10-K · February 26, 2026
Installed Building Products reports net revenue of $3.0 billion for 2025, up from $2.9 billion in 2024 and $2.8 billion in 2023, with a national footprint (~250 branches) and a multi-decade acquisition track record…
Earnings analysis · 10-Q
IBP earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Installed Building Products, Inc. reported a decline in Q1 2026 revenue of $660.5 million, a 3.5% decrease from the prior year, and EPS of $1.29, significantly below estimates of $1.95. The company cited challenges in…
Read full summary
Installed Building Products, Inc. reported a decline in Q1 2026 revenue of $660.5 million, a 3.5% decrease from the prior year, and EPS of $1.29, significantly below estimates of $1.95. The company cited challenges in residential job volume and increased costs impacting margins, although it reported a strong liquidity position with $474.3 million in cash.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.29
- Gross margin
- 32.1%
- Segment
- Residential: (10.3%)
- Segment
- Commercial: 10.7%
- Segment
- Distribution & Manufacturing: 34.8%
What stood out
-
Revenue Decrease
Q1 2026 revenue was $660.5 million, down 3.5% from $684.8 million in Q1 2025.
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EPS Misses Estimates
Diluted EPS for Q1 2026 was $1.29, missing estimates of $1.95.
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Strong Cash Reserves
The company reported cash and cash equivalents of $474.3 million.
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Increased Stock Repurchases
Returned $84.6 million in capital to shareholders through dividends and stock repurchases.
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Operational Cash Flow Gains
Net cash provided by operating activities increased to $102.3 million from $92.1 million year-over-year.
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Drop in Residential Sales
Residential sales fell 10.3% year-over-year, with Installation segment volume declining by 9.9%.
What to watch
-
Residential Sales Decline
Residential segment sales dropped 10.3% year-over-year amid a challenging demand environment.
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Rising Labor and Material Costs
Higher labor costs and vehicle insurance pressured margins, contributing to a gross profit decline of 5.1%.
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Increased Interest Expenses
Net interest expense rose 24.1% to $10.3 million, primarily due to increased debt levels.
Management's outlook
No specific forward guidance provided for revenue or EPS.
Earlier filings 4
10-K · February 27, 2025
Installed Building Products (IBP) reports net revenue of $2.9 billion for the year ended December 31, 2024, with a national footprint of approximately 250 branch locations and a long-standing acquisition-led growth…
10-Q · November 7, 2024
Installed Building Products reported third-quarter net revenue of $760.6 million, up $54.1 million year-over-year from $706.5 million, driven by strength in the Installation segment. Gross margin compressed modestly to…
10-Q · November 8, 2023
Installed Building Products reported Q3 net revenue of $706,465 (in thousands) and diluted EPS of $2.40. Revenue declined modestly year-over-year while gross profit, operating income and operating cash flow improved,…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.