By Chris Wack

Installed Business Products shares were 25% lower, at $223.33, after the company reported first-quarter revenue and profit that were lower than last year.

The engineering and construction company reported quarterly revenue of $660.5 million, compared with $684.8 million in the same quarter last year. Analysts polled by FactSet were looking for revenue of $668.9 million.

Net income for the quarter was $34.8 million, or $1.29 a share, down from $45.4 million, or $1.64 a share, last year. Analysts were looking for earnings of $44.2 million, or $1.59 a share.

Adjusted earnings was $1.79 a share, compared to the $1.96 analysts had forecast.

The company said the last quarter included a macroeconomic backdrop that has raised uncertainty with respect to U.S. consumer sentiment and new home sales activity. It expects near-term challenges within U.S. residential construction to continue

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 07, 2026 14:06 ET (18:06 GMT)

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