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Joe Ahlersmeyer

Research Analyst at Truist Securities

Joe Ahlersmeyer is currently Vice President of Investor Relations at James Hardie Industries, following an extensive research and analyst career covering building materials and construction sectors. He has previously held equity research analyst roles at Deutsche Bank Securities and Evercore Group, where he covered companies including James Hardie, AZEK, and other major building products manufacturers, and has also held corporate leadership positions at Coca-Cola Bottling and Robert Bosch Corp. Ahlersmeyer is recognized for his insightful industry analysis and is registered with FINRA, holding multiple securities licenses. He began his financial analyst career in the early 2010s and joined James Hardie in 2024 after building a significant track record at leading Wall Street firms.

Joe Ahlersmeyer's questions to Installed Building Products (IBP) leadership

Joe Ahlersmeyer's questions to Installed Building Products (IBP) leadership • Q2 2025

Question

Joe Ahlersmeyer, on for Keith Hughes, asked if there were any signs of recovery in the light commercial market. He also sought confirmation on the timing for when the recent uptick in multifamily starts would begin to positively impact financial results, questioning if 2026 was the correct timeframe.

Answer

EVP, CFO & Director Michael Miller provided a direct answer, stating 'no,' the light commercial business continues to be weak and is expected to remain so through 2025. He confirmed that the positive impact from the multifamily recovery is primarily a '2026 story,' although a minor benefit could emerge late in 2025. He reiterated that bidding activity and backlog growth in multifamily are very encouraging.

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