finance.yahoo.com

IBP Posts Record Revenue as Profit and Margins Slip, Dividend Raised

Installed Building Products logoInstalled Building Products
Sig2.40Sen-0.90Env0.00Soc0.00Gov+1.30

Installed Building Products (IBP) reported second-quarter revenue of $777.8 million, a company record, but net income fell to $64.9 million and gross margin narrowed to 33.3% from 34.2%. Management attributed the margin squeeze to a less profitable Other segment mix. Despite weaker residential and job volume trends, the board raised its dividend and repurchased about 365,000 shares.

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