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Dec 31, 2024
Installed Building Products Q4 2024 Earnings Report
Installed Building Products reported record Q4 2024 revenue and earnings, driven by growth across its installation and other revenue segments.
Key Takeaways
Installed Building Products posted a record Q4 2024 revenue of $750.2 million, a 4.1% year-over-year increase. Net income rose 3.1% to $66.9 million, with adjusted net income reaching $80.6 million. The installation segment drove growth, supported by acquisitions and increased residential activity. The company maintained strong profitability despite a slight decline in gross margin.
Total revenue reached a record $750.2 million, up 4.1% year-over-year.
Net income increased by 3.1% to $66.9 million.
Adjusted EBITDA grew 2.9% to $132.0 million.
Same-branch installation sales grew 1.5%, with residential sales up 1.8%.
Installed Building Products
Installed Building Products
Installed Building Products Revenue by Segment
Revenue by Segment
Residential New Construction Revenue
CapyFin.comRepair and Remodel Revenue
CapyFin.comCommercial Revenue
CapyFin.com Forward Guidance
Installed Building Products expects continued revenue growth in 2025, supported by acquisitions and ongoing residential market expansion. However, commercial growth remains uncertain due to economic conditions.
Positive Outlook
- Strong residential new construction demand is expected to support growth.
- Plan to acquire at least $100 million in annual revenue from acquisitions.
- Continued margin improvement through operational efficiencies.
- Board approved a 6% increase to regular and variable dividends.
- New $500 million stock repurchase authorization in place.
Challenges Ahead
- Commercial installation sales remain pressured by market conditions.
- Higher material and labor costs may impact profit margins.
- Macroeconomic uncertainty could affect housing affordability and demand.
- Potential slowdown in multi-family segment due to market saturation.
- Interest rate environment may impact new project activity.
Revenue & Expenses
Visualization of income flow from segment revenue to net income