TopBuild Q3 net sales up 1.9%, adjusted EPS $5.43, acquires SPI for $960M

TopBuild Corp

2023-Q3 EPS reported $14.74 revenue$3,908,620,000

Q3 net sales $1.33B (+1.9% YoY); adjusted diluted EPS $5.43 (+13.1%).
Gross margin 31.7% (+130 bps); adjusted EBITDA margin 21.4% (+150 bps).
Installation segment sales +4.9%; volume -3.5% but price +3.6% and M&A +4.8%.
Announced $960M all-cash acquisition of SPI; expects ~$700M annual revenue from SPI.
FY 2023 guidance: sales $5.13B-$5.21B, adjusted EBITDA $1.025B-$1.055B.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

TopBuild Corp reported the quarter ended September 30, 2023 results: revenue $1,326,120, net income $167,602, EPS $5.27. Guidance reaffirmed.

Period: the quarter ended September 30, 2023
Revenue: $1,326,120
Net income: $167,602
EPS: $5.27
Guidance: reaffirmed
Result: reported results

Exact text from the filing

business model provides multiple avenues for growth, and we see continued opportunities in all three end markets we serve.” ROBERT BUCK, PRESIDENT & CEO, TOPBUILD Sales $1,326,120 1.9% Gross Margin 31.7% 130 bps SG&A as % of revenue 13.8% 50 bps Operating Profit $237,492 6.6% Operating Margin 17.9% 80 bps Net Income $167,602 9.0% Net Income per

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Source: SEC EDGAR

accession 0001558370-23-017056

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