INSTALLED BUILDING PRODUCTS, INC. - IBP STOCK NEWS

Installed Building Products, Inc. (NYSE: IBP) announced that during its third year, the Installed Building Products Foundation donated $1.3 million in 2021 to 29 nonprofit organizations across the United States. Since its inception, total donations have reached $4.6 million. Key beneficiaries include local organizations in Ohio and other states such as Texas and California, focusing on home-building and renovation services for those in need. IBP Foundation President Kelly Clifford Riehl emphasized commitment to community support amid ongoing challenges.

Installed Building Products, Inc. (NYSE: IBP) has successfully closed a new 7-year Term Loan amounting to $500 million, set to mature on December 13, 2028. The loan, rated BB+ by S&P and Ba2 by Moody's, features a pricing of LIBOR plus 225 basis points. Proceeds will refinance a previous $200 million Term Loan B and support acquisitions and growth initiatives. Moody's upgraded IBP’s Corporate Family Rating to Ba2, reflecting improved financial stability. Royal Bank of Canada is the Term Administrative Agent for this facility.

Installed Building Products (IBP) has announced its acquisition of AMD Distribution, Inc. for an estimated $71 million in annual revenue. AMD, based in Spring Valley, Minnesota, operates eight locations and specializes in insulation products for various markets. This acquisition is projected to enhance IBP's revenue diversification, geographic reach, and supply chain efficiency. With this deal, IBP has significantly exceeded its acquisition revenue target for 2021, reflecting a robust pipeline for future growth.

Installed Building Products, Inc. (NYSE: IBP) plans to raise a new $500 million Term Loan due 2028 to refinance its existing $200 million Term Loan B due April 2025. The funds will also support acquisitions and general corporate purposes. The loan terms will be revealed post-transaction completion, expected by December 2021. The company manages insulation and related building product installations across the U.S., operating over 190 branches. Forward-looking statements highlight potential risks related to market conditions and the economy.

Installed Building Products, Inc. (NYSE: IBP) will participate in two upcoming investor conferences. On November 29, 2021, Jeffrey Hire and Jason Niswonger will attend the Stephens Annual Investment Conference virtually. Following this, on December 7, 2021, Michael Miller, Jeffrey Hire, and Jason Niswonger will join the Truist Securities Industrials & Services Summit virtually. IBP is a leading installer of insulation and building products, managing over 190 branch locations across the U.S.

Installed Building Products (NYSE: IBP) announced the acquisition of CFI Insulation, Inc., adding approximately $10 million in annual revenue. CFI, based in Knoxville, Tennessee, specializes in installing fiberglass and spray foam insulation for various construction projects. This acquisition is part of IBP's strategy, having surpassed its $100 million acquisition revenue target for 2021.

CEO Jeff Edwards emphasized the significance of this expansion into residential and commercial markets across Tennessee.

Installed Building Products (IBP) reported a strong third quarter in 2021, achieving record net revenue of $509.8 million, a 21.2% increase year-over-year. Net income rose 24.3% to $34.9 million, with adjusted EBITDA up 18% to $78.1 million. Though supply chain disruptions impacted gross profit by $2 million, IBP experienced a 7.2% growth in price/mix. The Company declared a fourth quarter cash dividend of $0.30 per share, payable on December 31, 2021. IBP's cash reserves stood at $191.4 million as of September 30, 2021.

Installed Building Products, Inc. (NYSE: IBP) has announced the acquisition of Denison Glass and Mr. Insulation Co., Inc. These acquisitions are expected to add approximately $20 million and $2.8 million in annual revenue, respectively. Denison, located in Texas, primarily serves the Dallas/Fort Worth area, while Mr. Insulation operates in Oregon and Washington. This year, the company has achieved approximately $130 million in acquired revenues, surpassing its $100 million target. Acquisitions remain vital to IBP's growth strategy.

Installed Building Products, Inc. (IBP) will release its third quarter 2021 financial results on November 4, 2021. A conference call will follow at 10:00 a.m. (Eastern Time) to discuss the outcomes. The company is recognized as one of the largest new residential insulation installers in the U.S., offering a variety of building products and services through over 190 branch locations. Investors can access the conference call via the company’s investor relations website and through dedicated phone lines for domestic and international callers.