TopBuild: 3Q Earnings Snapshot
DAYTONA BEACH, Fla. (AP) _ TopBuild Corp. (BLD) on Tuesday reported third-quarter earnings of $42.7 million.
On a per-share basis, the Daytona Beach, Florida-based company said it had net income of $1.19. Earnings, adjusted for one-time gains and costs, were $1.23 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The insulation products company posted revenue of $647.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $639.1 million.
TopBuild expects full-year revenue in the range of $2.38 billion to $2.4 billion.
TopBuild shares have decreased 35 percent since the beginning of the year. The stock has decreased 23 percent in the last 12 months.