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Sep 30, 2022
Installed Building Products Q3 2022 Earnings Report
Installed Building Products reported record quarterly results.
Key Takeaways
Installed Building Products reported a record third quarter with net revenue increasing by 41.1% to $719.1 million and net income increasing by 74.8% to $61.0 million. The company benefited from strong growth across residential end-markets and positive price/mix trends.
Net revenue increased 41.1% to a quarterly record of $719.1 million.
Net income increased 74.8% to $61.0 million.
Adjusted EBITDA increased 53.8% to a record $120.2 million.
Price/mix growth increased by a record 27.1% during the third quarter.
Installed Building Products
Installed Building Products
Forward Guidance
Despite macroeconomic headwinds, IBP expects the meaningful backlog of residential units and extended construction cycle times to support demand for our installation services throughout the remainder of 2022 and into 2023.