TopBuild reports Q3 adjusted EPS $5.36, consensus $5.29

Reports Q3 revenue $1.4B, consensus $1.38B. CEO Robert Buck said, “Q3 results were in line with expectations. Sales totaled $1.4B in Q3, up 1.4% including acquisitions, as our Installation Services segment sales grew 0.2% and Specialty Distribution sales improved 1.4%. Our team’s efforts to drive productivity and operational excellence are reflected in the continued strength of our profitability. We have accomplished a lot recently, including acquiring Progressive Roofing in July and SPI in October. On a year-to-date basis, we’ve completed acquisitions that total approximately $1.2B in annual revenue. These acquisitions have strengthened our insulation businesses, established a new platform for growth in commercial roofing, and further expanded our non-cyclical revenue profile. We are raising our 2025 outlook to incorporate SPI and our four recent acquisitions. We remain confident in the long-term fundamentals for our business and are firmly committed to delivering shareholder value. Although weak consumer confidence and economic uncertainty are weighing on demand for residential new construction in the near term, the strength in commercial and industrial is very encouraging, and we are well-positioned to capture opportunities in these important and growing end markets”.