Filing Flows › Installed Building Products (IBP) › Q1 2025
Installed Building Products (IBP) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Installed Building Products (IBP) reported revenue of $685M for the first quarter 2025 (Q1 2025), -1% from a year earlier and -9% from the quarter before. Operating margin was 10.2%, net earnings $45.4M (6.6% of revenue).
Installed Building Products, Q1 2025: revenue $685M (-1% year over year), operating margin 10.2%, net earnings $45.4M, operating cash flow $92.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $685M | -9% | -1% |
| Gross profit | $224M | -11% | -5% |
| Operating profit | $69.8M | -29% | -21% |
| Net earnings | $45.4M | -32% | -19% |
| Operating cash flow | $92.1M | +23% | +9% |
| Free cash flow | $71.9M | +36% | +14% |
What changed
Revenue was $684.8M in Q1 2025, down 1% year over year and down 9% from the previous quarter. Insulation was the largest line at 61% of revenue. Insulation lost $13.4M year over year (down 3%), 165% of the total change.
Gross margin was 32.7%, down 1.2 points from a year earlier. Operating profit was $69.8M, a 10.2% margin (down 2.5 points year over year). Operating expenses grew 5% against a revenue fall of 1%. Net earnings were $45.4M, down 19% year over year. The effective tax rate was 25.9%.
Operating cash flow was $92.1M (up 9% year over year), 203% of net earnings. Non-cash charges added back $16.3M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $24.5M. Capital expenditures of $20.2M left free cash flow of $71.9M.
Questions
What was Installed Building Products' revenue in the first quarter 2025?
Installed Building Products (IBP) reported revenue of $685M for the first quarter 2025 (Q1 2025), -1% from a year earlier and -9% from the quarter before.
Was Installed Building Products profitable in the first quarter 2025?
Operating profit was $69.8M (10.2% of revenue) and net earnings $45.4M.