TopBuild Corp. (NYSE:BLD) Q1 2023 Results Conference Call May 4, 2023 9:00 AM ET
Company Participants
Tabitha Zane - VP, IR
Robert Buck - President and CEO
Rob Kuhns - CFO
Conference Call Participants
Joe Ahlersmeyer - Deutsche Bank
Mike Rehaut - JPMorgan
Adam Baumgarten - Zelman
Keith Hughes - Truist Securities
Phil Ng - Jefferies
Stephen Kim - Evercore ISI
Carl Reichardt - BTIG
Operator
Greetings, and welcome to the TopBuild's First Quarter 2023 Earnings Release. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Tabitha Zane, Vice President, Investor Relations. Thank you, Ms. Zane, you may begin.
Tabitha Zane
Thank you, and good morning. On the call today are Robert Buck, President and Chief Executive Officer; and Rob Kuhns, Chief Financial Officer. We have posted senior management's formal remarks and a PowerPoint presentation that summarizes our comments on our website at topbuild.com. Many of our remarks 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 or supplement forward-looking statements that become untrue because of subsequent events. Please note that some of the financial measures to be discussed on 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 first quarter presentation, which can also be found on our website.
I will now turn the call over to Robert Buck.
Robert Buck
Good morning, and thank you for joining us today. We are pleased to report that 2023 is off to a good start with a solid first quarter performance. Revenue increased 8.2% and our adjusted EBITDA margin expanded 150 basis points to 18.8%. Both business segments, installation and specialty distribution also expanded our adjusted operating and EBITDA margins.
Our consistently strong performance quarter-after-quarter is a direct result of the hard work of our operations and branch support teams, the insight and command we have into all facets of our business, our focus on operational efficiency and excellence; our uniquely advantaged business model with both installation and specialty distribution, our diversified end markets, residential, commercial and industrial, our strong partnerships with our suppliers and customers and our strategic approach to acquisitions and their integration onto our advanced ERP platform.