TopBuild Reports First Quarter Results, Raises 2024 Outlook and Announces $1B Share Repurchase Authorization
DAYTONA BEACH, Fla., May 07, 2024 (GLOBE NEWSWIRE) -- TopBuild Corp. (NYSE:BLD) a leading installer and specialty distributor of insulation and building material products to the construction industry in the United States and Canada today reported results for the first quarter ended March 31, 2024.
- We will continue to prioritize reinvesting our free cash flow to make acquisitions and drive increased shareholder value.
- TopBuild also announced today that its Board of Directors authorized the repurchase of up to $1.0 billion of the Company’s outstanding common stock.
- The new authorization is in addition to the $154.0 million remaining from the prior authorization, bringing the total availability for share repurchases to $1.15 billion.
- The Company’s raised its outlook for 2024 in light of strong profitability in the first quarter and to incorporate the acquisitions completed to date in 2024.