Installed Building Products Forecasts 1.8% Q4 Revenue Drop After $778M Beat
Installed Building Products will deliver fourth-quarter results Thursday, following a prior quarter revenue beat of $778.2M (up 2.3% year-on-year) and strong EBITDA and adjusted operating income beats. Revenue is forecast to decline 1.8% year-on-year, with analysts maintaining estimates, while sector peers recorded Q4 revenues down 10.9% and up 1.8%.
1. Q4 Earnings Preview
Installed Building Products is scheduled to report fourth-quarter earnings Thursday before the market opens, providing investors with the latest insight into its building products installation services business.
2. Prior Quarter Results
In the previous quarter, the company posted revenues of $778.2 million, a 2.3% increase year-on-year, while surpassing consensus estimates for both EBITDA and adjusted operating income.
3. Q4 Forecast and Analyst Views
Analysts forecast a 1.8% year-on-year revenue decline for the upcoming quarter and have largely maintained their estimates, despite the company missing Wall Street revenue targets multiple times over the past two years.
4. Peer Performance and Stock Momentum
Within the home builders segment, Taylor Morrison reported a 10.9% revenue decline and Champion Homes saw a 1.8% increase in Q4; over the last month, Installed Building Products shares rose 8.2% versus a 5.7% sector average, with an average analyst price target of $263.50.