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Installed Building Products, Inc. (IBP), headquartered in Columbus, Ohio, stands as a prominent player in the U.S. residential new construction market. As the second largest insulation installer in the country, IBP leverages its extensive network of over 125+ locations across the United States to deliver high-quality installation services. The company specializes in a wide range of products for new and existing residential, multifamily, and commercial building projects. These products include insulation, garage doors, siding, gutters, shower doors, mirrors, bath hardware, closets and shelving, door locksets, and fireplaces.
IBP prides itself on its longstanding relationships with leading builders nationwide, with integrity forming the cornerstone of these partnerships. The company's comprehensive training programs, deep understanding of local building codes, and robust manufacturer relationships ensure smooth, hassle-free project outcomes. This commitment to service excellence at the local level has cultivated a loyal customer base.
In addition to its core insulation services, IBP has diversified its offerings to include products such as waterproofing, fire-stopping and fireproofing, window blinds, and more. The company's insulation options include fiberglass, spray foam, and cellulose insulation, addressing a variety of customer needs.
IBP's operations are categorized into three segments: Installation, Manufacturing, and Distribution. The Installation segment is the primary revenue generator, reflecting the company's expertise and focus in this area.
Recent achievements and current projects highlight IBP's growing influence and commitment to excellence. Through strategic partnerships and continuous improvement initiatives, the company aims to stay at the forefront of the industry, delivering value to both customers and shareholders.
Installed Building Products (IBP) has released its 2024 ESG report highlighting significant achievements in environmental and social initiatives. Over the past decade, IBP has grown from 3,200 to 11,000 employees, increasing its residential insulation market share from 16% to 30%. The company reported a 55% reduction in CO2 emissions from spray foam applications since 2020, while increasing spray foam material usage by 20%. Approximately 65% of IBP's 2023 revenue came from energy-saving insulation services. The company has diverted over 120,000 metric tons of CO2 emissions through recycled paper use and increased carbon-free electricity usage to over 35%. Through its foundation, IBP has contributed over $2.5 million to nonprofits, bringing its total philanthropic impact since 2019 to over $10 million.
Installed Building Products (NYSE: IBP) has announced the acquisition of Tatum Insulation III, , a Wilmington, North Carolina-based company that contributes over $17 million in annual revenue. Tatum specializes in installing fiberglass insulation, shower doors, shelving, mirrors, and other interior building products, serving both new residential and commercial markets throughout North Carolina. This acquisition is part of IBP's broader growth strategy, with the company having acquired businesses representing over $90 million in annual revenue in 2024 to date.
Installed Building Products (IBP) reported record third quarter 2024 results with net revenue increasing 7.7% to $760.6 million. Installation revenue grew 7.9% to $713.7 million, while net income rose 0.9% to $68.6 million. The company achieved an adjusted EBITDA of $132.3 million, up 1.4%. Key highlights include earnings per diluted share of $2.44, $406.2 million in cash and cash equivalents, and year-to-date acquisitions totaling $73 million in annual revenue. IBP declared a quarterly dividend of $0.35 per share and repurchased 100,000 shares for $20.7 million.
Installed Building Products (NYSE: IBP), a leading insulation and building products installer, has announced it will release its third quarter 2024 financial results on November 7, 2024. The company will host a webcast and conference call at 10:00 a.m. Eastern Time on the same day to discuss the results. The webcast will be accessible through the company's investor relations website. Participants can join via telephone using domestic (1-877-407-0792) or international (1-201-689-8263) numbers. A playback option will be available until December 7, 2024.
Installed Building Products (IBP) has announced the acquisition of Wholesale Insulation Supply, Inc., doing business as Insulation Supplies. This strategic move adds over $22 million in annual revenue to IBP's portfolio. Insulation Supplies, established in 1986 and headquartered near Minneapolis, Minnesota, serves residential and commercial markets throughout Minnesota and the upper Midwest.
The acquisition expands IBP's geographic presence and enhances its ability to meet customer needs in the region. Insulation Supplies specializes in distributing fiberglass insulation, spray foam insulation, cellulose insulation, and related accessories and machinery. This acquisition brings IBP's total acquired annual revenue in 2024 to over $73 million, highlighting the company's commitment to growth through strategic acquisitions.
Installed Building Products' (NYSE: IBP) subsidiary, Advanced Fiber Technology (AFT), has expanded its manufacturing capabilities in Bucyrus, Ohio with a $5.5 million investment. The project includes a $4.75 million investment in cutting-edge technology, robotics, and automation for wastepaper conversion. This expansion adds a second production line, increasing AFT's capacity to produce Carbon-Smart™ Loose-Fill Cellulose Insulation, an environmentally responsible product made from over 85% recycled content.
The new line is expected to meet growing demand for AFT's high-performance insulation products and support local economic growth. IBP's CEO, Jeff Edwards, emphasized the company's commitment to providing innovative solutions nationwide and serving customers effectively through this expansion.
Installed Building Products (NYSE: IBP) reported record second quarter 2024 results. Key highlights include:
- Net revenue increased 6.6% to $737.6 million
- Net income rose 5.8% to $65.2 million
- Adjusted EBITDA grew 6.3% to $129.8 million
- Earnings per diluted share increased 5.5% to $2.30
- Adjusted net income up 8.8% to $80.5 million, or $2.84 per diluted share
IBP also declared a quarterly dividend of $0.35 per share and repurchased approximately 215,000 shares for $46 million. The company completed several acquisitions, adding over $50 million in annual revenue year-to-date. IBP's outlook for 2024 remains positive, focusing on organic growth and accretive acquisitions.
Installed Building Products (NYSE: IBP) has announced the acquisition of Euroview Enterprises, , Contract Mirror and Supply Co., and CLM Solutions, (collectively "Euroview"). Established in 1961, Euroview is headquartered in Illinois with an additional location in Minnesota, focusing on new single-family and multi-family construction projects. The acquisition adds approximately $20 million of annual revenue to IBP's business, reinforcing its presence in the Midwest region and increasing access to Illinois and Minnesota markets.
Euroview's primary revenue sources are shower doors, shelving, and mirrors. IBP's CEO, Jeff Edwards, emphasized that acquisitions remain a key component of their growth strategy, with a robust pipeline of opportunities across multiple geographies, products, and end markets.
Installed Building Products (NYSE: IBP), a leading installer of insulation and complementary building products, has announced it will release its second quarter 2024 financial results on August 1, 2024. The company will host a webcast and conference call on the same day at 10:00 a.m. Eastern Time to review the results.
Investors can access the webcast through the company's website at www.installedbuildingproducts.com. For those participating via telephone, the domestic dial-in number is 1-877-407-0792, while the international number is 1-201-689-8263. The conference ID is 13746752. A playback of the call will be available until September 1, 2024, using the passcode 13746752.
Installed Building Products (NYSE: IBP) has been awarded the National Preferred Partner Award by David Weekley Homes for the fourth consecutive year. This distinction recognizes field and manufacturing partners who consistently perform at world-class levels in terms of quality and customer service. Out of 122 companies evaluated, only 20% achieved this status, with IBP being one of just 12 companies in the field partner category. This honor underscores IBP's commitment to excellence and the company's strong partnership with David Weekley Homes. President of External Affairs, Jeff Hire, attributed this success to the company's dedication to outstanding service.
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