(Adds Share buyback, stock movement)
TopBuild Corp. (BLD) said its Board has authorized a share repurchase of up to $1 billion of shares. The new authorization is in addition to the $188.1 million remaining from the prior authorization.
BLD was, however, down by 3.24 percent at $292.25 in the pre-market trade on the New York Stock Exchange.
Q4 Results:
TopBuild announced a profit for its fourth quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $150.540 million, or $5.11 per share. This compares with $146.382 million, or $4.60 per share, last year.
Excluding items, TopBuild Corp. reported adjusted earnings of $151.262 million or $5.13 per share for the period.
Analysts on average had expected the company to earn $5.05 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 2.0% to $1.312 billion from $1.286 billion last year.
TopBuild Corp. earnings at a glance (GAAP) :
-Earnings: $150.540 Mln. vs. $146.382 Mln. last year.-EPS: $5.11 vs. $4.60 last year.-Revenue: $1.312 Bln vs. $1.286 Bln last year.
Commenting on the fourth-quarter results, TopBuild, said: "Our fourth quarter results were as expected given the ongoing choppiness across the residential construction landscape. Sales improved 2.0%, driven by 6.6% growth in Specialty Distribution, while Installation was relatively flat in the quarter. We also improved adjusted EBITDA margin by 10 basis points to 19.7%. Broad macro fundamentals continue to support long-term demand growth across our end markets."
Looking ahead, for the full-year 2025, TopBuild expects adjusted EBITDA of $925 million to $1.075 billion and sales of $5.05 billion to $5.35 billion
For the Full-year 2024, the company had recorded adjusted EBITDA of $1.07 billion, on sales of $5.3 billion.
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