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.
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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
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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 |
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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.