Financial Performance - Net revenue for Q3 2024 reached a record $760.6 million, a 7.7% increase from $706.5 million in Q3 2023[1] - Net income rose 0.9% to $68.6 million, with net income per diluted share increasing 1.7% to $2.44[1] - Adjusted EBITDA reached an all-time high of $132.3 million, reflecting a 1.4% increase from the previous year[1] - Comprehensive income for the nine months ended September 30, 2024, was $183.8 million, compared to $183.5 million for the same period in 2023, reflecting a slight increase[21] - Basic earnings per share (EPS) for the nine months ended September 30, 2024, was $6.75, up from $6.35 in the prior year, representing a 6.3% increase[21] - Total revenue for the nine months ended September 30, 2024, was $2,191.1 million, up from $2,057.9 million in the same period of 2023[29] - Adjusted net income for the nine months ended September 30, 2024, was $230.8 million, up from $213.6 million in the same period of 2023, reflecting a 8.8% increase[39] Revenue Breakdown - Installation revenue increased by 7.9% to $713.7 million, driven by growth across all end markets and contributions from recent acquisitions[1] - Residential new construction accounted for 72% of installation revenue, generating $548.8 million in the three months ended September 30, 2024, up from $518.1 million in 2023[31] - The company reported a net revenue of $760.6 million for the three months ended September 30, 2024, with installation contributing 94% of total revenue[31] - Revenue for the three months ended September 30, 2024, was $760.6 million, a 7.4% increase from $706.5 million in the same period of 2023[29] Expenses and Profitability - Gross profit improved by 6.1% to $256.8 million, with a gross profit margin of 33.8%[10] - Selling and administrative expenses as a percentage of total revenue increased to 19.1% compared to 18.2% in the prior year[11] - Operating expenses for the three months ended September 30, 2024, were $155.5 million, an increase from $139.8 million in the same period of 2023[30] - Gross profit for the nine months ended September 30, 2024, was $742.7 million, compared to $685.0 million in the same period of 2023, marking an 8.4% increase[46] - Selling and administrative expense for the nine months ended September 30, 2024, was $422.1 million, compared to $379.8 million in the same period of 2023, reflecting a 11.1% increase[48] Cash Flow and Assets - Net cash provided by operating activities for the nine months ended September 30, 2024, was $265.2 million, compared to $250.5 million for the same period in 2023, indicating a 5.9% increase[24] - Cash and cash equivalents at the end of the period increased to $406.2 million from $339.8 million, reflecting a growth of 19.7%[26] - Total assets increased to $2,072.5 million as of September 30, 2024, from $1,981.3 million at December 31, 2023, marking a growth of 4.6%[23] - Long-term debt as of September 30, 2024, was $840.8 million, slightly up from $835.1 million at December 31, 2023[23] - Total liabilities increased to $1,356.1 million as of September 30, 2024, from $1,311.0 million at December 31, 2023, representing a 3.4% increase[23] Shareholder Returns - The fourth quarter cash dividend of $0.35 per share represents a 6% increase from the previous year's fourth quarter dividend[7] - The company declared cash dividends of $0.35 per share for the current period, up from $0.33 per share in the previous period[21] - The company repurchased 100,000 shares of common stock for a total cost of $20.7 million during Q3 2024[1] Strategic Outlook - The company maintains a positive outlook for 2025, expecting further acquisitions and continued growth in residential and commercial markets[3][4] - IBP has acquired over $73 million in annual revenue through acquisitions in 2024, including Insulation Supplies and Euroview Enterprises[2][5] - The company plans to wind down operations of a non-core commercial branch by March 31, 2025, due to unfavorable market conditions[37] - The company expects to complete the closure of the non-core branch by March 31, 2025[50] Impairment Charges - The company recognized asset impairment charges of $4.9 million during the nine months ended September 30, 2024, related to winding down operations of a non-core branch[41] - The company recognized intangible and asset impairment charges of $4.9 million during the nine months ended September 30, 2024[54]

Core Viewpoint - The market anticipates Installed Building Products (IBP) will report a year-over-year increase in earnings driven by higher revenues for the quarter ending September 2024, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - IBP is expected to report quarterly earnings of $2.98 per share, reflecting a year-over-year increase of 6.8%, and revenues are projected to be $757.91 million, up 7.3% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 2.82% over the last 30 days, indicating a reassessment by analysts regarding the company's earnings prospects [4][10]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that the Most Accurate Estimate for IBP is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.15%, which suggests a bearish outlook [10]. Historical Performance - IBP has beaten consensus EPS estimates in the last four quarters, with the most recent quarter showing a surprise of +4.50% [11][12]. Industry Comparison - Another company in the building products sector, Aspen Aerogels, is expected to report a loss of $0.05 per share, with revenues anticipated to be $116.97 million, reflecting a significant year-over-year increase of 92.5% [16].

Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well ...

Installed Building Products, Inc. (IBP) acquired Wholesale Insulation Supply, Inc., known as Insulation Supplies. Established in 1986 and headquartered in New Hope, MN, Insulation Supplies serves customers across Minnesota and the upper Midwest. The company generates over $22 million in annual revenues, specializing in the distribution of fiberglass, spray foam, and cellulose insulation, along with insulation accessories and machinery for both residential and commercial markets. IBP's Stock Performance Shar ...

The Good Brigade Investment action I recommended a buy rating for Installed Building Products (NYSE:IBP) when I wrote about it in November 2023, as I expected, growth to be well-supported by its strong backlog and volume, which saw improvement due to the increase in single-family starts. Since then, IBP has done way better than I had modeled, with share prices now trading at ~$200 (from a peak of $281) vs. my previous price target of ~$185. Based on my current outlook and analysis, I am downgrading from buy ...

Installed Building Products, Inc. (NYSE:IBP) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Darren Hicks - MD-IR Jeff Edwards - Chairman and CEO Michael Miller - CFO Jason Niswonger - Chief Administrative and Sustainability Officer Conference Call Participants Stephen Kim - Evercore ISI Adam Baumgarten - Zelman & Associates Michael Rehaut - JPMorgan Mike Dahl - RBC Capital Markets Reuben Garner - Benchmark Company Ken Zener - Seaport Research Partners Philip Ng - Jefferies ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From _________ To ________ Commission File Number: 001-36307 | --- | --- | |---------------------------------------------------------------------------------------------------- ...

Installed Building Products (IBP) came out with quarterly earnings of $3.02 per share, beating the Zacks Consensus Estimate of $2.89 per share. This compares to earnings of $2.62 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.50%. A quarter ago, it was expected that this residential insulation installer would post earnings of $2.23 per share when it actually produced earnings of $2.47, delivering a surprise of 10.76%. Over ...

INSTALLED BUILDING PRODUCTS REPORTS RECORD SECOND QUARTER 2024 RESULTS; DECLARES REGULAR QUARTERLY CASH DIVIDEND Columbus, Ohio, August 1, 2024, Installed Building Products, Inc. (the "Company" or "IBP") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced results for the second quarter ended June 30, 2024. Second Quarter 2024 Highlights (Comparisons are to Prior Year Period) • Net revenue increased 6.6% to $737.6 million ◦ Installation revenue increa ...

The positive inflation report on Jul 11, 2024, most likely induced bullish sentiments among investors. The Bureau of Labor Statistics revealed that the Consumer Price Index (CPI) for June 2024 increased by 3% yearon-year, the lowest level in over three years. Furthermore, this better-than-expected figure suggests the Federal Reserve may start cutting rates this year, moving closer to the 2% target. While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, ...