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TopBuild Corp. reports developments tied to its insulation, commercial roofing and specialty distribution businesses in the United States and Canada. The company operates through Installation Services, which installs insulation, commercial roofing and other building products, and Specialty Distribution, which distributes building and mechanical insulation, insulation accessories and related materials for residential, commercial and industrial end markets.
Recurring TopBuild news includes operating and financial results, acquisitions that expand insulation, spray foam, fireproofing or commercial roofing capabilities, leadership and governance updates, material agreements, shareholder voting matters and capital-structure disclosures. Company updates also address branch-network operations, supply-chain responsibilities and growth initiatives across its installation and distribution platforms.
TopBuild Corp. (NYSE:BLD) has acquired Billings Insulation, a residential insulation installer operating in Montana and Northern Wyoming. This acquisition adds approximately $6.5 million in annual revenue, reinforcing TopBuild's market position. Billings Insulation has built a solid customer base over 17 years, contributing to TopBuild’s strategy of growth through acquisitions. TopBuild has notably added three residential insulation companies since November, indicating a focus on expanding its service offerings in growing markets.
TopBuild Corp. (NYSE:BLD) will announce its fourth quarter 2021 results on February 22, 2022, at 7:00 a.m. Eastern time. A conference call to discuss these results will occur at 9:00 a.m. the same day. Investors can participate by calling (877) 407-9037 or via a live webcast on the Company’s website. With approximately 235 branches, TopBuild delivers insulation and building material installation services through its TruTeam division while distributing products through Service Partners and Distribution International.
TopBuild Corp. (NYSE:BLD) has acquired Insulating Products, Inc., a Texas-based distributor of insulation, enhancing its specialty distribution sector. Insulating Products, founded in 2003, generated approximately $11 million in revenue for the trailing twelve months ending September 30, 2021. The acquisition strengthens TopBuild's geographic reach in the growing Southwest region and is expected to add value through an established customer base. CEO Robert Buck emphasized the strategic importance of this acquisition for expanding their business operations.
TopBuild Corp. (NYSE:BLD) announced participation in a fireside chat at the Stephens Annual Investment Conference on December 2 at 2:00 p.m. CT. Executives John Peterson, CFO, and Rob Kuhns, Vice President and Controller, will discuss company insights in a live webcast. The presentation will last 45 minutes, followed by a replay available one hour after the event. TopBuild specializes in insulation and building materials across North America, operating through its TruTeam and Service Partners networks with approximately 235 and 175 branches, respectively.
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.