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TopBuild Corp. (BLD) is the leading installer and distributor of insulation products for the United States construction industry, distinguished by its comprehensive service offerings and national presence. Based on revenue, TopBuild holds a prominent position in the market. The company operates primarily through two business segments: Installation and Specialty Distribution.
Through its TruTeamSM business, TopBuild provides insulation installation services nationwide, supported by over 190 installation branches across 43 states. This segment focuses on serving contractors in residential, commercial, and industrial markets. The Specialty Distribution segment, operating under the Service Partners® brand, distributes insulation and related building products from 72 distribution centers located in 35 states. This distribution network caters to the needs of both small and large-scale contractors.
TopBuild is also recognized as a leader in building science through its subsidiary, TopBuild Home Services, Inc., and its Environments for Living® program, which offer advanced solutions for energy efficiency and sustainability. This commitment to innovation helps TopBuild maintain its competitive edge.
Founded in 2015 as a spin-off from Masco Corporation, TopBuild has grown independently, emphasizing operational efficiency and profitable growth. Recent achievements include mid-single digit volume growth in both the Installation and Specialty Distribution segments, particularly in the non-residential sector. The company’s diverse business model enables it to pursue various growth opportunities across its primary markets.
Financially, TopBuild continues to demonstrate solid performance, attributed to its focus on productivity and operational efficiencies. The company’s strategic approach includes acquisitions to generate shareholder value, most recently targeting the acquisition of SPI. With a robust track record and a clear vision for future growth, TopBuild remains a key player in the construction industry.
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.
TopBuild Corp. (NYSE:BLD) announced a private offering of $500 million senior notes due 2032, aimed at funding the purchase of Distribution International, Inc. (DI) and related expenses. The offering is not conditioned upon the completion of the acquisition, but the notes will face special mandatory redemption if the acquisition isn't finalized by August 7, 2022. This offering is subject to market conditions and will not be registered under the Securities Act. The company warns that forward-looking statements may differ materially due to various risks, including impacts from COVID-19.
TopBuild Corp. (NYSE:BLD) announced the retirement of CFO John Peterson, effective March 31, 2022, after over six years with the company. Robert Kuhns, currently Vice President and Corporate Controller, will succeed him. CEO Robert Buck expressed gratitude for Peterson's contributions to the company's growth and highlighted Kuhns' readiness to take on the CFO role, ensuring a smooth transition. Kuhns brings a strong finance background from previous experience at Mohawk Industries and holds CPA credentials. Additional details on Peterson's retirement arrangements will be filed with the SEC.
TopBuild Corp. (NYSE:BLD) has appointed Ernesto Bautista, III, former CFO of BJ Energy Solutions, to its Board of Directors, expanding the board to eight members. Bautista brings over 15 years of experience as a CFO for publicly traded companies, enhancing the board's financial expertise. Chairman Alec Covington expressed excitement about Bautista's contribution, while CEO Robert Buck anticipates that his corporate strategy and financial management experience will benefit the company's growth. Bautista is a CPA and holds degrees from Rice University.
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