DAYTONA BEACH, Fla. (AP) — DAYTONA BEACH, Fla. (AP) — TopBuild Corp. (BLD) on Tuesday reported first-quarter profit of $123.4 million.
The Daytona Beach, Florida-based company said it had net income of $4.23 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $4.63 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.43 per share.
The insulation products company posted revenue of $1.23 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.24 billion.
TopBuild expects full-year revenue in the range of $5.05 billion to $5.35 billion.
TopBuild shares have decreased 6% since the beginning of the year. The stock has fallen 27% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLD at https://www.zacks.com/ap/BLD
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