Topbuild Corp Stock Price, News & Analysis

TopBuild Corp. (NYSE:BLD) has enhanced its market presence by acquiring Tonks Insulation in Utah and Shepherds Insulation in Colorado, which collectively generated about $6 million in revenue in 2020. CEO Robert Buck highlighted the strategic importance of these acquisitions, noting the strong management continuity with founder Gary Tonks. Year-to-date, TopBuild has completed ten acquisitions, projected to contribute nearly $1 billion in annual revenue. The company aims to bolster its M&A efforts across residential, commercial, and industrial sectors.

TopBuild Corp. (NYSE:BLD) reported a strong third-quarter performance, with a 21.3% increase in net sales to $845.8 million, driven by price increases and acquisitions. Gross margin expanded by 120 basis points to 29.6%, and operating profit rose to $133.8 million, representing a significant improvement. Net income was $95.4 million, or $2.88 per diluted share, compared to $70 million last year. Adjusted EBITDA increased by 32.8% to $158.2 million. The company maintains a strong liquidity position with $709.8 million available. The CEO expressed confidence in future growth across various markets.

TopBuild Corp. (NYSE: BLD) has completed the acquisition of Distribution International for $1 billion, enhancing its position in the $5 billion mechanical insulation market. The merger is expected to boost earnings per share in the first full year and provide $35M to $40M in cost synergies. As of June 30, 2021, the combined entity reported trailing twelve-month revenues of $3.93 billion with adjusted EBITDA of $647 million. This strategic acquisition positions TopBuild as a leader in energy-saving insulation products across key markets.

TopBuild Corp. (NYSE:BLD) has acquired California Building Products (CBP), enhancing its presence in northern California's insulation market. CBP generated approximately $18 million in revenue for the twelve months ending June 30, 2021. The acquisition is part of TopBuild's aggressive growth strategy, having completed seven acquisitions this year, projected to generate nearly $250 million in annual revenue. President and CEO Robert Buck emphasized that CBP's leadership will remain intact, aiming to grow the existing customer base and operations.

TopBuild Corp. (NYSE:BLD) will announce its third quarter 2021 financial results on November 2, 2021, at 7:00 a.m. ET. A conference call to discuss the results will take place at 9:00 a.m. ET the same day. Interested parties can join the live call by dialing (877) 407-9037, and a webcast will be available on the company’s website. TopBuild is a leading installer and distributor of insulation and building materials in the U.S., operating through approximately 310 branches. Further details can be found on their official website.

TopBuild Corp. (NYSE:BLD) has announced a private offering of $500 million in senior notes due 2032, priced at 4.125%. The proceeds will be used to finance the acquisition of Distribution International, Inc. (DI). The offering is expected to close on October 14, 2021, subject to market conditions. Notably, the notes are subject to a mandatory redemption if the acquisition is not completed by August 7, 2022. TopBuild cautions investors about potential risks including the impact of COVID-19 on construction and the challenges of integrating DI.

TopBuild Corp. (NYSE:BLD) announced a private offering of $500 million senior notes due 2032, aimed at funding the purchase of Distribution International, Inc. (DI) and related expenses. The offering is not conditioned upon the completion of the acquisition, but the notes will face special mandatory redemption if the acquisition isn't finalized by August 7, 2022. This offering is subject to market conditions and will not be registered under the Securities Act. The company warns that forward-looking statements may differ materially due to various risks, including impacts from COVID-19.

TopBuild Corp. (NYSE:BLD) announced the retirement of CFO John Peterson, effective March 31, 2022, after over six years with the company. Robert Kuhns, currently Vice President and Corporate Controller, will succeed him. CEO Robert Buck expressed gratitude for Peterson's contributions to the company's growth and highlighted Kuhns' readiness to take on the CFO role, ensuring a smooth transition. Kuhns brings a strong finance background from previous experience at Mohawk Industries and holds CPA credentials. Additional details on Peterson's retirement arrangements will be filed with the SEC.

TopBuild Corp. (NYSE:BLD) has appointed Ernesto Bautista, III, former CFO of BJ Energy Solutions, to its Board of Directors, expanding the board to eight members. Bautista brings over 15 years of experience as a CFO for publicly traded companies, enhancing the board's financial expertise. Chairman Alec Covington expressed excitement about Bautista's contribution, while CEO Robert Buck anticipates that his corporate strategy and financial management experience will benefit the company's growth. Bautista is a CPA and holds degrees from Rice University.