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TopBuild Reports Second Quarter 2025 Results;听Issues Guidance to Include Progressive Roofing Acquisition

Delivers second quarter sales of $1.3 billion and adjusted EBITDA margin of 20.1%

2025 outlook for $5.150 to $5.350 billion in sales and $970 to $1,070 million in adjusted EBITDA includes contribution from Progressive Roofing acquisition

DAYTONA BEACH, Fla., Aug. 05, 2025 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD), a leading installer of insulation and commercial roofing and a specialty distributor of insulation and related building material products to the construction industry in the United States and Canada, today reported results for the second quarter ended June 30, 2025.

Robert Buck, President and CEO of TopBuild, commented, 鈥淲e have accomplished a great deal in 2025 to date, most recently closing the acquisition of Progressive Roofing and establishing a new platform for growth in the large and highly complementary roofing services sector. Additionally, our teams鈥� efforts early in the year to align our cost structure with the current demand landscape and drive operational improvements are reflected in our healthy second quarter adjusted EBITDA margin of 20.1%. Second quarter sales of $1.3 billion declined 5.0%, driven by an 8.3% decrease in Installation, which was partly offset by 1.1% growth in Specialty Distribution.

Mr. Buck stated, 鈥淥ur 2025 outlook assumes that the contribution from the Progressive Roofing acquisition for the rest of the year will more than offset further weakness in the residential new construction and light commercial end markets. In the near term, although weak consumer confidence and economic uncertainty are pressuring new residential housing demand, we are encouraged by the ongoing positive trends in our heavy commercial and industrial end markets and excited about our long runway of new opportunities in commercial roofing.

鈥淲e remain optimistic that the long-term fundamentals for our business are strong and confident in our ability to drive increased shareholder returns. M&A continues to be our priority for deploying capital and we are returning capital to shareholders. In the second quarter, we repurchased nearly 455,000 shares, returning $136.0 million in capital to shareholders,鈥� Mr. Buck concluded.

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Capital Allocation

2025 Acquisitions
TopBuild continues to prioritize acquisitions for capital allocation and as of June 30, 2025, spent approximately $23 million on acquisitions. In addition, in July, the Company completed the acquisition of Progressive Roofing for $810 million, bringing the year-to-date capital deployed for acquisitions to approximately $833 million.

Share Repurchases
During the second quarter, TopBuild repurchased 454,802 shares totaling $136.0 million. On a year-to-date basis, the Company bought back 1,148,683 shares for $351.6 million. The remaining availability for share repurchases at the end of the second quarter totaled $836.4 million.

2025 Outlook¹
TopBuild issued its full year outlook which includes the contribution of the Progressive Roofing acquisition which closed in July. The guidance does not contemplate additional transactions that it expects to complete during the year.

¹ This outlook reflects management鈥檚 current view of present and future market conditions and is based on assumptions such as housing starts, general and administrative expenses, and interest rates. These targets do not include any effects related to potential acquisitions or divestitures that may occur after the date of this press release. A reconciliation of non-GAAP targets to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, the costs and expenses that may be incurred in the future and therefore cannot be reasonably predicted. The effect of these excluded items may be significant. Factors that could cause actual long-term results to differ materially from TopBuild鈥檚 current expectations are discussed below and detailed in the Company鈥檚 most recent Annual Report on Form 10-K and subsequent SEC reports.

Conference Call

A conference call to discuss the second quarter 2025 financial results is scheduled for today, Tuesday, August 5^th, at 9:00 a.m. Eastern Time. The call can be accessed by dialing (877) 407-9037. A simultaneous webcast of the call, along with management鈥檚 formal remarks and a presentation, will be available on the Company鈥檚 at shortly before the call begins.

About TopBuild

TopBuild Corp., headquartered in Daytona Beach, Florida, is a leading installer of insulation and commercial roofing and is also a specialty distributor of insulation and related building material products to the construction industry in the United States and Canada. We provide insulation and commercial roofing installation services nationwide through our Installation segment which has over 200 branches located across the United States. We distribute building and mechanical insulation, insulation accessories and other building product materials for the residential, commercial, and industrial end markets through our Specialty Distribution business. Our Specialty Distribution network encompasses more than 150 branches across the United States and Canada. To learn more about TopBuild please visit our website at .

Use of Non-GAAP Financial Measures

Adjusted EBITDA, incremental EBITDA margin, adjusted EBITDA margin, the 鈥渁djusted鈥� financial measures presented above, and figures presented on a 鈥渟ame branch basis鈥� are not calculated in accordance with U.S. generally accepted accounting principles (鈥淕AAP鈥�). The Company believes that these non-GAAP financial measures, which are used in managing the business, may provide users of this financial information with additional meaningful comparisons between current results and results in prior periods. We define same branch sales as sales from branches in operation for at least 12 full calendar months. Such non-GAAP financial measures are reconciled to their closest GAAP financial measures in tables contained in this press release. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company鈥檚 reported results under GAAP. Additional information may be found in the Company鈥檚 filings with the Securities and Exchange Commission which are available on TopBuild鈥檚 website under 鈥淪EC Filings鈥� at .

Safe Harbor Statement

This press release contains 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act.听These forward-looking statements may address, among other things, our expected financial and operational results, the related assumptions underlying our expected results, and our plan to repurchase our common stock under stock repurchase transactions. These forward-looking statements can be identified by words such as 鈥渨ill,鈥� 鈥渨ould,鈥� 鈥渁nticipate,鈥� 鈥渆xpect,鈥� 鈥渂elieve,鈥� 鈥渄esigned,鈥� 鈥減lan,鈥� 鈥渕ay,鈥� 鈥減roject,鈥� 鈥渆stimate鈥� or 鈥渋ntend,鈥� the negative of these terms, and similar references to future periods.听 These views involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements.听Our forward-looking statements contained herein speak only as of the date of this press release.听Factors or events that we cannot predict, including those described in the risk factors contained in our filings with the Securities and Exchange Commission, may cause our actual results to differ from those expressed in forward-looking statements.听Although TopBuild believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be achieved and it undertakes no obligation to update any forward-looking statements as a result of new information, future events, or otherwise, except as required by applicable law.

Investor Relations and Media Contact

PI Aquino听听听听听听听听听听
[email protected]
386-763-8801

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