BLD - TopBuild Corp. (BLD) Q1 2024 Earnings Call Transcript
2024-05-07 12:58:06 ET
TopBuild Corp. (BLD)
Q1 2024 Earnings Conference Call
May 07, 2024, 9:00 AM ET
Company Participants
PI Aquino - Vice President, Investor Relations
Robert Buck - President and Chief Executive Officer
Robert Kuhns - Chief Financial Officer
Conference Call Participants
Stephen Kim - Evercore ISI
Susan Maklari - Goldman Sachs
Ken Zener - Seaport Research Partners
Michael Rehaut - JP Morgan
Shaun Calnan - Bank of America
Philip Ng - Jefferies
Sid Ramesh - Stephens
Jeffrey Stevenson - Loop Capital Markets
Presentation
Operator
Greetings. Welcome to the TopBuild's First Quarter 2024 Earnings Release. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]
I will now turn the conference over to your host, PI Aquino. You may begin.
PI Aquino
Good morning and thanks for joining us. On our call today are Robert Buck, President and Chief Executive Officer; and Rob Kuhns, Chief Financial Officer.
We have posted our earnings release, senior management’s formal remarks and a presentation that summarizes our comments on our website at topbuild.com. Many of our remarks today will include forward-looking statements which are subject to known and unknown risks and uncertainties, including those set forth in this morning’s press release as well as in the company’s filings with the SEC. The company assumes no obligation to update any forward-looking statements because of new information, future events, or otherwise.
Please note that some of the financial measures to be discussed during this call will be on a non-GAAP basis. The non-GAAP measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. We have provided a reconciliation of these financial measures to the most comparable GAAP measures in a table included in today’s press release and in our presentation, both of which are available on our website.
I will now turn the call over to President and CEO, Robert Buck.
Robert Buck
Good morning and thank you for joining our call today. Our first quarter performance got the year off to a solid start for TopBuild and was in line with our expectations, as our results continue to demonstrate the strength of our business model and our teams’ ongoing drive to improve. As you saw in our release this morning, we are also raising our outlook and guidance for the remainder of 2024, which Rob will cover in his remarks.
Let me start with a couple of comments around our recent announcements. Most of you saw our press release of two weeks ago terminating the SPI transaction. Since last July, we worked through the HSR review process to help the DOJ better understand the entire business and transaction details. The DOJ focused on a small subsegment of metal building insulation, laminated fiberglass and defined the business and distribution of the product very narrowly. ...
TopBuild Corp. (BLD) Q1 2024 Earnings Call Transcript