Quarterly ResultMay 5, 2026, 07:08 AM
TopBuild Q1 Net Sales +17.2% to $1.45B; Net Income Down 15%
AI Summary
TopBuild Corp. reported mixed financial results for the first quarter of 2026, with net sales increasing significantly while net income and earnings per share declined. The company's net sales rose 17.2% to $1.45 billion, driven by strong performance in its Specialty Distribution segment. However, net income decreased by 15.0% to $104.8 million, and diluted EPS fell 11.8% to $3.73, primarily due to a substantial increase in interest expense and higher selling, general, and administrative expenses. The company also saw goodwill additions from recent acquisitions and maintained compliance with its debt covenants.
Key Highlights
- Net sales increased 17.2% to $1.45 billion for Q1 2026, up from $1.23 billion in Q1 2025.
- Net income decreased 15.0% to $104.8 million in Q1 2026, compared to $123.4 million in Q1 2025.
- Diluted earnings per share (EPS) was $3.73 for Q1 2026, down 11.8% from $4.23 in Q1 2025.
- Specialty Distribution segment net sales from external customers grew 37.0% to $668.5 million.
- Installation Services segment net sales from external customers increased 4.3% to $777.3 million.
- Interest expense surged 120.6% to $36.6 million in Q1 2026 from $16.6 million in Q1 2025.
- Net cash provided by operating activities rose to $160.7 million in Q1 2026 from $152.6 million in Q1 2025.
- No common stock repurchases occurred in Q1 2026, compared to $215.6 million in Q1 2025.
Price Impact
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