Installed Building Products, Inc. (IBP) reported a net revenue of $760.3 million for the second quarter of 2025, reflecting a 3.1% increase from $737.6 million in the same period of 2024. The company's gross profit also rose to $259.9 million, up 3.4% from $251.4 million year-over-year. The growth in revenue was primarily driven by a 10% increase in sales within the commercial end market and contributions from recent acquisitions, although this was partially offset by a decline in installation job volume. For the first half of 2025, net revenue reached $1.445 billion, a slight increase from $1.431 billion in the prior year.
In terms of profitability, IBP's operating income for the second quarter was $101 million, compared to $94.8 million in the same quarter of 2024. The company reported a net income of $69 million, or $2.52 per diluted share, compared to $65.2 million, or $2.30 per diluted share, in the previous year. The increase in net income was attributed to improved selling prices and product mix, as well as enhanced labor costs, which allowed gross profit to outpace sales growth.
Operationally, IBP continues to expand its footprint, operating over 250 branch locations across the continental United States. The company completed two business combinations and two bolt-on acquisitions during the first half of 2025, contributing to its strategic growth initiatives. As of June 30, 2025, IBP had cash and cash equivalents of $305.2 million and had not drawn on its revolving line of credit, indicating a strong liquidity position. The company returned $59.3 million to shareholders through dividends and stock repurchases during the second quarter.
The company’s total liabilities stood at $1.356 billion as of June 30, 2025, with long-term debt remaining relatively stable at $842.8 million. IBP's effective tax rate for the second quarter was 26.1%, up from 24.8% in the same quarter of 2024, influenced by non-deductible expenses. Looking ahead, IBP anticipates continued challenges in the housing market due to elevated mortgage rates and inflation, but remains optimistic about long-term growth prospects driven by its diversified product offerings and strategic acquisitions. The company expects to navigate these challenges while maintaining profitability and shareholder returns.
About Installed Building Products, Inc.
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