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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.
Installed Building Products
Installed Building Products
Installed Building Products Revenue by Segment
Revenue by Segment
Installation Revenue
CapyFin.comResidential New Construction Revenue
CapyFin.comRepair and Remodel Revenue
CapyFin.comCommercial Revenue
CapyFin.com 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