secwatch.observer — SEC 8-K summary
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Issuer:     TopBuild Corp (BLD)
CIK:        0001633931
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001558370-23-007963
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TopBuild Q1 sales +8.2% to $1.27B; adj. EBITDA margin expands 150 bps to 18.8%
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- Sales $1.265B (+8.2% YoY); GAAP net income $135.9M ($4.28 diluted EPS); adjusted net income $138.4M ($4.36 diluted EPS).
- Gross margin 29.3% (+100 bps); adj. EBITDA margin 18.8% (+150 bps); SG&A as % of revenue down 80 bps to 13.2% adj.
- Installation segment sales up 13.4% (price +5.8%, volume +5.4%, M&A +2.2%); Specialty Distribution sales up 2.7% (price +5.7%, volume -3.0%).
- Completed acquisition of SRI Holdings in Q1; expected to contribute ~$62M annual revenue.
- 2023 outlook unchanged: sales $4.7-4.9B, adj. EBITDA $820-910M; M&A remains top capital allocation priority.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1633931/000155837023007963/0001558370-23-007963-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1633931/000155837023007963/bld-20230504x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-007963

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer