Future

Strong

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<p class="has-drop-cap">TopBuild Corp. (NYSE: BLD), a leading installer and distributor of insulation and building material products, has demonstrated resilient performance in the <a aria-label="fourth quarter (opens in a new tab)" href="https://www.topbuild.com/news-events/press-releases/detail/165/topbuild-reports-fourth-quarter-and-year-end-2023-financial" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">fourth quarter</a> of 2023, capping off a year of profitable growth and continuous improvement. The company reported a sales increase of 1.7% to $1.3 billion in the fourth quarter of 2023, with gross margin expanding 70 basis points to 30.4%. Adjusted EBITDA margin also grew, expanding 80 basis points to 19.6%.</p> 
<p>This performance reflects the company’s ability to continuously improve and grow profitably, particularly in its services to the commercial and industrial end markets, which grew 4.9% in the fourth quarter and 6.2% for the full year. The company’s focus on operational efficiencies, sales, and labor productivity has contributed to solid revenue growth and year-over-year margin expansion.</p> 
<h3 id="topbuild-tops-expectations-in-q4">TopBuild Tops Expectations in Q4</h3> 
<p>When comparing TopBuild’s performance against expectations, the company has shown a commendable effort in exceeding projected figures. Analysts had anticipated earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">EPS</a>) of $4.64 and revenue of $1.29 billion for the quarter. TopBuild’s reported EPS of $4.69 and revenue of $1.3 billion surpassed these forecasts, underlining the company’s robust operational execution and market positioning. The growth in net income per diluted share by 1.8% to $4.60, as well as the adjusted figures, showcases the company’s strength in navigating market challenges and capitalizing on growth opportunities.</p> 
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<h3 id="guidance-for-the-future">Guidance for the Future</h3> 
<p>Looking ahead, TopBuild has provided a positive outlook for 2024, expecting another strong year driven by its unique operating model and multiple avenues for growth. The company anticipates sales to be between $5.36 billion and $5.56 billion, with adjusted EBITDA expected to range from $1.04 billion to $1.13 billion. This guidance is underpinned by assumptions of mid-single-digit growth in both residential and commercial/industrial revenues, capital expenditure between 1.5% to 2.0% of sales, and an income tax rate of 25% to 27%. Such forecasts reflect TopBuild’s confidence in its strategic initiatives and the potential for further market expansion.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/topbuild-bld-reports-strong-q4-performance-sales-up-1-7/">TopBuild (BLD) Reports Strong Q4 Performance, Sales Up 1.7%</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

TopBuild (BLD) Reports Strong Q4 Performance, Sales Up 1.7%

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