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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $778.20 mln | $750.91 mln (12 Analysts) |
Q3 Net Income | $74.40 mln | ||
Q3 Gross Profit | $264.20 mln | ||
Q3 Operating Income | $106.80 mln | ||
Q3 Pretax Profit | $100.30 mln |
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.)