TopBuild Corp
BLD
ISIN US89055F1030 / Valor 28453293
TopBuild Corp
UMushroom community rating:
About company
TopBuild Corp. is a leading installer and specialty distributor of insulation and building material products in the North American construction industry. The company provides insulation solutions and building material installation services through TruTeam, which has approximately 235 branches, as well as distributes building insulation and building product materials for residential and commercial end-markets through Service Partners. Additionally, TopBuild offers mechanical insulation and other specialty products for commercial and industrial end-markets through Distribution International. With a national footprint and a focus on operational excellence, the company leverages its local market presence and industry expertise to build strong relationships with customers. TopBuild's diversified business model includes installation and specialty distribution in various sectors, positioning the company for continued growth and success.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (20.12.2024):
Sales Growth
In the third quarter of 2024, TopBuild Corp. reported sales of $1.37 billion, marking a significant achievement as the highest level of quarterly sales in the company's history. This growth was driven by a 4.2% increase in Installation sales and a 5.1% rise in Specialty Distribution sales, reflecting the company's strong performance in a stable macroeconomic environment.
Profit Margins
TopBuild Corp. achieved a gross margin of 30.7% and an adjusted EBITDA margin of 20.8% for the third quarter of 2024. The adjusted EBITDA for the quarter was $285 million, showcasing an improvement of 50 basis points in the margin, excluding the previous year's higher-than-normal multi-family and commercial margins.
2024 Financial Outlook
The company has narrowed its 2024 financial guidance, projecting revenue between $5.3 billion and $5.35 billion, and adjusted EBITDA ranging from $1.055 billion to $1.085 billion. This outlook considers the ongoing uneven housing market and delays in certain commercial and industrial projects, while remaining optimistic about future growth drivers.
Capital Allocation and Share Repurchases
During the third quarter of 2024, TopBuild Corp. repurchased approximately 1.07 million shares, totaling $413.9 million. Year-to-date, the company has repurchased 2.3 million shares for $919.2 million, with $235.2 million remaining under the current authorization as of September 30, 2024. This reflects the company's confidence in its financial outlook and capital deployment strategy.
Acquisitions
TopBuild Corp. has completed or announced seven acquisitions in 2024, expected to generate approximately $118 million in annual revenue. Notably, the acquisition of Shannon Global Energy Services, a leading thermal acoustic blanket insulation fabricator, is anticipated to close in the fourth quarter, further strengthening TopBuild's market position.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
9258 M
Market cap (USD)
31,311
Daily traded volume (Shares)
313.78 / 309.14
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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