Filing Flows › Installed Building Products (IBP) › Q2 2026 › vs Q1 2026
Installed Building Products (IBP) Q2 2026 vs Q1 2026 (quarter over quarter)
Installed Building Products's revenue rose $117M (+18%) from $660M in Q1 2026 to $778M in Q2 2026. The biggest changes: Net revenue, Installation +$103M (+17%); Other building products +$11.7M (+30%); Window blinds +$2.8M (+17%). Gross margin 33.3% against 32.1% (+1.1 pts).
Installed Building Products, Q2 2026: revenue $778M (+2% year over year), operating margin 12.2%, net earnings $64.9M, operating cash flow $68.8M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 33.3% | 32.1% | +1.1 pts |
| Operating margin | 12.2% | 8.7% | +3.4 pts |
| Net margin | 8.3% | 5.3% | +3.1 pts |
| Free cash flow margin | 6.7% | 13.0% | -6.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Insulation | $430M | $376M | $54.0M | +14% |
| Other | $67.1M | $50.7M | $16.4M | +32% |
| Shower doors, shelving and mirrors | $55.8M | $47.5M | $8.3M | +17% |
| Waterproofing | $45.3M | $38.3M | $7.0M | +18% |
| Garage doors | $43.7M | $38.2M | $5.5M | +14% |
| Fireproofing/firestopping | $33.4M | $29.5M | $3.9M | +13% |
| Rain gutters | $32.8M | $25.1M | $7.7M | +31% |
| Net revenue, Installation | $709M | $606M | $103M | +17% |
| Other building products | $50.3M | $38.6M | $11.7M | +30% |
| Window blinds | $18.9M | $16.1M | $2.8M | +17% |
| Revenue | $778M | $660M | $117M | +18% |
| Gross profit | $259M | $212M | $46.6M | +22% |
| Cost of revenue | $519M | $448M | $70.7M | +16% |
| Operating profit | $94.6M | $57.6M | $37.0M | +64% |
| Operating expenses | $164M | $155M | $9.6M | +6% |
| Pre-tax earnings | $85.1M | $47.1M | $38.0M | +81% |
| Other expense, net | $9.5M | $10.5M | −$1.0M | -10% |
| Sales & marketing | $36.6M | $34.0M | $2.6M | +8% |
| General & admin | $117M | $110M | $7.0M | +6% |
| Other operating costs | $10.5M | $10.5M | $0 | 0% |
| Net earnings | $64.9M | $34.8M | $30.1M | +86% |
| Income tax | $20.2M | $12.3M | $7.9M | +64% |
| Depreciation & amortization | $17.8M | $17.5M | $300K | +2% |
| Share-based compensation | $6.2M | $5.7M | $500K | +9% |
| Working capital & other | $20.1M | −$44.3M | $64.4M | — |
| Operating cash flow | $68.8M | $102M | −$33.5M | -33% |
| Free cash flow (OCF − capex) | $51.9M | $85.7M | −$33.8M | -39% |
| Capital expenditures | $16.9M | $16.6M | $300K | +2% |
Questions
How much did Installed Building Products's revenue grow quarter over quarter in Q2 2026?
Installed Building Products's revenue rose $117M (+18%) from $660M in Q1 2026 to $778M in Q2 2026.
What drove Installed Building Products's revenue change in Q2 2026?
Net revenue, Installation +$103M (+17%); Other building products +$11.7M (+30%); Window blinds +$2.8M (+17%).