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TopBuild profit misses consensus by 47.5% in Q2

TopBuild Corp. said its normalized net income for the second quarter was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS rose 17.0% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.2 million, a gain of 17.0% from $4.5 million in the prior-year period.

The normalized profit margin increased to 1.3% from 1.2% in the year-earlier period.

Total revenue rose 5.5% on an annual basis to $403.8 million from $382.8 million, and total operating expenses grew 5.3% on an annual basis to $392.3 million from $372.6 million.

Reported net income rose 12.5% year over year to $6.8 million, or 18 cents per share, from $6.0 million, or 16 cents per share.