Installed Bldg Prods Inc Stock Price, News & Analysis

Installed Building Products, Inc. (NYSE: IBP) announced a significant donation of $1.9 million to nonprofits and individuals via the Installed Building Products Foundation. This includes $820,000 in major grants aimed at assisting home-building and renovation services across various states. The Foundation has notably contributed over $1.4 million to employee assistance programs since its launch in 2019. The Foundation, fueled by contributions from executives and employees, emphasizes community support during challenging times.

Installed Building Products (IBP) has acquired I.W. International Insulation, Inc., known as Intermountain West Insulation, enhancing its insulation services in the Pacific Northwest. Intermountain, founded in 1981, operates six locations in Washington and generated approximately $34.4 million in annual revenue. This acquisition is part of IBP's growth strategy, which includes expanding its geographical footprint and service offerings. The company emphasizes its commitment to integrating value-enhancing acquisitions to strengthen its market position and improve profitability.

Installed Building Products (IBP) reported record financial results for Q4 and the fiscal year ending December 31, 2020. Q4 net revenue rose 10.0% to $441.5 million, with significant growth in large commercial construction up 40.4%. Net income surged 45.0% to $27.8 million, and adjusted EBITDA increased 20.7% to $67.1 million. The company initiated a quarterly dividend of $0.30 per share, payable March 31, 2021. IBP also expanded its share repurchase program to $100 million. The company is optimistic about growth in 2021, backed by a solid acquisition strategy.

Installed Building Products (IBP) has initiated a quarterly cash dividend program, starting at $0.30 per share, payable on March 31, 2021. Alongside, the company has increased its stock repurchase program to $100 million, extended to March 1, 2022. The board aims to bolster shareholder returns while pursuing growth-oriented acquisitions, targeting approximately $100 million in acquired revenue annually. The future dividends will depend on financial performance and other strategic factors. This marks a significant commitment to enhancing shareholder value.

Installed Building Products (NYSE: IBP) will release its fourth quarter 2020 financial results on February 24, 2021. A webcast and conference call will be held at 10:00 a.m. ET to discuss the results. The company is a leading installer of insulation products and offers a wide range of additional building products across the continental U.S. With over 180 branch locations, it manages installation processes for residential and commercial builders, ensuring quality and timely service.

Installed Building Products (IBP) announces the acquisition of Custom Glass & Doors (CGD), a Georgia-based company specializing in glass and mirror installation, enhancing IBP's service portfolio in Atlanta. CGD generates approximately $7.1 million in annual revenue, contributing to IBP's strategy of pursuing acquisitions to bolster growth. Since 2020, IBP has completed acquisitions totaling over $107 million in annual revenues. This move aligns with IBP's ongoing expansion efforts, aiming to strengthen its market presence and diversify its product offerings.

Installed Building Products (IBP) has announced the acquisition of WeatherSeal Insulation Co. for approximately $6.4 million in annual revenue. Founded in 1989 and based in Charlottesville, Virginia, WeatherSeal specializes in fiberglass and spray foam insulation services for residential customers. This acquisition is part of IBP's growth strategy, which has seen over $100 million in annual revenue from acquisitions in 2020 alone. IBP continues to seek opportunities to expand its market presence across various geographies and products.

Installed Building Products (IBP) reported strong third-quarter results with record net revenue of $420.5 million, a 6.1% increase year-over-year. Residential sales rose 6.2%, while net income surged 32.4% to $28.1 million, resulting in a 33.8% increase in net income per share to $0.95. The company strengthened its financial position, with $268.7 million in cash and no debt on its revolving credit line. Acquisitions added approximately $94 million in revenue for the year. CEO Jeff Edwards expressed optimism for continued growth amid ongoing challenges due to the COVID-19 pandemic.

Installed Building Products, Inc. (NYSE: IBP) will release its third quarter 2020 financial results on November 5, 2020. A conference call is scheduled for 10:00 a.m. Eastern Time on the same day to discuss the results. Investors can access the call via the company’s website. The company is a leading installer of insulation products and operates over 180 branches nationwide, providing a range of services in residential and commercial building projects.