Installed Building Products (IBP) Reports In-Line Q1 EPS, Beats on Revenues

Installed Building Products (NYSE: IBP) reported Q1 EPS of $0.45, in-line with the analyst estimate of $0.45. Revenue for the quarter came in at $301.7 million versus the consensus estimate of $297.77 million.

First Quarter 2018 Highlights

• Net revenue increased 18.0% to $301.7 million
• Net income was $6.4 million
• Adjusted EBITDA* increased 19.4% to $31.4 million
• Net income per diluted share was $0.20
• Adjusted net income per diluted share* increased 28.6% to $0.45
• Purchased 413 thousand shares of common stock for approximately $24.6 million
• In January 2018, acquired Rocket Insulation & Coatings Inc., an insulation installer in New York with annual revenues of approximately $5.4 million
• In January 2018, acquired Allstate Insulation, an insulation installer in Kentucky with annual revenues of approximately $1.5 million
• In March 2018, acquired Custom Overhead Door, LLC, a provider of garage door, gates and access control systems and maintenance services to commercial and residential customers in North Carolina with annual revenues of approximately $15.0 million

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

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