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NEW YORK - Installed Building Products Inc. (NYSE:IBP) reported better-than-expected third quarter results on Wednesday, with revenue reaching an all-time record of $778.2 million, exceeding analyst estimates of $752.5 million.
The company’s shares rose 0.89% in pre-market trading following the announcement.
The Columbus, Ohio-based installer of insulation and complementary building products posted adjusted earnings of $3.18 per share for the quarter ended September 30, significantly beating the analyst consensus of $2.73 per share. Net income increased 8.5% to a record $74.4 million, or $2.74 per diluted share.
Total revenue grew 2.3% YoY, with installation revenue increasing 1.0% to $721.1 million. The company’s other revenue, which includes manufacturing and distribution operations, jumped 21.7% to $57.1 million from $46.9 million in the prior year period.
"With another quarter of record financial performance, so far, 2025 has been an encouraging year for IBP," said Jeff Edwards, Chairman and Chief Executive Officer. "Our branches continue to execute at a high level, delivering reliable installation services to homebuilders of all sizes."
The company’s adjusted EBITDA increased 5.7% to a record $139.9 million, representing an adjusted EBITDA margin of 18.0%, up from 17.4% in the same period last year.
IBP’s commercial same branch sales grew 11.7% during the quarter, offsetting a 2.8% decline in residential same branch sales. The company achieved a 1.5% increase in price/mix, which was offset by a 4.8% decrease in job volumes compared to the third quarter last year.
The company’s board declared a fourth quarter dividend of $0.37 per share, payable on December 31, 2025, representing a 6% increase from last year’s fourth quarter dividend payment.
During the quarter, IBP repurchased 200,000 shares of its common stock at a total cost of $51.5 million. The company had $333.3 million in cash and cash equivalents at the end of the quarter.
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