Installed Building Products (IBP) Tops Q2 EPS by 4c, Beats on Revenues

Installed Building Products (NYSE: IBP) reported Q2 EPS of $0.59, $0.04 better than the analyst estimate of $0.55. Revenue for the quarter came in at $282.2 million versus the consensus estimate of $275.34 million.

Second Quarter 2017 Highlights

• Net revenue increased 33.2% to a record $282.2 million
• Net income increased 19.8% to a record $12.0 million
• Adjusted EBITDA* increased 49.6% to a record $39.2 million
• Net income per diluted share increased 18.8% to $0.38
• Adjusted net income per diluted share* increased 47.5% to a record $0.59
• In April 2017, refinanced borrowings and closed a $300 million Term Loan B facility and $100 million ABL Revolving Credit facility
• In April 2017, acquired Minnesota based Horizon Electric Company with 2016 revenues of $1.2 million
• In May 2017, acquired Florida based Legacy, & Glass & Supply, Inc., with 2016 revenues of $5.4 million
• In June 2017, acquired South Carolina based Columbia Shelving and Mirror Inc. and Charleston Shelving & Mirror Inc. with 2016 revenues of $11.0 million

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

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