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Mar 31, 2022
Installed Building Products Q1 2022 Earnings Report
Installed Building Products reported record first quarter results driven by strong market dynamics and strategic execution.
Key Takeaways
Installed Building Products reported a record first quarter in 2022, with net revenue increasing by 34.4% to $587.5 million. The company experienced strong growth across its residential new construction, repair and remodel, and commercial markets. Net income increased by 95.6% to $33.8 million, and adjusted net income per diluted share increased by 71.1% to $1.54.
Net revenue increased 34.4% to a quarterly record $587.5 million.
Installation revenue increased 30.0% to $561.6 million, driven by strong growth across IBP’s residential new construction, repair and remodel, and commercial markets.
Net income increased 95.6% to $33.8 million.
Adjusted net income per diluted share increased 71.1% to $1.54.
Installed Building Products
Installed Building Products
Installed Building Products Revenue by Segment
Revenue by Segment
Residential New Construction Revenue
CapyFin.comRepair and Remodel Revenue
CapyFin.comCommercial Revenue
CapyFin.com Forward Guidance
Residential construction is expected to remain supportive of IBP's business in 2022 due to the substantial number of permitted new housing units that have yet to be started. The seasonal trends typically experienced throughout the year are expected to be more muted in 2022 given the strong industry backlog. Overall, 2022 is shaping up to be another year of profitable growth and value creation for IBP.
Positive Outlook
- Residential construction is expected to remain supportive of our business in 2022.
- Seasonal trends we typically experience throughout the year to be more muted in 2022 given the strong industry backlog.
- 2022 is shaping up to be another year of profitable growth
- 2022 is shaping up to be another year of value creation for IBP
- IBP expects to acquire at least $100 million of revenue in 2022
Challenges Ahead
- Ongoing supply chain constraints
- Ongoing supply chain disruptions
- Material purchases outside of typical supply chain channels
- COVID-19 pandemic
- Inflation and interest rates
Revenue & Expenses
Visualization of income flow from segment revenue to net income