition. The guidance anticipates sales between $5.150 billion and $5.350 billion and adjusted EBITDA between $970 million and $1.070 billion.
Positive Outlook
- The Progressive Roofing acquisition is expected to more than offset further weakness in residential new construction and light commercial markets.
- Ongoing positive trends in heavy commercial and industrial end markets are encouraging.
- Excitement about new opportunities in commercial roofing.
- Strong long-term fundamentals for the business.
- M&A remains a priority for capital deployment.
Challenges Ahead
- Assumes further weakness in the residential new construction market.
- Assumes further weakness in the light commercial end markets.
- Weak consumer confidence is pressuring new residential housing demand.
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
Loading earnings performance data...
Loading earnings reaction data...