Filing Flows › Installed Building Products (IBP) › Q3 2025
Installed Building Products (IBP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Installed Building Products (IBP) reported revenue of $778M for the third quarter 2025 (Q3 2025), +2% from a year earlier and +2% from the quarter before. Operating margin was 13.7%, net earnings $74.4M (9.6% of revenue).
Installed Building Products, Q3 2025: revenue $778M (+2% year over year), operating margin 13.7%, net earnings $74.4M, operating cash flow $124M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $778M | +2% | +2% |
| Gross profit | $264M | +2% | +3% |
| Operating profit | $107M | +6% | +5% |
| Net earnings | $74.4M | +8% | +8% |
| Operating cash flow | $124M | +37% | +22% |
| Free cash flow | $105M | +40% | +36% |
What changed
Revenue was $778.2M in Q3 2025, up 2% year over year and up 2% from the previous quarter. Insulation was the largest line at 57% of revenue. Other added $10.2M year over year (up 22%), 58% of the total change. Insulation declined 2%.
Gross margin was 34.0%, up 0.2 points from a year earlier. Operating profit was $106.8M, a 13.7% margin (up 0.4 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 13% margin then. Operating expenses grew 1% against revenue growth of 2%. Net earnings were $74.4M, up 8% year over year. The effective tax rate was 25.8%.
Operating cash flow was $124.0M (up 22% year over year), 167% of net earnings. Non-cash charges added back $16.5M of depreciation and amortization and $5.3M of share-based compensation. Working capital and other items added $27.8M. Capital expenditures of $19.2M left free cash flow of $104.8M.
Questions
What was Installed Building Products' revenue in the third quarter 2025?
Installed Building Products (IBP) reported revenue of $778M for the third quarter 2025 (Q3 2025), +2% from a year earlier and +2% from the quarter before.
Was Installed Building Products profitable in the third quarter 2025?
Operating profit was $107M (13.7% of revenue) and net earnings $74.4M.