TopBuild Expects 2024 Sales Of $5.36B-$5.56B Vs. $5.43B Consensus; Sees Adjusted EBITDA Of $1.04B-$1.13B
Author: Benzinga Newsdesk | February 28, 2024 07:50am
2024 Outlook
"We expect 2024 will be another strong year for TopBuild. We see many opportunities in the year ahead to again demonstrate the unique advantages of our operating model and to take advantage of our multiple avenues for growth," added Buck.
Sales and Adjusted EBITDA Guidance (1)
($ in millions)
| 2024 |
Low |
High |
| Sales |
$ |
5,360 |
$ |
5,560 |
| Adjusted EBITDA* |
$ |
1,040 |
$ |
1,130 |
*See table for adjusted EBITDA reconciliation.
| 2024 Assumptions |
| Residential Revenue |
Mid Single Digit Growth |
| Commercial/Industrial Revenue |
Mid Single Digit Growth |
| CapEx (% of Sales) |
1.5% to 2.0% |
| Working Capital Goal (% LTM Sales) |
12% to 14% |
| Income Tax Rate |
25% to 27% |
| Incremental Adjusted EBITDA (Organic) |
22% to 27% |
| Incremental Adjusted EBITDA (Acquisitions Year One) |
11% to 16% |
Posted In: BLD
