TopBuild Corp (BLD) Steady Momentum

TopBuild Corp (NYSE:BLD) released its earnings report on October 31, 2023, revealing a 9.0% increase in net income for the third quarter of 2023. The company's sales rose by 1.9% and operating profit grew by 6.6% compared to the same period in 2022.

Financial Highlights
TopBuild Corp (NYSE:BLD) reported sales of $1,326,120, marking a 1.9% increase. The company's gross margin improved by 130 basis points to 31.7%, while its operating profit rose by 6.6% to reach $237,492. The net income for the quarter was $167,602, a 9.0% increase, and net income per diluted share was $5.27, up by 10.7%.

Performance of Business Segments
Both the Installation and Specialty Distribution segments reported mid-single digit volume growth related to the commercial and industrial end markets they serve. The Installation segment reported sales of $821,673, while the Specialty Distribution segment reported sales of $571,009.

Acquisitions and 2023 Outlook
TopBuild Corp (NYSE:BLD) has completed four acquisitions expected to contribute approximately $173 million in annual revenue. The company's 2023 outlook projects sales between $5,130 million and $5,210 million, and adjusted EBITDA between $1,025 million and $1,055 million.

TopBuild Corp (NYSE:BLD) is a leading installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada.

Price Momentum
BLD is trading in the middle of its 52-week range and near its 200-day simple moving average. Investors are still evaluating the share price, and the stock is still trying to generate some momentum. This is a neutral sign for the stock's future value.