Building products installation services company Installed Building Products (NYSE: IBP) will be reporting results this Wednesday before market open. Here’s what you need to know.
Installed Building Products beat analysts’ revenue expectations by 6.7% last quarter, reporting revenues of $760.3 million, up 3.1% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Installed Building Products a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Installed Building Products’s revenue to decline 1.6% year on year to $748.5 million, a reversal from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.76 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Installed Building Products has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Installed Building Products’s peers in the home builders segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Taylor Morrison Home’s revenues decreased 1.2% year on year, beating analysts’ expectations by 3.4%, and Tri Pointe Homes reported a revenue decline of 25.3%, topping estimates by 15%. Taylor Morrison Home traded down 2.4% following the results while Tri Pointe Homes’s stock price was unchanged.
Read our full analysis of Taylor Morrison Home’s results here and Tri Pointe Homes’s results here.
Investors in the home builders segment have had steady hands going into earnings, with share prices flat over the last month. Installed Building Products’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $237.34 (compared to the current share price of $240.09).
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