Loading...
•
Sep 30, 2020
TopBuild Q3 2020 Earnings Report
TopBuild's third quarter results in 2020 reflected an increase in net sales and margin expansion.
Key Takeaways
TopBuild reported a 2.2% increase in net sales to $697.2 million, driven by increased volume and sales from acquisitions. The company's gross margin increased by 210 basis points to 28.4%, and operating margin was 14.6%, up 280 basis points. Net income was $70.0 million, or $2.11 per diluted share, while adjusted EBITDA was $119.2 million, a 21.6% increase, with adjusted EBITDA margin improving 270 basis points to 17.1%.
Net sales increased 2.2% to $697.2 million, driven by increased volume and sales from acquisitions.
Gross margin increased 210 basis points to 28.4%.
Operating margin, both reported and adjusted, was 14.6%, up 280 basis points.
Adjusted EBITDA was $119.2 million, compared to $98.0 million, a 21.6% increase, and adjusted EBITDA margin improved 270 basis points to 17.1%.
TopBuild
TopBuild
Forward Guidance
Looking ahead, the company is bullish on the overall fundamentals of its end markets and its ability to leverage its size and scale to drive market share.