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Dec 31, 2022
Installed Building Products Q4 2022 Earnings Report
Installed Building Products reported record fourth quarter and fiscal year 2022 results, with revenue increasing by 28.6% and net income increasing by 134.0%.
Key Takeaways
Installed Building Products reported a strong fourth quarter and fiscal year 2022, achieving record revenue, net income, and adjusted EBITDA. The company focused on supporting residential and commercial customers, managing market demand, and aligning selling prices. IBP completed eight acquisitions during 2022, contributing to its growth.
Net revenue increased 28.6% to a record $686.5 million.
Installation revenue increased 22.7% to $641.0 million, driven by strong growth in residential new construction markets.
Net income increased 134.0% to $68.7 million.
Adjusted EBITDA increased 54.3% to a record $115.4 million.
Installed Building Products
Installed Building Products
Installed Building Products Revenue by Segment
Revenue by Segment
Other 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 in 2023 and is well-positioned to navigate the cyclicality of the U.S. housing market.
Positive Outlook
- Strong customer relationships
- Experienced leadership team
- National scale
- Diverse product categories
- Roughly $230 million in cash and cash equivalents
Challenges Ahead
- Cyclicality of the U.S. housing market
- Rising home prices
- Inflation and interest rates
- Material price and supply environment
- The risk that the Company may reduce, suspend or eliminate dividend payments in the future
Revenue & Expenses
Visualization of income flow from segment revenue to net income