TopBuild (BLD) Misses Q2 EPS by 2c

TopBuild (NYSE: BLD) reported Q2 EPS of $0.43, $0.02 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $432 million versus the consensus estimate of $446.65 million.

Jerry Volas, Chief Executive Officer of TopBuild stated, "We had a solid second quarter with sales benefitting from the continued growth in residential and commercial construction. Combined with the unusually robust first quarter, we are pleased with the first six months of 2016 and look forward to a strong second half of the year. Most encouraging is the progress we continue to make driving operational improvements into our business. Our adjusted operating margin in the second quarter was 6.4%, a 140 basis point improvement both year-over-year and sequentially.

"Our team remains focused on optimizing operating margins while balancing that with top line performance aligned with the housing recovery. While starts may grow at a rate slower than previously expected, we believe the current recovery will be much longer than previous cycles as new housing supply remains tight relative to household formations."

For earnings history and earnings-related data on TopBuild (BLD) click here.

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