Installed Building Products Beats Q2 Earnings Estimates
Installed Building Products (NYSE: 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. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4.50%. A quarter ago, it was expected that this residential insulation installer would post earnings of $2.23 per share when it actually produced earnings of $2.47, delivering a surprise of 10.76%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Installed Building Products, which belongs to the Zacks Building Products – Miscellaneous industry, posted revenues of $737.6 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.84%. This compares to year-ago revenues of $692.1 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Installed Building Products shares have …
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