Buyback: TopBuild repurchased 134,872 shares totaling $47.2 million.
The board authorized the repurchase of up to $1.0 billion of the company’s shares, bringing the total repurchase availability to $1.2 billion.
This includes the $188.1 million remaining from the prior authorization as of December 31, 2024.
Outlook: TopBuild projects FY25 sales of $5.05 billion-$5.35 billion, vs. previous estimate of $5.465 billion, with adjusted EBITDA expected between $925 million and $1.075 billion.
TopBuild CEO Robert Buck listed tailwinds for the business:
- Low housing inventory
- Population growth
- Demographic shifts
- Ongoing initiatives to reduce energy consumption and decrease utility costs, and manage emissions.
Investors can gain exposure to the stock via iShares U.S. Home Construction ETF (BATS:ITB).
Price Action: BLD shares are down 2.96% at $293.11 premarket at the last check Tuesday.
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