US45780R1014 - Common Stock
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the home builders industry, including Installed Building Products (NYSE:IBP) and its peers.
Building products installation services company Installed Building Products (NYSE:IBP) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 7.7% year on year to $760.6 million. Its non-GAAP profit of $2.85 per share was 4.4% below analysts’ consensus estimates.
Building products installation services company Installed Building Products (NYSE:IBP) will be reporting results tomorrow morning. Here’s what investors should know.
Let’s dig into the relative performance of Installed Building Products (NYSE:IBP) and its peers as we unravel the now-completed Q2 home builders earnings season.
Big earnings winners and losers continued.
IBP stock results show that Installed Building Prods beat analyst estimates for earnings per share and beat on revenue for the first quarter of 2024.
Homebuilder stocks face sharp declines as the SPDR Homebuilders ETF (NYSE:XHB) drops 1.8% in Tuesday’s session, hitting its lowest level since Feb. 26, 2024, amid negative economic data. From the start of the month, this performance gauge has fallen approximately 10%, marking the first market correction since September 2023 after a significant 60% rally in the six months leading up to late March. Tuesday’s worst performers among U.S. homebuilder stocks were Installed Building Products, Inc. (NYS