Installed Building Products (IBP) Tops Q1 EPS by 3c, Beats on Revenues

Installed Building Products (NYSE: IBP) reported Q1 EPS of $0.35, $0.03 better than the analyst estimate of $0.32. Revenue for the quarter came in at $255.7 million versus the consensus estimate of $237.56 million.

First Quarter 2017 Highlights

• Net revenue increased 33.4% to $255.7 million
• Net income improved 9.5% to $6.4 million
• Adjusted EBITDA* increased 36.4% to $26.3 million
• Net income per diluted share increased 5.3% to $0.20
• Adjusted net income per diluted share* increased 34.6% to $0.35
• In January 2017, closed the acquisition of Trilok Industries, Inc., Alpha Insulation and Waterproofing, Inc., and Alpha Insulation and Waterproofing Company, a provider of waterproofing, insulation, fireproofing, and fire stopping services to commercial contractors with nine locations throughout the southern U.S., and 2016 revenues of approximately $106 million
• In January 2017, acquired Arctic Express Insulation, LLC, an insulation installer located in Corpus Christi, Texas with $1.6 million in trailing twelve month revenue
• In March 2017, acquired Atlanta, Georgia based Custom Glass Atlanta, Inc. and Atlanta Commercial Glazing, Inc. with combined 2016 revenues of $11 million

For earnings history and earnings-related data on Installed Building Products (IBP) click here.

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