Installed Building Products to Celebrate 10th Anniversary of NYSE Listing

Rhea-AI Summary

Installed Building Products, Inc. (IBP) will celebrate its 10th anniversary of being listed on the New York Stock Exchange by ringing The Closing Bell. Since its initial public offering, IBP's market capitalization has grown from approximately $324 million to $5.7 billion. The company has achieved this growth through organic expansion and acquisitions, diversifying its end market presence. The President and CEO, Jeffrey W. Edwards, attributes this success to the hardworking employees and the company's commitment to profitable growth and ethical practices.

Installed Building Products to Ring NYSE Closing Bell to Commemorate Milestone on Monday, February 12, 2024

COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced it will celebrate the 10^th anniversary of its listing on the New York Stock Exchange (NYSE) by ringing The Closing Bell at 4:00 p.m. ET on Monday, February 12, 2024.

“I am extremely proud of the success IBP has achieved since becoming a publicly-traded company on February 13, 2014. Based on an initial public offering price of $11.00 per share, IBP’s market capitalization began at approximately $324 million and almost ten years later, as of the close of the market on February 2, 2024, our market capitalization was $5.7 billion. The credit goes to the hardworking men and women across our roughly 250 branches throughout the United States and those who support them from our office in Columbus, Ohio. IBP has grown both organically and through acquisition, transforming from a small regional installer of insulation to one of the largest installers of building products in the country. Our end market presence has become more diversified as well, expanding within multi-family and commercial end markets to complement our core single-family new construction presence. As we continue to focus on profitable growth, we remain committed to ‘doing the right thing’ for our employees, customers, communities, and shareholders,” stated Jeffrey W. Edwards, President and Chief Executive Officer.

Coverage of the Closing Bell will be live streamed on the NYSE website at https://www.nyse.com/bell. Videos and photos during and following the ceremony will be shared on NYSE's social media channels: YouTube, Facebook, Instagram, and on X (formerly Twitter) @NYSE.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, including with respect to the housing market and the commercial market, our financial and business model, the demand for our services and product offerings, expansion of our national footprint and end markets, diversification of our products, our ability to grow and strengthen our market position, our ability to pursue and integrate value-enhancing acquisitions, our ability to improve sales and profitability, and expectations for demand for our services and our earnings. Forward-looking statements may generally be identified by the use of words such as “anticipate,” “believe,” “expect,” “intends,” “plan,” and “will” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those expressed in or suggested by such forward-looking statements as a result of various factors, including, without limitation, the adverse impact of the ongoing COVID-19 pandemic; general economic and industry conditions; increases in mortgage interest rates and rising home prices; inflation and interest rates; the material price and supply environment; the timing of increases in our selling prices; and the factors discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission. Any forward-looking statement made by the Company in this press release speaks only as of the date hereof. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict these events or how they may affect it. The Company has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws.

About Installed Building Products

Installed Building Products, Inc. is one of the nation's largest new residential insulation installers and is a diversified installer of complementary building products, including waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors and other products for residential and commercial builders located in the continental United States. The Company manages all aspects of the installation process for its customers, from direct purchase and receipt of materials from national manufacturers to its timely supply of materials to job sites and quality installation. The Company offers its portfolio of services for new and existing single-family and multi-family residential and commercial building projects in all 48 continental states and the District of Columbia from its national network of approximately 250 branch locations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240203019145/en/

Investor Relations:

614-221-9944

investorrelations@installed.net

Source: Installed Building Products, Inc.

FAQ

When will Installed Building Products celebrate its 10th anniversary on the NYSE?

Installed Building Products will celebrate its 10th anniversary on the NYSE by ringing The Closing Bell at 4:00 p.m. ET on Monday, February 12, 2024.

What was IBP's market capitalization at the time of its initial public offering?

IBP's market capitalization at the time of its initial public offering was approximately $324 million.

What is IBP's current market capitalization?

As of the close of the market on February 2, 2024, IBP's market capitalization was $5.7 billion.

How has IBP achieved its growth?

IBP has achieved its growth through organic expansion and acquisitions, transforming from a small regional installer of insulation to one of the largest installers of building products in the country.

Who is the President and CEO of Installed Building Products?

The President and CEO of Installed Building Products is Jeffrey W. Edwards.