07:20 AM EDT, 08/06/2024 (MT Newswires) -- TopBuild ( BLD ) reported Q2 adjusted earnings Tuesday of $5.42 per diluted share, up from $5.25 a year earlier.

Analysts surveyed by Capital IQ expected $5.67.

Net sales for the quarter ended June 30 were $1.37 billion, compared with $1.32 billion a year earlier.

Analysts polled by Capital IQ expected $1.40 billion.

The company said it now expects 2024 sales of $5.30 billion to $5.50 billion, compared with the previous range of $5.40 billion to $5.60 billion. Analysts polled by Capital IQ expect $5.51 billion.

Shares of the company fell more than 7% in recent premarket activity.

Price: 395.01, Change: -30.26, Percent Change: -7.12