Overview

• Installed Building Products Q3 revenue rose 2.3%, beating analyst expectations

• Adjusted EBITDA for Q3 increased 5.7% to a record $139.9 mln

• Company repurchased 200,000 shares for $51.5 mln in Q3

Outlook

• Company anticipates some acquisition targets may be delayed to 2026

• IBP continues to prioritize growth through acquisitions

• Company sees potential impact on 2025 revenue goal due to acquisition delays

Result Drivers

• OTHER REVENUE GROWTH - Other revenue, including manufacturing and distribution operations, increased 21.7% to $57.1 mln, driving overall revenue growth

• ACQUISITIONS - Recent acquisitions contributed to a 1.0% increase in installation revenue, reaching $721.1 mln

• MARKET DYNAMICS - Residential same branch sales declined by 2.8% while commercial sales increased by 11.7%, reflecting varied local market dynamics

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the construction & engineering peer group is "buy."

• Wall Street's median 12-month price target for Installed Building Products Inc is $240.00, about 0.8% above its November 4 closing price of $238.02

• The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release: ID:nBw7Yk711a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)