Installed Building Prods Q3 Adj. EPS $2.79 Beats $2.38 Estimate, Sales $706.47M Miss $707.74M Estimate
Portfolio Pulse from Benzinga Newsdesk
Installed Building Prods (NYSE:IBP) reported Q3 adjusted earnings of $2.79 per share, beating the analyst consensus estimate of $2.38 by 17.23%. This is an 11.16% increase from the same period last year. However, the company's quarterly sales of $706.47 million missed the analyst consensus estimate of $707.74 million by 0.18%, a 1.76% decrease from last year.
November 08, 2023 | 12:38 pm
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NEUTRAL IMPACT
Installed Building Prods reported better than expected Q3 earnings but missed on sales. This mixed result could lead to volatility in the stock's price.
While the company beat earnings estimates, which is generally positive for the stock price, it missed on sales, which is generally negative. These mixed results could lead to uncertainty and volatility in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100