TopBuild (BLD) Tops Q1 EPS by 7c
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EPS Growth %: -10.4%
Financial Fact:
Loss per share from discontinued operations: 0
Today's EPS Names:
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TopBuild (NYSE: BLD) reported Q1 EPS of $0.73, $0.07 better than the analyst estimate of $0.66. Revenue for the quarter came in at $491.4 million versus the consensus estimate of $486.43 million.
GUIDANCE:
TopBuild sees FY2018 revenue of $2.338-2.398 billion, may not compare to the consensus of $2.14 billion.
Annual Guidance (Assumes housing starts between 1.250k and 1.280k, includes 8 months of expected revenue from USI with $2M to $4M of cost savings synergies)
| $M | TopBuild | USI | Consolidated | |||||||||
| 2018 | Low | High | Low | High | Low | High | ||||||
| Revenue | $ | 2,065 | $ | 2,115 | $ | 273 | $ | 283 | $ | 2,338 | $ | 2,398 |
| Adj. EBITDA | $ | 226 | $ | 242 | $ | 37 | $ | 42 | $ | 263 | $ | 284 |
Assumptions$75 million of incremental revenue for every 50,000 increase in new housing starts
Three-Year Targets
| 10 | % | Commercial annual growth (organic) |
| 8.5% to 9.5% | Working capital as a % of total sales | |
| 2% to 2.5% | CapEx as a % of total sales | |
| 11% to 16% | Incremental EBITDA margin from acquisitions in year one | |
| 22% to 27% | Incremental EBITDA margin (organic) | |
| 27 | % | Normalized tax rate |
For earnings history and earnings-related data on TopBuild (BLD) click here.
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