Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36870 TopBuild Corp. (Exact Name of Registrant as Specified in its Charter) Delaware (State or Other Jurisdiction of ...

Fourth Quarter And Year End 2023 Robert Buck, President & CEO Rob Kuhns, CFO ...

财务数据和关键指标变化 - 2023年全年收入为52亿美元,同比增长3.7% [29] - 2023年全年毛利率为30.9%,同比提升120个基点 [29] - 2023年全年调整EBITDA率为20.2%,同比提升140个基点,首次超过10亿美元 [29] - 2023年第四季度收入为13亿美元,同比增长1.7% [30] - 2023年第四季度毛利率为30.4%,同比提升70个基点 [31] - 2023年第四季度调整EBITDA率为19.6%,同比提升80个基点 [31] 各条业务线数据和关键指标变化 - 2023年全年安装业务收入增长,多户型和商业项目增长超过50%和11%,抵消了单户型下降 [12] - 2023年第四季度安装业务收入增长3.8%,主要得益于收购、多户型和商业项目增长以及价格略有上涨 [30] - 2023年第四季度专业分销业务收入增长0.2%,商业和工业销售增长抵消了住宅销量下降 [30] 各个市场数据和关键指标变化 - 公司预计2024年住宅销售中单户型和多户型将实现中单位数增长 [37] - 公司预计2024年商业和工业销售将实现中单位数增长,主要来自良好的投标活动和强劲的订单 [37] 公司战略和发展方向及行业竞争 - 公司持续推进提高劳动生产率的举措,将为利润带来显著提升 [15] - 公司成立专项团队专注于提升运营效率,已经识别出多项2024年及以后可以提升业绩的机会 [16][17] - 公司将继续通过收购来拓展住宅安装和专业分销业务,看好行业高度分散的特点 [25] - 公司看好长期住宅新建市场的基本面,认为存在房源短缺和强劲刚需 [21] - 公司预计2024年材料供应仍将偏紧,有望实现良好的价格提升 [23][24] 管理层对经营环境和未来前景的评论 - 2023年公司业绩超出预期,管理层对2024年前景保持乐观 [10][20] - 管理层认为单户型住宅开工有望在今年下半年有所改善,多户型项目订单充足 [21] - 管理层对商业和工业市场前景也持乐观态度,看好未来的投标活动和订单情况 [22] 问答环节重要的提问和回答 问题1 **Philip Ng提问** 询问2024年EBITDA增长预期为何有所放缓,是否存在一些不确定因素 [47][48][49] **Robert Kuhns回答** 解释2023年EBITDA存在一次性超额贡献约2500万美元,剔除这一因素后2024年EBITDA增长预期仍在合理区间 [48][49] 问题2 **Ken Zener提问** 询问公司对2024年住宅销量和价格的预期 [154][155][156] **Robert Kuhns回答** 解释公司预计2024年住宅销量增长将主要来自价格,单户型开工维持在当前水平,多户型项目将保持平稳 [155][156] 问题3 **Noah Merkousko提问** 询问公司是否预计未来多户型市场放缓后,可能释放出安装产能以支持单户型市场 [86][87][88] **Robert Buck回答** 表示公司认为这种情况下劳动力将向单户型市场转移,且单户型项目单位收益更高,这将是一个积极因素 [88]

For the quarter ended December 2023, TopBuild (BLD) reported revenue of $1.29 billion, up 1.7% over the same period last year. EPS came in at $4.69, compared to $4.40 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.28 billion, representing a surprise of +0.17%. The company delivered an EPS surprise of +1.96%, with the consensus EPS estimate being $4.60. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how the ...

TopBuild (BLD) came out with quarterly earnings of $4.69 per share, beating the Zacks Consensus Estimate of $4.60 per share. This compares to earnings of $4.40 per share a year ago. These figures are adjusted for non- recurring items. This quarterly report represents an earnings surprise of 1.96%. A quarter ago, it was expected that this insulation products company would post earnings of $4.59 per share when it actually produced earnings of $5.43, delivering a surprise of 18.30%. Over the last four quarters ...

Exhibit 99.1 NYSE:BLD A leading installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada TopBuild Reports Fourth Quarter and Year-End 2023 Financial Results Fourth Quarter Highlights · Sales increase 1.7% to $1.3 billion · Gross margin expands 70 basis points to 30.4% · Adjusted EBITDA margin expands 80 basis points to 19.6% Full Year Highlights · Sales increase 3.7% to $5.2 billion · Gross margin expands 120 basis ...

Shares of TopBuild (BLD) have been strong performers lately, with the stock up 12.3% over the past month. The stock hit a new 52-week high of $414.11 in the previous session. TopBuild has gained 9.9% since the start of the year compared to the 6.1% move for the Zacks Construction sector and the 9.7% return for the Zacks Building Products - Miscellaneous industry. What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimat ...

财务表现 - TopBuild（BLD）即将发布的报告预计每股收益为4.60美元，较去年同期增长4.6%[1] - 分析师预测营收将达到12.8亿美元，同比增长1.5%[1] - 过去30天，季度每股收益的共识预期上调了0.2%[2] - 在公司披露收益前，重要考虑收益预期的变化[3] - 多项实证研究一致表明，收益预期修订趋势与股票短期价格表现之间存在强关联[4] - 投资者通常将共识收益和营收预期作为季度业绩的指标，探索分析师对特定关键指标的预测可以提供有价值的见解[5] 销售预测 - 分析师预测“净销售-专业分销”将达到5.471亿美元，同比下降2.8%[7] - 根据分析师的综合评估，“净销售-安装”应达到7.9186亿美元，同比增长4%[8] 利润预测 - 分析师预测“营业利润，按报告-安装”将达到1.5001亿美元，与去年同期的1.4196亿美元形成对比[9] - 根据分析师的综合判断，“营业利润，按报告-专业分销”应为7.893万美元，与去年同期的8.069万美元相比[10] 股票表现 - TopBuild股票过去一个月的回报率为+9.7%，预计将在未来表现优于整体市场[11]

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TopBuild业绩预期 - TopBuild (BLD) 预计在2023年12月报告的季度业绩中，盈利将同比增长，而收入也将增加[1] - 分析师们对TopBuild的季度盈利预期为每股$4.60，同比增长4.6%，预计收入为12.8亿美元，同比增长1.5%[4] - 如果关键数字超过预期，股价可能会上涨，反之则可能下跌[2]