Installed Building Products, Inc. · NYSE:IBP
Installed Building Products — Q1 2026 Earnings Presentation
28 slides from Installed Building Products's earnings presentation, May 7, 2026
Slide 1: Investor Presentation Q1 2026
NYSE: IBP Q1 2026 | MAY 7, 2026 INVESTOR PRESENTATION
Slide 2: Safe Harbor
Safe Harbor This presentation contains "forward-looking statements" as defined under U.S. federal securities laws. Forward -looking statements are generally identified by the use of the words "will," "may," "believes," "expects," "forecast," "intends," "anticipates," "projects," "outlook," "target,"
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes the following non-GAAP financial measures: (1) EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, (2) Adjusted Net Income and Adjusted Net Profit Margins (3) Adjusted Net Income per diluted share, (4) Adjusted Selling Administrative (S&A), (5)
Slide 4: Company Overview
COMPANY OVERVIEW
Slide 5: National Scale
National Scale STRONG LOCAL PRESENCE + NATIONAL SCALE = HIGH QUALITY SERVICE WITH OPERATING LEVERAGE • One of the nation’s largest (1) new residential insulation installers • Installer of diversified mix of complementary building products for residential and commercial projects • National platform o
Slide 6: Benefits of a Unique Value Chain Structure
Benefits of a Unique Value Chain Structure SCALE ALLOWS IBP TO BE THE DIRECT LINK BETWEEN MANUFACTURERS AND BUILDERS, AN EFFICIENT VALUE CHAIN UNIQUE STREAMLINED VALUE CHAIN Purchasing, Logistics, Installation Building Products Manufacturer Homebuilder TYPICAL MULTI-STEP VALUE CHAIN Finished Home Wh
Slide 7: Increasing Product & End Market Diversification
Increasing Product & End Market Diversification COMPLEMENTARY PRODUCTS, NEW MULTI-FAMILY, AND COMMERCIAL EXPANSION OFFERS REVENUE DIVERSITY Net Revenue Contribution by End Product % Insulation Shower Doors, Shelving, & Mirrors 2015 78 5 6 5 6 Garage Doors Waterproofing Rain Gutters Fireproofing 2025
Slide 8: Market Share and Competitive Landscape
Market Share and Competitive Landscape FRAGMENTED INSULATION AND COMPLEMENTARY PRODUCT MARKETS SUPPORT CONSOLIDATION OPPORTUNITIES Insulation Installation Complementary Product Installation < 10% share for each complementary product IBP IBP National Competition National, Regional, & Local Competitio
Slide 9: Diversification Growth Opportunity
Diversification Growth Opportunity SALES PER RESIDENTIAL PERMIT >70% GREATER IN MSAs WITH MORE DIVERSE END PRODUCT MIX QUARTILE 1 QUARTILE 4 More Concentrated More Diverse Insulation Sales per New Sales Mix Sales Mix Residential Permit Complementary Product Sales per New Residential Permit 11% SALES
Slide 10: Diversification Growth Opportunity
Diversification Growth Opportunity SALES PER RESIDENTIAL PERMIT 25% GREATER IN MSAs WITH MORE DIVERSE END MARKET MIX QUARTILE 1 QUARTILE 4 New SF Sales per New SF Permit More Concentrated More Diverse Sales Mix Sales Mix New MF Sales per New MF Permit Comm, R&R Sales per New Residential Permit 7% 9%
Slide 11: Business Model Generates Substantial Cash Flow
Business Model Generates Substantial Cash Flow CAPITAL EXPENDITURES 2-3% OF REVENUE, ACQUISITIONS TYPICALLY FUNDED WITH OPERATING CASH Net Income Free Cash Flow * Free Cash Flow / EBITDA * $400 80% * Free cash flow is a 65% non-GAAP measure 60% 61% calculated as net cash $300 60% 53% 52% provided by
Slide 12: Growth Focused Capital Allocation Strategy
Growth Focused Capital Allocation Strategy ACQUISITIONS DRIVE ATTRACTIVE RETURNS, DIVIDEND OFFERS DIFFERENTIATED INVESTMENT ATTRIBUTE CAPITAL ALLOCATION PRIORITIES 5-YEAR CAPITAL ALLOCATION 1 Acquisitions • Contribute to profitability and revenue diversification $333 25% 2 Quarterly Dividends • $0.3
Slide 13: Successful Acquisition Strategy
Successful Acquisition Strategy KEYS TO OUR LONG TRACK RECORD OF VALUE-CREATING ACQUISITIONS LEADERSHIP DECISION DISCIPLINE AUTONOMY & SCALE BENEFITS FINANCIAL OUTCOMES • Maintain local trade name, physical location, CEO and branch personnel • Branch management keep strategic decision- COMPOUNDING C
Slide 14: Annual Long-Term Operating Framework
Annual Long-Term Operating Framework COMPELLING FINANCIAL MODEL CREATES LONG-TERM VALUE Acquisition Growth 2021 - 2025 Long-Term Outlook Assumptions Same Branch > U.S. Residential Target > $100 MM of (1%) - 25% Revenue Growth Completions Growth acquired revenue annually Material purchasing power + A
Slide 15: Financial Performance
FINANCIAL PERFORMANCE
Slide 16: Summary Financial Results
Summary Financial Results Twelve months ended December 31, ($ in millions) 2022 2023 2024 2025 LTM Net revenue $ 2,669.8 $ 2,778.6 $ 2,941.3 $ 2,970.8 $ 2,946.5 Net revenue growth (1) 35.6% 4.1% 5.9% 1.0% 0.5% Same branch sales growth 24.6% 0.2% 3.5% (1.3)% (1.7)% Adjusted cost of sales (2) $ 1,841.
Slide 17: Multi-Year Financial Improvement
Multi-Year Financial Improvement STRATEGIC EXECUTION, FAVORABLE INDUSTRY STRUCTURE SUPPORT RESILIENT MARGINS & STABLE WORKING CAPITAL Adjusted Gross Profit (1) Adjusted Selling & Administrative (2) $544 $559 $559 $996 $1,010 $999 $499 $932 % of net revenues % of net revenue $828 $436 33.5% 33.8% 34.
Slide 18: Conservative Capital Structure
Conservative Capital Structure STRONG LIQUIDITY AND CREDIT METRICS PROVIDE FLEXIBILITY AND SUPPORT THROUGHOUT CYCLES (1) Current Ratio = Current Ratio (1) Adjusted EBITDA (2) / Interest Expense Current Assets / Current Liabilities. (2) Adjusted EBITDA is 4.0x 20.0x a non-GAAP 3.3 16.4 3.1 2.9 3.0 15
Slide 19: Debt Maturities and Credit Ratings
Debt Maturities and Credit Ratings MORE THAN 4 YEARS UNTIL SUBSTANTIAL DEBT REPAYMENT REQUIRED Matures Matures $600 3/28/2031 2/01/2034 Ba1 / BBB- / BBB- Ba2 / BB- / BB+ $500 Senior Unsecured Notes $400 Term Loan B $300 $200 $100 $— 2026 2027 2028 2029 2030 2031 2032 2033 2034 Note: All $ figures in
Slide 20: ESG Highlights
ESG HIGHLIGHTS
Slide 21: Environmental, Social & Governance
Environmental, Social & Governance OUR BUSINESS IS COMMITTED TO MAKING AN IMPACT WITH OUR PRODUCTS, OUR PEOPLE, AND COMMUNITIES WE SERVE Environmental • Committed to sustainability, insulation is the best way to prevent energy waste • Reducing our carbon footprint Social Governance & Responsibility
Slide 22: Appendix
APPENDIX
Slide 23: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation Twelve months ended December 31, ($ in millions) 2022 2023 2024 2025 LTM Net income, as reported $ 223.4 $ 243.7 $ 256.6 $ 265.4 $ 254.8 Interest expense 41.6 37.0 36.9 31.7 33.7 Provision for income tax 79.9 89.4 89.8 91.6 88.0 Depreciation and amortization
Slide 24: Adjusted Selling & Administrative Expense
Adjusted Selling & Administrative Expense Twelve months ended December 31, ($ in millions) 2022 2023 2024 2025 LTM Selling & Administrative expense $ 438.6 $ 517.1 $ 564.6 $ 581.8 $ 582.2 Share-based compensation expense 13.2 15.0 18.2 20.4 20.2 Acquisition related expenses 3.0 1.9 2.2 2.5 3.0 Gains
Slide 25: Net Income and Adjusted Net Income Reconciliation
Net Income and Adjusted Net Income Reconciliation Twelve months ended December 31, ($ in millions) 2022 2023 2024 2025 LTM Net income, as reported $ 223.4 $ 243.7 $ 256.6 $ 265.4 $ 254.8 Adjustments for adjusted net income Share-based compensation expense 13.8 15.9 19.4 21.5 21.3 Acquisition related
Slide 26: Adjusted Cost of Sales and Gross Profit Reconciliation
Adjusted Cost of Sales and Gross Profit Reconciliation Twelve months ended December 31, ($ in millions) 2022 2023 2024 2025 LTM Net revenue $ 2,669.8 $ 2,778.6 $ 2,941.3 $ 2,970.8 $ 2,946.5 Cost of sales $ 1,842.1 $ 1,847.9 $ 1,946.8 $ 1,961.5 $ 1,948.6 Adjustments to cost of sales (1) 0.6 0.9 1.1 1
Slide 27: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Twelve months ended December 31, ($ in millions) 2022 2023 2024 2025 LTM Net cash provided by operating activities $ 277.9 $ 340.2 $ 340.0 $ 371.4 $ 381.6 Purchases of property and equipment (45.6) (61.6) (88.6) (70.6) (67.0) Free cash flow $ 232.3 $ 278.6 $ 251.4 $ 300
Slide 28: Investor Relations
INVESTOR RELATIONS 614-221-9944 investorrelations@installed.net
Installed Building Products — Q1 2026 Earnings Presentation on 6ix