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Jun 30, 2024
Installed Building Products Q2 2024 Earnings Report
Installed Building Products reported record second quarter results, driven by growth in core end markets and strategic acquisitions.
Key Takeaways
Installed Building Products reported a strong second quarter with net revenue increasing by 6.6% to $737.6 million and net income increasing by 5.8% to $65.2 million. The company's growth was supported by positive trends in residential end markets and contributions from recent acquisitions. IBP continues to focus on organic growth and accretive acquisitions to create long-term shareholder value.
Net revenue increased 6.6% to $737.6 million.
Net income increased 5.8% to a record $65.2 million.
Adjusted EBITDA increased 6.3% to a record $129.8 million.
IBP acquired over $50 million of annual revenue year-to-date.
Revenue by Segment
Forward Guidance
IBP's outlook for 2024 remains positive, with a focus on organic growth and accretive acquisitions to create value for shareholders over the long term.
Positive Outlook
- Builders continued to meet new construction home demand.
- Strategic focus on providing high quality service to customers.
- Robust profit margins.
- Strong operating cash flow.
- Well-positioned to continue to execute on growth-oriented acquisition strategy.
Challenges Ahead
- General economic and industry conditions.
- Increases in mortgage interest rates and rising home prices.
- Inflation and interest rates.
- The material price and supply environment.
- The timing of increases in our selling prices.
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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