Installed Building Products Inc reports results for the quarter ended June 30 - Earnings Summary

• Installed Building Products Inc IBP reported quarterly adjusted earnings of $2.95​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $3.02. The mean expectation of eleven analysts for the quarter was for earnings of $2.39 per share. Wall Street expected results to range from $2.21 to $2.64 per share.

• Revenue rose 3.1% to $760.30 million from a year ago; analysts expected $710.70 million.

• Installed Building Products Inc's reported EPS for the quarter was $2.52​.

• The company reported quarterly net income of $69 million.

• Installed Building Products Inc shares had risen by 17.5% this quarter and gained 20.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.9% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy," 7 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the construction & engineering peer group is "buy."

• Wall Street's median 12-month price target for Installed Building Products Inc is $183.00, about 15.7% below its last closing price of $211.82

This summary was machine generated from LSEG data August 7 at 05:11 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)