Installed Building Products Stock Earnings Reports

Installed Building Products (IBP) reported Q1 2026 results with consolidated revenue down 4% to $661M and same-branch sales down 6% (Installation segment down 7%). New single-family residential remained the primary headwind, driven by weaker production/entry-level builder activity and adverse weather that reduced revenue by an estimated $20M. Commercial end markets were a bright spot: same-branch commercial installation sales rose ~11%, with heavy commercial growing >20% and healthy backlogs. IBP completed 4 acquisitions in Q1 (~$28M of annualized sales) and reiterated a strong M&A pipeline with an expectation to acquire at least $100M of annual revenue in 2026. Adjusted gross margin was 32.2% (within their full-year 32%–34% range) and adjusted EBITDA was $92M (13.9% margin); adjusted net income was $48M, or $1.79 per diluted share. Operating headwinds included higher depreciation, vehicle insurance, medical and liability insurance, and fuel exposure (estimated $15M–$20M incremental other COGS for the rest of the year if fuel stays elevated). Cash from operations was $102M in Q1; net debt/TTM EBITDA was ~1.2x. IBP repurchased ~91,000 shares for $25M in Q1 and declared a quarterly dividend of $0.39/share (up >5% YoY). Management reiterated confidence in full-year gross margin (32%–34%) while noting continued uncertainty from macro and industry dynamics.