Installed Building Products First Quarter 2024 Earnings: Beats Expectations

Installed Building Products (NYSE:IBP) First Quarter 2024 Results

Key Financial Results

• Revenue: US$692.9m (up 5.1% from 1Q 2023).
• Net income: US$55.9m (up 13% from 1Q 2023).
• Profit margin: 8.1% (up from 7.5% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.98 (up from US$1.76 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Installed Building Products Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 1.3%.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Consumer Durables industry in the US.

Performance of the American Consumer Durables industry.

The company's shares are down 3.2% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Installed Building Products that we have uncovered.

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