Stock Track | TopBuild Rallies on Solid Q3 Results and Raised Outlook

Stock Track11-05

TopBuild Corp. (NYSE: BLD), a leading installer and distributor of insulation and building material products, saw its shares soar 5.21% on November 5, 2024, after reporting strong third-quarter results and raising its full-year guidance.

For the third quarter ended September 30, 2024, TopBuild reported revenue of $1.37 billion, up 3.6% year-over-year. This growth was driven by a 4.2% increase in the Installation segment and a 5.1% rise in the Specialty Distribution segment. Adjusted EBITDA for the quarter came in at $285.1 million, a 0.5% increase from the prior-year period, with margins improving to 20.8%.

Net income for the quarter stood at $169.0 million, or $5.65 per diluted share, compared to $167.6 million, or $5.27 per diluted share, in the same quarter last year.

Based on the solid performance, TopBuild narrowed its full-year 2024 revenue outlook to a range of $5.3 billion to $5.35 billion, and adjusted EBITDA guidance to $1.055 billion to $1.085 billion. The company also continued its acquisition strategy, completing seven acquisitions in 2024 that are expected to generate approximately $118 million in annual revenue.

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(NYSE: BLD), a leading installer and distributor of insulation and building material products, saw its shares soar 5.21% on November 5, 2024, after reporting strong third-quarter ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BLD","symbol_name":"TopBuild Corp.","start_time":0,"source_url":"","article_id":"1166369707","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1166369707","pubTimestamp":1730817924,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"TopBuild Corp. , a leading installer and distributor of insulation and building material products, saw its shares soar 5.21% on November 5, 2024, after reporting strong third-quarter results and raising its full-year guidance.For the third quarter ended September 30, 2024, TopBuild reported revenue of $1.37 billion, up 3.6% year-over-year. 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