Installed Bldg Prods Inc Stock Price, News & Analysis

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.

Installed Building Products (IBP) has released its first Environmental, Social and Governance (ESG) report, highlighting its commitment to sustainability and corporate responsibility. The report details IBP's initiatives aimed at reducing greenhouse gas emissions by 2030 and transitioning to carbon-free energy sources. IBP's operations have a significant role in energy conservation through insulation installation. The company also emphasizes diversity, employee health and safety, and community support through various programs, including the Installed Building Products Foundation.

Installed Building Products (NYSE: IBP) has announced the acquisition of Five Star Building Products, LLC, adding approximately $25 million in annual revenue, and also acquired MT Insulation, LLC with about $4 million in annual revenue. These acquisitions contribute to over $100 million in acquired revenue year-to-date. This strategic move strengthens IBP's presence in key markets such as Utah and Pennsylvania and aligns with its growth strategy focused on expansion and value-enhancing opportunities.