TopBuild Corp. delivered solid third-quarter 2025 results and signaled confidence in its growth trajectory, fueled by a string of recent acquisitions totaling $1.2 billion in annual revenue.

The installer and specialty distributor of insulation and related building material products to the construction industry in the United States and Canada, based in Daytona Beach, Fla., said steady demand in commercial and industrial markets helped offset softness in residential construction, prompting an upward revision to its 2025 outlook.

Sales for the third quarter, ended Sept. 30, 2025, totaled $1.4 billion, up 1.4% including acquisitions, and a gross margin of 30.1%. The  Installation Services segment sales grew 0.2% and Specialty Distribution sales improved 1.4%. 

"Our team’s efforts to drive productivity and operational excellence are reflected in the continued strength of our profitability," said TopBuild President and CEO Robert Buck. 

TopBuild said it continues to prioritize acquisitions for capital allocation and, as of Sept. 30, 2025, has spent approximately $851.2 million on acquisitions year-to-date. The company closed the following acquisitions this year: Seal-Rite Insulation in April, Progressive Roofing in July, Insulation Fabrics in September, and Specialty Products and Insulation, Diamond Door Products and Performance Insulation Fabricators in October. The acquisition of L&L Insulation is expected to close in November.

“Although weak consumer confidence and economic uncertainty are weighing on demand for residential new construction in the near term, the strength in commercial and industrial is very encouraging, and we are well-positioned to capture opportunities in these important and growing end markets,” Buck said.