Filing Flows › Installed Building Products (IBP) › Q2 2026 › vs Q2 2025
Installed Building Products (IBP) Q2 2026 vs Q2 2025 (year over year)
Installed Building Products's revenue rose $17.5M (+2%) from $760M in Q2 2025 to $778M in Q2 2026. The biggest changes: Net revenue, Installation +$16.3M (+2%); Other building products +$3.1M (+7%); Window blinds −$1.9M (-9%). Gross margin 33.3% against 34.2% (-0.9 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 33.3% | 34.2% | -0.9 pts |
| Operating margin | 12.2% | 13.3% | -1.1 pts |
| Net margin | 8.3% | 9.1% | -0.7 pts |
| Free cash flow margin | 6.7% | 9.8% | -3.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Insulation | $430M | $446M | −$16.0M | -4% |
| Other | $67.1M | $44.7M | $22.4M | +50% |
| Shower doors, shelving and mirrors | $55.8M | $56.9M | −$1.1M | -2% |
| Waterproofing | $45.3M | $40.9M | $4.4M | +11% |
| Garage doors | $43.7M | $44.2M | −$500K | -1% |
| Fireproofing/firestopping | $33.4M | $27.2M | $6.2M | +23% |
| Rain gutters | $32.8M | $31.9M | $900K | +3% |
| Net revenue, Installation | $709M | $692M | $16.3M | +2% |
| Other building products | $50.3M | $47.2M | $3.1M | +7% |
| Window blinds | $18.9M | $20.8M | −$1.9M | -9% |
| Revenue | $778M | $760M | $17.5M | +2% |
| Gross profit | $259M | $260M | −$1.0M | -0.4% |
| Cost of revenue | $519M | $500M | $18.5M | +4% |
| Operating profit | $94.6M | $101M | −$6.4M | -6% |
| Operating expenses | $164M | $159M | $5.4M | +3% |
| Pre-tax earnings | $85.1M | $93.4M | −$8.3M | -9% |
| Other expense, net | $9.5M | $7.6M | $1.9M | +25% |
| Sales & marketing | $36.6M | $35.7M | $900K | +3% |
| General & admin | $117M | $113M | $4.1M | +4% |
| Other operating costs | $10.5M | $10.1M | $400K | +4% |
| Net earnings | $64.9M | $69.0M | −$4.1M | -6% |
| Income tax | $20.2M | $24.4M | −$4.2M | -17% |
| Depreciation & amortization | $17.8M | $16.4M | $1.4M | +9% |
| Share-based compensation | $6.2M | $5.3M | $900K | +17% |
| Working capital & other | $20.1M | $300K | $19.8M | 67× |
| Operating cash flow | $68.8M | $90.4M | −$21.6M | -24% |
| Free cash flow (OCF − capex) | $51.9M | $74.8M | −$22.9M | -31% |
| Capital expenditures | $16.9M | $15.6M | $1.3M | +8% |
Questions
How much did Installed Building Products's revenue grow year over year in Q2 2026?
Installed Building Products's revenue rose $17.5M (+2%) from $760M in Q2 2025 to $778M in Q2 2026.
What drove Installed Building Products's revenue change in Q2 2026?
Net revenue, Installation +$16.3M (+2%); Other building products +$3.1M (+7%); Window blinds −$1.9M (-9%).