TopBuild Corp. (NYSE:BLD) Q2 2024 Earnings Conference Call August 6, 2024 9:00 AM ET

Company Participants

PI Aquino - VP, IR
Robert Buck - President and CEO
Robert Kuhns - CFO

Conference Call Participants

Stephen Kim - Evercore
Susan Maklari - Goldman Sachs
Ken Zener - Seaport
Maggie Grady - Jefferies
Jeffrey Stevenson - Loop Capital
Noah Merkousko - Stephens

Operator

Greetings and welcome to the TopBuild's Second Quarter 2024 Earnings Conference Call. 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, PI Aquino, Vice President of Investor Relations. Thank you. You may begin.

PI Aquino

Good morning and thanks for joining us. On our call today are Robert Buck, President and Chief Executive Officer, and Rob Kuhns, Chief Financial Officer. We have posted our earnings release, senior management's formal remarks, and a presentation that summarizes our comments on our website at topbuild.com.

Many of our remarks today 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 any forward-looking statements because of new information, future events, or otherwise.

Please note that some of the financial measures to be discussed during 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 presentation, both of which are available on our website.

I'll now turn the call over to President and CEO, Robert Buck.

Robert Buck

Good morning and thank you for joining us today. TopBuild delivered a solid second quarter, with both segments growing top line sales and bottom-line profits. Our teams have stayed focused on driving profitable growth and operational improvements across all of our businesses, even considering uneven housing demand and various commercial project delays - both the result of higher interest rates for longer than originally anticipated.

I'm proud of the strength of our team and the diversification of our business model, which positions us well to deliver long-term growth. Today's underbuilt housing landscape, rising household formations, potential for interest rate moderation, and escalating demand for energy efficient building codes support the long-term demand for TopBuild's products and services.