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TopBuild profit beats consensus by 25.3% in Q1


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TopBuild profit beats consensus by 25.3% in Q1

TopBuild Corp. said its normalized net income for the first quarter was 45 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS climbed 51.0% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.8 million, a gain of 47.9% from $11.4 million in the year-earlier period.

The normalized profit margin increased to 3.8% from 2.7% in the year-earlier period.

Total revenue grew 6.6% year over year to $441.4 million from $414.0 million, and total operating expenses grew on an annual basis to $413.2 million from $394.3 million.

Reported net income came to a loss of $1.9 million, or a loss of 5 cents per share, compared to income of $11.0 million, or 29 cents per share, in the year-earlier period.