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TOPBUILD CORP.

(BLD)
  Report
Delayed Nyse  -  04:00 2022-09-23 pm EDT
160.07 USD   -1.53%
09/20NORTH AMERICAN MORNING BRIEFING : Treasury Yields -2-
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09/19Homebuilders' Shares Rise After KeyBanc Upgrades
MT
09/19KeyBanc Upgrades TopBuild to Overweight From Sector Weight, Assigns $205 Price Target
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TopBuild : Presentation Q2 2022

08/02/2022 | 09:02am EDT

SECOND QUARTER

Robert Buck, President & CEO

Rob Kuhns, CFO

August 2, 2022

SAFE HARBOR

Statements contained herein reflect our views about future periods, including our future plans and performance, constitute "forward- looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "will," "would," "anticipate," "expect," "believe," "designed," "plan," or "intend," the negative of these terms, and similar references to future periods. These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results

may differ materially from the results discussed in our forward-looking statements. We caution you against unduly relying on any of these forward-looking statements. Our future performance may be affected by a number of risks including but not limited to the material risks under the caption entitled "Risk Factors" in our most recent Annual Report, as filed with the SEC, as well as under the caption entitled "Risk Factors" in subsequent reports that we file with the SEC. Our forward-looking statements in this presentation speak only as of the date of this presentation. Factors or events that could cause our actual results to differ may emerge from time to time and it is not possible for us to predict all of them. Unless required by law, we undertake no obligation to update any forward- looking statements as a result of new information, future events, or otherwise. The Company believes that the non-GAAP performance measures and ratios that are contained herein, which management uses to manage our business, provide additional meaningful comparisons between current results and results in our prior periods. Non-GAAP performance measures and ratios should be viewed in addition, and not as an alternative, to the Company's reported results under United States GAAP. Additional information about the Company is contained in the Company's filings with the SEC and is available on TopBuild's website at www.topbuild.com.

2

TopBuild Snapshot (NYSE: BLD)

Key Stats

Sales Breakdown

Headquarters

Daytona Beach, FL

Market Cap1

$6.9B

Employees

~13,000

Total Branches

410+

SEGMENT2

PRODUCT MIX2

END-MARKET2

13%

9%

6%

42%

27%

58%

64%

81%

Installation

Insulation & Accessories

Residential

Specialty Distribution

Gutters

Commercial

Other

Industrial

LEADING INSTALLER AND SPECIALTY DISTRIBUTOR OF INSULATION

AND RELATED BUILDING MATERIAL PRODUCTS

1 As of 7/29/2022. 2 As of TTM 2Q 2022 to reflect pro forma impact of the DI acquisition

BUSINESS UPDATE

  • Strong second quarter results
    • Adjusted EBITDA margins expanded at both business segments
    • Volume at Installation segment outpaces housing completions
  • Distribution International update
    • Financial performance ahead of expectations
    • Integration ahead of schedule
    • On track to meet or exceed $35M to $40M of synergies
  • Building cycle remains elongated for residential and commercial projects
    • Gap continues to widen between housing starts and completions
    • Labor constraints delaying commercial projects
  • Growing demand for mechanical insulation…new projects and MRO work
  • Teams effectively managing input costs and selling prices; improving operations

SUCCESSFULLY NAVIGATING CURRENT ENVIRONMENT

4

SECOND QUARTER FINANCIAL HIGHLIGHTS*

Adjusted

  • 52.7% sales increase
  • 30.1% gross margin, up 90 bps
  • 16.4% operating margin, up 80 bps
  • 19.0% EBITDA margin, up 100 bps

Same Branch, Adjusted

  • 20.7% sales increase
  • 31.2% gross margin, up 200 bps
  • 17.8% operating margin, up 220 bps
  • 19.9% EBITDA margin, up 190 bps
  • 29.4% incremental EBITDA

DIFFERENTIATED BUSINESS MODEL EXECUTING WELL

* See Appendix for Reconciliation

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

TopBuild Corp. published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 13:01:08 UTC.


© Publicnow 2022
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Analyst Recommendations on TOPBUILD CORP.
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Financials (USD)
Sales 2022 4 869 M - -
Net income 2022 512 M - -
Net Debt 2022 1 177 M - -
P/E ratio 2022 10,2x
Yield 2022 -
Capitalization 5 155 M 5 155 M -
EV / Sales 2022 1,30x
EV / Sales 2023 1,22x
Nbr of Employees 13 006
Free-Float 81,9%
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Number of Analysts 10
Last Close Price 160,07 $
Average target price 230,40 $
Spread / Average Target 43,9%
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Managers and Directors
Robert M. Buck President, CEO & Director
Robert M. Kuhns Chief Financial Officer & Vice President
Alec C. Covington Chairman
Sridhar Pullareddy Chief Information Officer
W. Joe Jacumin Chief Compliance Officer
Sector and Competitors