TopBuild Corp. (NYSE:BLD) Q4 2022 Results Conference Call February 23, 2023 9:00 AM ET

Company Participants

Tabitha Zane - VP, IR

Robert Buck - President and CEO

Rob Kuhns - CFO

Conference Call Participants

Stephen Kim - Evercore ISI

Joe Ahlersmeyer - Deutsche Bank

Phil Ng - Jefferies

Mike Rehaut - JPMorgan

Keith Hughes - Truist Securities

Adam Baumgarten - Zelman

Jeff Stevenson - Loop Capital Markets

Trey Grooms - Stephens Inc.

Dan Oppenheim - Credit Suisse

Operator

Greetings. Welcome to the TopBuild’s Fourth Quarter and Year-End 2022 Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

I’ll now turn the conference over to your host, Tabitha 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 risk 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 fourth quarter presentation, which can 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. As you can see from today’s press release, we had an outstanding fourth quarter and a record 2022. Our diversified business model and seasoned management team once again delivered strong top line and bottom line growth. Our team successfully balanced expected our cost increases with selling price adjustments and did an excellent job managing both material and labor constraints by efficiently moving resources across our network to meet the needs of our customers and grow our business. While Rob will discuss our financial results in detail, I’d like to give a brief overview of our operating results.