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Jun 30, 2023
Installed Building Products Q2 2023 Earnings Report
Installed Building Products reported record second quarter results, marked by increased revenue and earnings per share, driven by multi-family and commercial new construction end markets and acquisitions.
Key Takeaways
Installed Building Products reported a 2.3% increase in net revenue to a record $692.1 million for the second quarter of 2023. Net income increased by 2.8% to a record $61.6 million, with earnings per diluted share rising by 5.3% to $2.18. The company's multifamily business saw a 38.3% increase on a same branch basis, offsetting softer single-family sales.
Net revenue increased 2.3% to a second quarter record of $692.1 million.
Net income increased 2.8% to a second quarter record of $61.6 million.
Adjusted net income per diluted share increased 5.6% to a record of $2.62.
IBP had $255.2 million in cash and cash equivalents as of June 30, 2023.
Revenue by Segment
Forward Guidance
IBP expects to acquire at least $100 million of annual revenue for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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