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NEW YORK - TopBuild Corp. (NYSE:BLD) reported first quarter earnings that exceeded analyst expectations, while revenue was in line with estimates on Tuesday.
The company’s stock edged up 0.65% following the release.
The insulation and building materials installer and distributor posted adjusted earnings per share of $4.79, beating the consensus estimate of $4.43 by $0.36. Revenue came in at $1.23 billion, matching analyst projections.
TopBuild’s sales declined 3.6% YoY, with Installation segment sales dropping 6.7% to $746 million. This was partially offset by 2.6% growth in the Specialty Distribution segment to $560 million.
"While total sales declined 3.6%, we are encouraged by Specialty Distribution growth of 2.6% as commercial and industrial projects have moved forward and our bidding activity and backlog are solid," said Robert Buck, President and CEO of TopBuild.
The company maintained its full-year 2025 outlook, forecasting revenue between $5.05 billion and $5.35 billion. This compares to the analyst consensus of $5.21 billion.
TopBuild’s adjusted EBITDA margin contracted to 19.0% in Q1 from 19.8% a year ago. The company attributed this to the slow start in new residential construction impacting its Installation segment.
"Our profitability continues to be healthy, as we delivered first quarter adjusted EBITDA margin of 19.0%," Buck added.
During the quarter, TopBuild repurchased 693,881 shares for $215.6 million. The company had $972.4 million remaining under its share repurchase authorization at quarter-end.
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