Installed Building Products Q2 2024 Earnings Report
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.
Installed Building Products
Installed Building Products
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.