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Management's Prepared Remarks.pdf

Managements-prepared-remarks-2Q-2019-Conference-Call-1.pdf
Preview of Management's Prepared Remarks
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📊 Size: 187 KB
👤 Author: Tabitha Zane
⬇️ Downloads: 113

Summary

TopBuild's CEO Jerry Volas reported a solid second quarter, with total sales up 8.9% despite lagged housing starts being down 8.0%. The company's commercial business performed well, and residential new construction activity at TruTeam was solid. Adjusted operating and EBITDA margins expanded by 210 and 260 basis points, respectively, driving adjusted net income to $1.43 per share, a 40% increase. The company completed the acquisition of Viking Insulation and expects to close on more acquisition opportunities this year. CFO John Peterson reported consolidated revenue of $660.1 million, gross margin of 26.5%, and adjusted EBITDA of $94.0 million, a 33.2% increase. Adjusted income was $49.5 million, or $1.43 per diluted share.

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Description

TopBuild's CEO Jerry Volas reported a solid second quarter, with total sales up 8.9% despite lagged housing starts being down 8.0%.

Technical Information

  • File Format: PDF
  • File Size: 187 KB
  • Pages: 6
  • Language: EN
  • Author: Tabitha Zane
  • Total Downloads: 113
  • Last Updated: 1 week ago

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