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Dec 31, 2024
TopBuild Q4 2024 Earnings Report
TopBuild reported revenue growth and improved margins in Q4 2024.
Key Takeaways
TopBuild Corp. posted Q4 2024 revenue of $1.31 billion, marking a 2.0% year-over-year increase, driven by a 6.6% rise in Specialty Distribution sales. Operating income grew to $217.45 million, while net income reached $150.54 million. Adjusted EBITDA margin improved slightly to 19.7%.
Revenue increased by 2.0% year-over-year to $1.31 billion.
Specialty Distribution sales grew by 6.6%, while Installation remained flat.
Net income rose to $150.54 million, with diluted EPS at $5.11.
Adjusted EBITDA margin improved to 19.7%.
Forward Guidance
TopBuild expects stable revenue in FY 2025 with ongoing capital investments and a focus on acquisitions.
Positive Outlook
- Projected full-year revenue of $5.05 - $5.35 billion.
- Adjusted EBITDA expected between $925 million and $1.075 billion.
- Acquisitions remain a top priority for growth.
- Investments in operational efficiencies and energy reduction initiatives.
- Potential for further margin improvement through pricing strategies.
Challenges Ahead
- Residential sales expected to decline mid-single digits.
- Commercial/Industrial growth projected at low-single digits.
- Higher expected capital expenditures at 1.5 - 2.0% of sales.
- Interest expense forecasted between $49 - $55 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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