Installed Building Prods Q2 2024 Adj. EPS $2.84 Misses $2.88 Estimate, Sales $737.600M Miss $745.498M Estimate
Portfolio Pulse from Benzinga Newsdesk
Installed Building Products (NYSE: IBP) reported Q2 2024 adjusted EPS of $2.84, missing the analyst estimate of $2.88. Sales were $737.6M, also missing the $745.498M estimate. Despite the misses, EPS increased by 8.4% and sales by 6.57% year-over-year.
August 01, 2024 | 11:31 am
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Installed Building Products (NYSE: IBP) reported Q2 2024 adjusted EPS of $2.84, missing the analyst estimate of $2.88. Sales were $737.6M, also missing the $745.498M estimate. Despite the misses, EPS increased by 8.4% and sales by 6.57% year-over-year.
The earnings and sales misses are likely to have a negative short-term impact on IBP's stock price, despite the year-over-year growth in EPS and sales. Investors often react negatively to missed estimates.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100