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Mar 31, 2024
Installed Building Products Q1 2024 Earnings Report
Installed Building Products reported first quarter 2024 results, showing revenue growth and increased profitability.
Key Takeaways
Installed Building Products reported a 5.1% increase in net revenue to $692.9 million and a 13.4% increase in net income to $55.9 million for the first quarter of 2024. The company saw growth in installation revenue, driven by single-family and multi-family sales, as well as contributions from recent acquisitions. They declared a second quarter dividend of $0.35 per share.
Net revenue increased by 5.1% to $692.9 million.
Net income increased by 13.4% to $55.9 million.
Adjusted EBITDA increased by 11.6% to $117.3 million.
Cash and cash equivalents totaled $399.9 million as of March 31, 2024.
Revenue by Segment
Forward Guidance
The outlook for 2024 remains promising and the company aims to continue to create significant value for its stakeholders over the long term. IBP continues to prioritize profitable growth through its proven strategy of acquiring well-run installers of insulation and complementary building products.
Positive Outlook
- Improvements in the single-family end-market
- Continuation of healthy sales growth in the multi-family end market.
- Customers are committed to building single-family homes.
- Long-term opportunities in residential and commercial end markets remain attractive.
- Strong balance sheet and cash flow generation.
Challenges Ahead
- General economic and industry conditions
- Increases in mortgage interest rates and rising home prices
- Inflation and interest rates
- Material price and supply environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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