TopBuild Raises 2024 Outlook: Now Expects Sales Of $5.4B-$5.6B (Prior $5.36B-$5.56B) Vs. $5.496B Consensus; Sees Adjusted EBITDA Of $1.065B-$1.155B
Portfolio Pulse from Benzinga Newsdesk
TopBuild has updated its 2024 financial outlook, raising sales expectations to $5.4B-$5.6B from the previous $5.36B-$5.56B, surpassing the consensus of $5.496B. The company also forecasts adjusted EBITDA to be between $1.065B and $1.155B, attributing the positive adjustment to strong first-quarter profitability and recent acquisitions.
May 07, 2024 | 10:54 am
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TopBuild raises its 2024 sales and adjusted EBITDA outlook due to strong Q1 profitability and recent acquisitions.
TopBuild's upward revision of its 2024 financial outlook, especially exceeding the sales consensus, indicates strong company performance and strategic acquisitions. This positive news is likely to instill investor confidence, potentially driving up the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100