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TopBuild Q2 profit climbs 55.3% YOY

TopBuild Corp. said its normalized net income for the second quarter was 67 cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS rose 58.6% year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.7 million, an increase of 55.3% from $15.9 million in the year-earlier period.

The normalized profit margin increased to 5.2% from 3.7% in the year-earlier period.

Total revenue grew 9.9% on an annual basis to $474.5 million from $431.6 million, and total operating expenses grew 7.0% from the prior-year period to $433.1 million from $404.8 million.

Reported net income grew 50.5% on an annual basis to $23.4 million, or 63 cents per share, from $15.6 million, or 41 cents per share.