Filing Flows › Installed Building Products (IBP) › Q3 2026 › vs Q3 2025
Installed Building Products (IBP) Q3 2026 vs Q3 2025 (year over year)
Installed Building Products's revenue rose $30.2M (+4%) from $778M in Q3 2025 to $808M in Q3 2026. The biggest changes: Net revenue, Installation +$24.3M (+3%); Waterproofing +$7.1M (+16%); Window blinds −$1.2M (-6%). Gross margin 31.8% against 34.0% (-2.1 pts).
Installed Building Products, Q3 2026: revenue $808M (+4% year over year), operating margin 11.3%, net earnings $59.4M, operating cash flow $74.8M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 31.8% | 34.0% | -2.1 pts |
| Operating margin | 11.3% | 13.7% | -2.4 pts |
| Net margin | 7.3% | 9.6% | -2.2 pts |
| Free cash flow margin | 7.2% | 13.5% | -6.3 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Insulation | $435M | $440M | −$5.7M | -1% |
| Other | $68.0M | $57.1M | $10.9M | +19% |
| Shower doors, shelving and mirrors | $58.5M | $57.3M | $1.2M | +2% |
| Other building products | $53.0M | $48.4M | $4.6M | +10% |
| Garage doors | $45.4M | $44.5M | $900K | +2% |
| Rain gutters | $40.9M | $35.2M | $5.7M | +16% |
| Fireproofing/firestopping | $38.0M | $31.3M | $6.7M | +21% |
| Net revenue, Installation | $738M | $714M | $24.3M | +3% |
| Waterproofing | $50.7M | $43.6M | $7.1M | +16% |
| Window blinds | $19.3M | $20.5M | −$1.2M | -6% |
| Revenue | $808M | $778M | $30.2M | +4% |
| Gross profit | $257M | $264M | −$6.8M | -3% |
| Cost of revenue | $551M | $514M | $37.0M | +7% |
| Operating profit | $91.7M | $107M | −$15.1M | -14% |
| Operating expenses | $166M | $157M | $8.3M | +5% |
| Pre-tax earnings | $81.2M | $100M | −$19.1M | -19% |
| Other expense, net | $10.5M | $6.5M | $4.0M | +62% |
| Sales & marketing | $37.3M | $36.2M | $1.1M | +3% |
| General & admin | $118M | $111M | $6.5M | +6% |
| Other operating costs | $10.8M | $10.1M | $700K | +7% |
| Net earnings | $59.4M | $74.4M | −$15.0M | -20% |
| Income tax | $21.8M | $25.9M | −$4.1M | -16% |
| Depreciation & amortization | $18.3M | $16.5M | $1.8M | +11% |
| Share-based compensation | $5.6M | $5.3M | $300K | +6% |
| Working capital & other | $8.5M | −$27.8M | $36.3M | — |
| Operating cash flow | $74.8M | $124M | −$49.2M | -40% |
| Free cash flow (OCF − capex) | $58.3M | $105M | −$46.5M | -44% |
| Capital expenditures | $16.5M | $19.2M | −$2.7M | -14% |
Questions
How much did Installed Building Products's revenue grow year over year in Q3 2026?
Installed Building Products's revenue rose $30.2M (+4%) from $778M in Q3 2025 to $808M in Q3 2026.
What drove Installed Building Products's revenue change in Q3 2026?
Net revenue, Installation +$24.3M (+3%); Waterproofing +$7.1M (+16%); Window blinds −$1.2M (-6%).