TopBuild Q1 sales up 1.1% to $1.3B, net income up 12.2%, raises 2024 outlook, authorizes $1B buyback

TopBuild Corp

2024-Q1 EPS reported $4.79 revenue$1,278,717,000

Q1 2024 sales $1,278.7M (+1.1% YoY); net income $152.4M (+12.2%); diluted EPS $4.79 (+11.9%).
Adjusted EBITDA margin expanded 100 bps to 19.8%; operating margin up 100 bps to 16.8%.
Board authorized $1.0B share repurchase program; total available repurchases now $1.15B.
Raised 2024 outlook: sales $5.4B-$5.6B, adjusted EBITDA $1.065B-$1.155B.
YTD acquired 5 companies expected to generate ~$68M in annual revenue.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TopBuild Corp reported quarter ended March 31, 2024 results: revenue $1,278,717, net income $152,381, EPS $4.79. Guidance raised.

Period: quarter ended March 31, 2024
Revenue: $1,278,717
Net income: $152,381
EPS: $4.79
Guidance: raised
Result: reported results

Exact text from the filing

3 Months Ended 3/31/24 Reported Change “We are proud of our first quarter results, which reflect the strength of our business, our ongoing drive to improve, and the hard work of our team. “We continue to focus on growing the business – both organically and through M&A – and delivering operational improvements, as evidenced by the 100 basis point expansion in our first quarter adjusted EBITDA margin year over year.” ROBERT BUCK, PRESIDENT & CEO, TOPBUILD Sales $1,278,717 1.1% Gross Margin 30.3% 100 bps SG&A as % of revenue 13.5% 0 bps Operating Profit $214,508 7.6% Operating Margin 16.8% 100 bps Net Income $152,381 12.2% Net Income per diluted share $4.79 11.9%

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Source: SEC EDGAR

accession 0001558370-24-006898

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