In other recent news, TopBuild Corp. reported its first-quarter earnings for 2025, surpassing expectations with an earnings per share (EPS) of $4.63, compared to a forecast of $4.43. The company's revenue met expectations at $1.23 billion. Additionally, TopBuild's capital structure saw significant changes as it refinanced its $500 million revolver and $476 million outstanding term loan A with a new five-year facility. This new facility includes a $1 billion revolver, a $1 billion term loan A, and a $250 million delayed-draw term loan, aimed at funding future acquisitions and general corporate purposes. S&P Global Ratings revised the recovery rating on TopBuild's senior notes to '4' from '3', indicating lower recovery prospects for unsecured lenders due to increased priority debt. Despite these changes, the issuer credit rating remains at 'BB+' with a stable outlook.