Installed Building Products Q2 2022 Earnings Report
Key Takeaways
Installed Building Products reported a record second quarter with net revenue increasing by 38.7% to $676.7 million and net income increasing by 61.0% to $59.9 million. The company's success was driven by strong end-market demand and the effective alignment of selling prices with customer value.
Net revenue increased 38.7% to a quarterly record of $676.7 million.
Net income increased 61.0% to $59.9 million.
Adjusted net income per diluted share increased 55.9% to $2.48.
Price/mix growth increased by a record 24.9% during the second quarter.
Installed Building Products
Installed Building Products
Forward Guidance
IBP continues to prioritize profitable growth through its proven strategy of acquiring well-run installers of insulation and complementary building products. To date in 2022, IBP has acquired over $71 million of annual revenue and expects to acquire at least $100 million of revenue for the full year.