TopBuild Q2 sales up 3.4% to $1.3B, adj. EPS $5.25 +18.5%, announces SPI acquisition

TopBuild Corp

2023-Q2 EPS reported $9.47 revenue$2,582,500,000

Sales $1.317B (+3.4% YoY); reported EPS $5.18 (+17.5%); adjusted EPS $5.25 (+18.5%).
Gross margin 32.0% (expanded 190 bps); adj. EBITDA margin 20.9% (+190 bps).
Installation segment sales +8.0% (volume +2.9%, price +2.9%, M&A +2.2%); op. margin +260 bps to 21.3%.
Signed agreement to acquire SPI (~$703M annual revenue); three smaller deals YTD (~$170M revenue).
FY2023 outlook: sales $5.025B-$5.175B; adj. EBITDA $950M-$1,000M.

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