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
FIRST QUARTER FINANCIAL HIGHLIGHTS*
13.7% net sales increase
26.7% adjusted gross margin, up 40 bps
13.1% adjusted operating margin, up 230 bps
15.6% adjusted EBITDA margin, up 210 bps
47.4% increase in adjusted EPS to $2.02 per diluted share
BUSINESS MODEL EXECUTING WELL
* See slide 16-20 for GAAP to non-GAAP reconciliations
3
BUSINESS UPDATE
RESIDENTIAL
Builders reporting strong first quarter order growth
March seasonally adjusted housing starts at 1.74M, well above Street expectations
Building cycle elongated by both material and labor constraints across entire industry
Demand far outpacing supply
APRIL 15, 2021
U.S. housing market is 3.8 million single-family homes short of what is
needed to meet the country's demand.
Shortage is especially acute for entry-level homes.
"This is what you get when you underbuild for 10 years."
Sam Khater
Chief Economist
at Freddie Mac
TOPBUILD CAPITALIZING ON GROWTH
4
BUSINESS UPDATE
COMMERCIAL
Same branch revenue up 8.1% year-over-year
Delayed projects getting back on track
Bidding activity strong for both light and heavy
Types of heavy commercial projects being bid and won:
o Large distribution centers o Corporate campuses
o Schools, universities
Airports
o Public safety facilities
EXPECT COMMERCIAL TO CONTINUE TO STRENGTHEN
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TopBuild Corp. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 12:50:06 UTC.
TopBuild Corp. is an installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada. The Company operates through two segments: Installation and Specialty Distribution. The Installation segment installs insulation and other building products. It installs other building products, including glass and windows, rain gutters, garage doors, closet shelving, and fireplaces. Its Installation customer base includes national and regional single-family homebuilders, single-family custom builders, and individual homeowners. The Specialty Distribution segment distributes building and mechanical insulation, insulation accessories, rain gutters and other building product materials for the residential and commercial/industrial end markets. Its customer base consists of thousands of insulation contractors of various sizes serving a variety of residential and commercial/industrial industries and gutter contractors.
TOPBUILD CORP. 
