TopBuild Corp Investor Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Philip Ng - Jefferies LLC - Analyst : Well, my question is for Nick and David. I guess it was really impressive in terms of your presentation, the multi-generation building that business. I guess, what were you able -- what weren't you able to do as a stand-alone versus being part of TopBuild going forward? And how do you scale the business, right? M&A is going to be a very big part of the opportunity going forward. How do you integrate these deals? And how long does it take to the companies that you acquire embrace the DNA of Progressive?

Question: Philip Ng - Jefferies LLC - Analyst : Phil Ng from Jefferies. We understand the pricing power in your legacy residential insulation business, especially when we have an up cycle. But now that your commercial industrial business is much bigger, 50%, help us appreciate through a cycle, is there as much torque on price? Or is it more steady? And I guess a question for John. You talked at length in terms of operational excellence and looking at the top and bottom branch. Is there that opportunity on your commercial industrial distribution business as well as commercial roofing?