Installed Building Products (IBP) Lags Q3 Earnings Estimates

Core Insights - Installed Building Products (IBP) reported quarterly earnings of $2.85 per share, missing the Zacks Consensus Estimate of $2.98 per share, but showing an increase from $2.79 per share a year ago, resulting in an earnings surprise of -4.36% [1] - The company posted revenues of $760.6 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.36% and increasing from $706.47 million year-over-year [2] - The stock has gained approximately 24.5% since the beginning of the year, slightly outperforming the S&P 500's gain of 24.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $3.04 on revenues of $781.84 million, while for the current fiscal year, the estimate is $11.42 on revenues of $2.97 billion [7] - The trend of estimate revisions for Installed Building Products has been unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Building Products - Miscellaneous industry is currently ranked in the top 37% of over 250 Zacks industries, suggesting that stocks in the top 50% tend to outperform those in the bottom 50% by more than 2 to 1 [8]