IBP Stock Recent News

IBP expands its footprint across Minnesota and the upper Midwest with the acquisition of Insulation Supplies.

COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the acquisition of Wholesale Insulation Supply, Inc. doing business as Insulation Supplies. Insulation Supplies was established in 1986 and is headquartered in New Hope, Minnesota, near Minneapolis. Insulation Supplies generates over $22 million of annual revenue throughout Minnesota and the uppe.

I downgraded my rating from buy to hold. IBP reported 7% revenue growth, with strong single-family sales offset by declining commercial sales. Housing starts trend supports bullish outlook for IBP, but multi-family volume growth may pose a y/y growth headwind.

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 Susan Maklari - Goldman Sachs Keith Hughes - Truist Securities Operator Greetings, and welcome to Installed Building Products Fiscal 2024 Second Quarter Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

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.

Installed Building Products (IBP) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Installed Building (IBP) acquires Thrice Energy Solutions and Gutter Pro, strengthening regional footprints.

COLUMBUS, Ohio--(BUSINESS WIRE)--Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the acquisition of Thrice Energy Solutions, LLC (“Thrice”). Located in Oklahoma City, Oklahoma, Thrice has a new residential and commercial end market presence throughout Oklahoma and Texas primarily installing fiberglass and spray foam insulation. On June 3, IBP completed the acquisition of Gutt.

Installed Building's (IBP) first-quarter results reflect improvements in the single-family end market and healthy sales in the multi-family end markets.

Installed Building Products (IBP) came out with quarterly earnings of $2.47 per share, beating the Zacks Consensus Estimate of $2.23 per share. This compares to earnings of $2.15 per share a year ago.