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Dec 31, 2021
TopBuild Q4 2021 Earnings Report
TopBuild's Q4 2021 performance was marked by significant sales growth and margin expansion.
Key Takeaways
TopBuild reported a robust 47.4% increase in sales to $1.1 billion for Q4 2021, with net income rising by 10.7% to $78.4 million. Adjusted EBITDA margin expanded by 30 basis points to 17.1%. The integration of DI is progressing faster than expected, increasing confidence in achieving synergy targets.
Sales increased 47.4% to $1.1 billion, with same branch revenue up 12.5%.
Net income increased 10.7% to $78.4 million, and 44.9% on an adjusted basis.
Net income per diluted share was $2.37, or $3.12 on an adjusted basis.
Adjusted EBITDA margin expanded 30 basis points to 17.1%, with same branch basis up 220 basis points.
TopBuild
TopBuild
Forward Guidance
TopBuild provided 2022 sales and adjusted EBITDA guidance, expecting solid demand across residential, commercial, and industrial end-markets.
Positive Outlook
- Sales are expected to be between $4.5 billion and $4.65 billion.
- Adjusted EBITDA is projected to be between $770 million and $820 million.
- Demand is expected to remain solid in residential, commercial, and industrial markets.
- Focus remains on driving top line growth.
- Continuing the successful integration of DI.