Installed Building Products, Inc. (IBP) Earnings
Installed Building Products, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $2.62. IBP has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +7.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $1.96 | $1.79 | -8.7% | $661M | -1.3% |
| Feb 26, 2026 | $2.80 | $2.83 | +1.1% | $748M | +1.2% |
| Nov 5, 2025 | $2.69 | $3.18 | +18.2% | $778M | +5.3% |
| Aug 7, 2025 | $2.45 | $2.95 | +20.4% | $760M | -1.3% |
| May 8, 2025 | $2.18 | $2.08 | -4.6% | $685M | -5.4% |
| Feb 27, 2025 | $2.91 | $2.90 | -0.3% | $750M | -1.7% |
| Nov 7, 2024 | $3.02 | $2.85 | -5.6% | $761M | +0.4% |
| Aug 1, 2024 | $2.89 | $3.02 | +4.5% | $738M | -3.7% |
| May 9, 2024 | $2.32 | $2.47 | +6.5% | $693M | +1.4% |
| Feb 22, 2024 | $2.45 | $2.72 | +11.0% | $721M | +5.6% |
| Aug 2, 2023 | $2.25 | $2.62 | +16.4% | $692M | +5.5% |
| May 4, 2023 | $2.08 | $2.15 | +3.4% | $659M | -1.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Jeff Edwards started by highlighting solid top-line results despite extreme weather and macroeconomic challenges. Service quality was maintained high. Product diversification and expense management were key initiatives. Commercial end market showed strength with double-digit installation sales growth. Completed 4 acquisitions in Q1 with total annual sales of approx $28 million. Mentioned U.S. Census Bureau data on housing starts. Michael Miller discussed financial results in detail, including net revenue, same branch sales, margins, EBITDA, net income, and expectations for amortization expense, tax rate, cash flow, net interest expense, debt leverage, working capital, capital expenditures, cash balance, share repurchases, and dividends.
Guidance
Expect second quarter and full year 2026 amortization expense of approximately $10 million and $40 million respectively. Expect effective tax rate of 25% to 27% for full year ending December 31, 2026. Expect positive free cash flow to support shareholder returns and stock buybacks based on market conditions.
Segment performance
Consolidated net revenue for the first quarter was down 4% to $661 million, compared to $685 million for the same period last year. Same branch sales for the installation segment were down 7% for the first quarter, with an 11% decline in new residential same branch sales partially offset by an 11% increase in commercial same-brand sales. Adjusted gross margin was 32.2% compared to 32.7% in the prior year period. Adjusted EBITDA for the 2026 first quarter was $92 million, reflecting an adjusted EBITDA margin of 13.9%, and adjusted net income was $48 million or $1.79 per diluted share. Spray foam represents about 11% of total sales. Heavy commercial business grew 22% in the quarter.
Risks & headwinds
Extreme weather caused fewer working days and missed revenue opportunities. Macroeconomic backdrop changes with geopolitical factors raising uncertainty for U.S. consumers and challenging new home sales. Higher medical and general liability insurance costs, higher facility costs, and vehicle insurance costs impacted margins. Difficulty in predicting deal timing for acquisitions. Uncertainty around ability to make up for weather-related volume shortfalls in a timely manner.
Analyst Q&A
Q: Updated outlook on industry pricing?
A: Michael Miller said no tightness in fiberglass material near term, spray foam price increase likely to have traction.
Q: Industry capacity utilization?
A: Jeff Edwards said no tightness in material flow currently.
Q: Multifamily outlook?
A: Michael Miller said encouraged by multifamily backlogs but some projects slow walked.
Q: Gross margins?
A: Michael Miller explained drivers of gross margin variance including volume, product margin, mix, depreciation, vehicle insurance.
Q: Weather and regional implications?
A: Michael Miller said Mid-Atlantic branches were impacted but volume expected to be made up.
Q: M&A environment?
A: Jeff Edwards said healthy M&A backdrop with good pipeline.
Q: Shape of year for single-family starts?
A: Phil NG was told organic growth down but price mix up.
Q: Impact of competitor merger?
A: Jeff Edwards said no great changes expected.
Q: Fuel dynamic?
A: Michael Miller said $15 - $20 million impact for rest of year with fuel surcharges from manufacturers.
Q: Multifamily project delays?
A: Trey Grooms was told delays project specific.
Q: Commercial delays?
A: Trey Grooms was told heavy commercial growth strong but comps difficult.
Q: Heavy commercial growth composition?
A: Adam Baumgardner was told price will continue to be a driver.
Q: Confidence in census data?
A: Michael Miller said less confidence in month-to-month census data.
Q: Gross margin range and surprise?
A: Michael Miller said confident in full-year gross margin range of 32 - 34% despite quarter low.