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TopBuild Q1 loss narrows YOY

TopBuild Corp. said its first-quarter normalized net income was $2.7 million, compared with a loss of $6.8 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 0.7% from negative 2.1% in the year-earlier period.

Total revenue increased 7.5% on an annual basis to $358.5 million from $333.6 million, and total operating expenses climbed 5.3% year over year to $359.6 million from $341.4 million.

Reported net income came to a loss of $3.8 million, compared with a loss of $8.1 million in the year-earlier period.