IBP posts record Q3 net income $68M ($2.40 EPS); adjusted EPS $2.79; declares $0.33 dividend

Installed Building Products, Inc.

2023-Q3 EPS reported $6.32 revenue$2,057,874,000

Net revenue $706.5M (-1.8% YoY); net income $68.0M (+11.5%); record net income margin 9.6%.
Adjusted EBITDA record $130.5M, margin 18.5% (up from 16.7%).
Quarterly dividend $0.33/share (+5% YoY), payable Dec 31 to holders of record Dec 15.
COO Jay Elliott retiring Dec 31; Brad A. Wheeler named successor effective Jan 1, 2024.
YTD acquisitions $58M annual revenue; expects to fall short of $100M goal.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Installed Building Products, Inc. reported the third quarter ended September 30, 2023 results: revenue $706.5 million, net income $68.0 million, EPS $2.40 per diluted share.

Period: the third quarter ended September 30, 2023
Revenue: $706.5 million
Net income: $68.0 million
EPS: $2.40 per diluted share
Result: reported results

Exact text from the filing

today announced results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights (Comparisons are to Prior Year Period) • Net revenue decreased 1.8% to $706.5 million ◦ Installation revenue decreased 1.7% to $661.2 million, as softer single-family sales were partially offset by multi-family and commercial sales growth, including incremental

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Source: SEC EDGAR

accession 0001580905-23-000050

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