BLD
TopBuild Corp.428.59
+0.00+0%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
12.06BP/E (TTM)
21.79Basic EPS (TTM)
19.67Dividend Yield
0%Recent Filings
10-K
8-K
10-Q
Q3 FY2025 results
TopBuild posted Q3 net sales of $1.4B, up 1.4% y/y yet down q/q (derived), with gross margins slipping to 30.1% from 30.7% on lower volumes and residential pricing pressure, while operating profit fell 11.9% y/y to $215M (15.4% margin). Diluted EPS of $5.04 tracks to 28.2M shares. Acquisitions like Progressive (closed July 2025 for $820.5M cash, $443.6M goodwill, $397.6M intangibles over 12 years) fueled Installation growth, offsetting residential weakness. Cash swelled to $1.1B, FCF not disclosed in the 10-Q; total debt $2.9B (3.625/4.125/5.625% notes, term loan at 5.41%) with $933M revolver availability. Share buybacks trimmed shares. Litigation poses routine risks.
8-K
Q3 sales up, guidance raised
TopBuild posted Q3 sales of $1.4B, up 1.4% YoY via acquisitions despite volume drops, with adjusted EBITDA margin at 19.8%. Acquisitions added $1.2B annual revenue YTD, including SPI and Progressive Roofing, bolstering commercial roofing. Raised 2025 guidance to $5.35-5.45B sales, $1.01-1.06B adjusted EBITDA. Acquisitions drive growth.
8-K
Closes $1B SPI acquisition
TopBuild closed its $1 billion all-cash acquisition of Specialty Products & Insulation (SPI) on October 7, 2025, excluding SPI's metal building insulation business. SPI added $700M revenue and $75M EBITDA (TTM June 30, 2025), with 55% from recurring maintenance boosting non-cyclical streams; expects $35-40M annual synergies in two years. Deal at 12.4x EBITDA drops to 8.3x post-synergies. Immediately accretive to EPS.
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