TOPBUILD CORP Reports Earnings Results for FY2023 Q2 Ending June 30, 2023
October 21, 2023
🌥️Earnings Overview
TOPBUILD CORP ($NYSE:BLD)’s earnings report for the second quarter of FY2023, ending on June 30, 2023, revealed total revenue of USD 1317.3 million – a 3.4% growth compared to the same period last year. Net income was also up 14.4% year-over-year to USD 164.4 million.
Price History
On Thursday, TOPBUILD CORP reported their earnings results for the fiscal year 2023 second quarter, ending June 30, 2023. At the time of the announcement, their stock opened at $273.1 and closed at $285.0, marking a 4.1% increase from its previous closing price of $273.7. This was largely attributed to cost cutting measures implemented by the company, leading to improved margins and higher profitability. TOBUILD CORP also reported strong growth in its construction and industrial product sales, which accounted for nearly half of its total revenue.
They also posted solid increases in their product distribution and services segment, which saw revenues increase by 10% year-over-year. Overall, the company’s strong financial performance in the second quarter has been seen as a positive indicator for future performance. With strong revenue growth and improved margins, TOPBUILD CORP is well positioned to take advantage of market conditions going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Topbuild Corp. More…
| Total Revenues | Net Income | Net Margin |
| 5.15k | 597.85 | 11.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Topbuild Corp. More…
| Operations | Investing | Financing |
| 663.9 | -115.58 | -144.47 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Topbuild Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.86k | 2.62k | 70.47 |
Key Ratios Snapshot
Some of the financial key ratios for Topbuild Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 24.0% | 40.2% | 16.9% |
| FCF Margin | ROE | ROA |
| 11.5% | 25.3% | 11.2% |
Analysis
As part of our analysis of TOPBUILD CORP‘s fundamentals, we examined the company’s Star Chart. From this, we can see that TOPBUILD CORP has a high health score of 9/10 when it comes to its cashflows and debt, meaning that it is capable to sustain future operations even in times of crisis. We also classified TOPBUILD CORP as a ‘gorilla’, a type of company that we conclude has achieved stable and high revenue or earning growth due to its strong competitive advantage. From this, it stands to reason that investors looking for companies with strong growth potential in a stable market may be interested in investing in TOPBUILD CORP. The company’s strong points are its growth, profitability and medium asset, while its weak point is its dividend. In summary, TOPBUILD CORP looks to be an attractive option for investors looking for a high-growth company with a strong competitive edge. More…
Peers
There is intense competition between TopBuild Corp and its competitors: BlueLinx Holdings Inc, Beacon Roofing Supply Inc, Grafton Group PLC. All of these companies are trying to gain market share in the highly competitive building materials industry. TopBuild Corp has been able to differentiate itself from its competitors by offering a unique combination of products and services that are unmatched in the industry.
– BlueLinx Holdings Inc ($NYSE:BXC)
BlueLinx Holdings Inc is a holding company that engages in the wholesale distribution of building and industrial products in the United States. It operates through the following segments: Engineered Products and Building Products. The Engineered Products segment offers metal components and industrial products. The Building Products segment focuses on lumber and lumber sheet goods, millwork, roofing, siding, decking, fencing, insulation, gypsum, and other specialty building products. The company was founded on January 25, 2002 and is headquartered in Atlanta, GA.
– Beacon Roofing Supply Inc ($NASDAQ:BECN)
Beacon Roofing Supply Inc is a publicly traded company that engages in the distribution of roofing materials and complementary building products in the United States and Canada. It has a market cap of 3.66B as of 2022 and a return on equity of 11.71%. The company was founded in 1928 and is headquartered in Herndon, Virginia.
Summary
TOPBUILD CORP has delivered positive results for the fiscal year 2023 Q2 with total revenue increasing by 3.4% compared to the previous year. Net income was also up by 14.4% year-over-year, which saw the stock price increase as a result. This is a good sign for potential investors, showing that the company’s financials are improving and may be a good investment opportunity. However, it is important to do some further research before investing in any company, as past performance does not necessarily guarantee future success.
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