Stock Story -
Building products installation services company Installed Building Products (NYSE:IBP) will be announcing earnings results tomorrow before the bell. Here's what to look for.
Installed Building Products beat analysts' revenue expectations by 1.4% last quarter, reporting revenues of $692.9 million, up 5.1% year on year. It was an ok quarter for the company, with EPS exceeding analysts' estimates.
Is Installed Building Products a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Installed Building Products's revenue to grow 7.6% year on year to $745 million, improving from the 2.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.88 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Installed Building Products has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 3.5% on average.
Looking at Installed Building Products's peers in the home builders segment, some have already reported their Q2 results, giving us a hint as to what we can expect. KB Home's revenues decreased 3.1% year on year, beating analysts' expectations by 3.4%, and Tri Pointe Homes reported revenues up 37.9%, topping estimates by 8.4%. KB Home traded up 2.8% following the results while Tri Pointe Homes was also up 1.7%.
Read the full analysis of KB Home's and Tri Pointe Homes's results on StockStory.
There has been positive sentiment among investors in the home builders segment, with share prices up 9.4% on average over the last month. Installed Building Products is up 35.6% during the same time and is heading into earnings with an average analyst price target of $251.8 (compared to the current share price of $269.59).
![Installed Building Products (IBP) Reports Earnings Tomorrow: What To Expect](https://d68-invdn-com.investing.com/content/pic4dbacee83e8fb1a463a71032a3c27602.jpeg)