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Installed Building Products reports weak performance amid housing market slump and declining profitability

Zacks +1 · ·by G4L

IBP
IBP Installed Building Products Inc
$209.54 -1.37%
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CRH -0.62%
  1. 1Installed Building Products ranks in the bottom 13% of the Zacks Building Products-Miscellaneous industry among more than 240 Zacks industries.
  2. 2IBP's adjusted earnings per share (EPS) of $2.76 for the third quarter recorded a 13% decline in EPS compared to the same period last year.
  3. 3Management stated that housing affordability and weak consumer confidence remain obstacles to single-family home construction.

So what's the key point?

Installed Building Products' third-quarter earnings per share fell 13% compared to last year. This means the company's profits worsened as building homes became more difficult.

Source Zacks +1 · View original ↗

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