INSTALLED BUILDING PRODUCTS, INC. - IBP STOCK NEWS

Installed Building Products (NYSE: IBP) announced its first-quarter results, reporting a 12.2% increase in net revenue to $659.3 million. Installation revenue increased 10.9% to $622.7 million, driven by growth in residential and commercial new construction markets. Net income increased 45.7% to $49.3 million, and adjusted EBITDA increased 24.7% to $105.0 million. IBP had $218.7 million in cash and cash equivalents at the end of the quarter. The company also declared a first-quarter dividend of $0.33 per share and an annual variable dividend of $0.90 per share. IBP expects to acquire at least $100 million of revenue for the full year.

Installed Building Products, Inc. (NYSE: IBP), a top installer of insulation products, will disclose its Q1 2023 financial results on May 4, 2023. A webcast and conference call are scheduled for 10:00 AM (ET) on the same day to discuss these results in detail. Investors can access the call through the company's website, and a playback will be available until June 4, 2023. The company is a significant player in new residential insulation installation, managing a wide range of building products, including waterproofing and fireproofing, across the United States and the District of Columbia.

Installed Building Products, Inc. (NYSE: IBP) has announced the acquisition of Anchor Insulation Co., Inc., enhancing its operational footprint in the Northeastern United States. Anchor Insulation, established in 1980 and based in Pawtucket, Rhode Island, generates approximately $39 million in annual revenue. This acquisition aligns with IBP's growth strategy, which has already seen it acquire $43 million in annual revenue in 2023 alone. CEO Jeff Edwards emphasized the strategic importance of this acquisition for expanding IBP's market reach across various customer segments, including residential and commercial sectors.

Installed Building Products (IBP) reported a record fourth quarter in 2022, with net revenue increasing by 28.6% to $686.5 million. Installation revenue grew 22.7% to $641 million, while net income surged 134% to $68.7 million, or $2.42 per diluted share. Adjusted EBITDA rose 54.3% to $115.4 million. IBP announced a quarterly dividend of $0.33 per share and a variable annual dividend of $0.90. The company completed eight acquisitions in 2022, totaling approximately $109 million in annual revenue. With a strong cash position of $229.6 million, IBP is poised for continued growth through acquisitions and shareholder returns.

Installed Building Products, Inc. (NYSE: IBP) will release its fourth quarter 2022 financial results on February 22, 2023. A conference call and webcast will follow at 10:00 a.m. ET on the same day to discuss the results. Investors can access the call via the Company's website and dial in using the provided numbers. Installed Building Products is a leading installer of insulation products and other complementary building products across the continental United States, with over 220 branch locations serving residential and commercial builders.

Installed Building Products, Inc. (NYSE: IBP) announced the acquisition of ABS Insulating Company, ABS Sprayfoam Insulation, and ABS Coastal Insulating, significantly enhancing its business. The acquisition adds approximately $21 million in annual revenue and solidifies IBP's presence in the Charlotte, NC and Myrtle Beach, SC markets. In 2022, IBP has already secured over $100 million in acquired revenue, exceeding prior expectations. Acquisitions are a vital part of IBP's growth strategy as it looks to expand its market footprint.

Installed Building Products (NYSE: IBP) announced the acquisition of Orr Industries, LLC, enhancing its presence in Pennsylvania with an additional $10 million in annual revenue. The acquisition aligns with IBP's growth strategy, contributing to the $88 million of revenue from acquisitions made in 2022. CEO Jeff Edwards emphasized the importance of acquisitions in expanding IBP's national footprint and service offerings. This move bolsters their market position in the insulation and complementary building products sector.

Installed Building Products (NYSE: IBP) announced the acquisition of Lynch Insulation, adding approximately $5 million to its annual revenue. This strategic move expands IBP's footprint in Montana, following a total of $78 million in acquisitions in 2022. Jeff Edwards, CEO, emphasized the importance of acquisitions in driving growth for the company. The press release also includes forward-looking statements about market conditions and potential risks, particularly related to economic factors and the ongoing impact of COVID-19.