Installed Building Products Inc reports results for the quarter ended in March - Earnings Summary

Installed Building Products,

09/05/2024 14:53

* Installed Building Products Inc  IBP.N  reported quarterly
adjusted earnings of $2.47​​ per share for the quarter ended in
March, higher than the same quarter last year, when the company
reported EPS of $2.15.  The mean expectation of ten analysts for
the quarter was for earnings of $2.32 per share. Wall Street
expected results to range from $1.99  to $2.64 per share.
    * Revenue rose 5.1% to $692.90 million from a year ago;
analysts
expected $686.06 million. 
    * Installed Building Products Inc's reported EPS for the
quarter
was $1.97​.
    * The company reported quarterly net income of $55.9
million.
    * Installed Building Products Inc shares had fallen by 10.3%
this
quarter and gained 26.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is  "hold."

Wall Street's median 12-month price target for Installed
Building Products Inc is $250.00 
This summary was machine generated from LSEG data May 9 at 01:53
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      2.32           2.47           Beat
 Dec. 31 2023      2.45           2.72           Beat
 Sep. 30 2023      2.38           2.79           Beat
 Jun. 30 2023      2.25           2.62           Beat