Installed Building Products reported second quarter 2026 net revenue of $777.8 million, an increase of 2.3% year-over-year, driven by acquisitions and strength in its commercial and 'Other' segments. Net income was $64.9 million, or $2.43 per diluted share, while adjusted net income came in at $77.8 million, or $2.91 per diluted share.
Key Highlights
- Revenue growth was driven by a 50.4% increase in the 'Other' segment (manufacturing/distribution) to $67.1 million and contributions from acquisitions, which offset a 0.7% decline in Installation revenue.
- Within the core Installation segment, same-branch sales showed diverging trends as residential sales fell 6.1% while commercial sales grew 10.4% year-over-year.
- Adjusted EBITDA declined 2.3% to $130.9 million, with the corresponding margin contracting to 16.9% from 17.6% a year ago, attributed to a higher mix of lower-margin Other segment revenue and increased fuel costs.
- The company repurchased approximately 365,000 shares for $76.2 million during the quarter and increased its third-quarter dividend by over 5% year-over-year to $0.39 per share.