Installed Bldg Prods Inc Stock Price, News & Analysis

Installed Building Products (IBP) has announced the acquisition of Capital Insulation, and CBS & Mirror, (collectively 'Capital') in Houston, Texas. Capital, which serves single-family, multifamily, and commercial markets, primarily installs fiberglass and spray foam insulation for new construction projects. The acquisition adds over $12 million in annual revenue to IBP's existing Houston operations.

This acquisition contributes to IBP's broader expansion strategy, with the company having already acquired over $100 million of annual revenue in 2024. The company maintains a strong pipeline of acquisition opportunities across various geographies, products, and markets.

Installed Building Products (NYSE: IBP) has successfully repriced its $500 million term loan, reducing the interest rate to adjusted term SOFR plus 1.75% from 2.00%. The company also reported significant share repurchases, buying back 250,000 shares in November for approximately $52 million. In 2024, IBP has repurchased 565,000 shares for $118 million, with $182 million remaining under the current authorization until March 1, 2025. The Term Loan repricing is expected to save over $1 million in annual cash interest expenses. The loan maintains its March 28, 2031 maturity date and holds ratings of BB+ from S&P and Ba1 from Moody's.

Installed Building Products (IBP) has released its 2024 ESG report highlighting significant achievements in environmental and social initiatives. Over the past decade, IBP has grown from 3,200 to 11,000 employees, increasing its residential insulation market share from 16% to 30%. The company reported a 55% reduction in CO2 emissions from spray foam applications since 2020, while increasing spray foam material usage by 20%. Approximately 65% of IBP's 2023 revenue came from energy-saving insulation services. The company has diverted over 120,000 metric tons of CO2 emissions through recycled paper use and increased carbon-free electricity usage to over 35%. Through its foundation, IBP has contributed over $2.5 million to nonprofits, bringing its total philanthropic impact since 2019 to over $10 million.

Installed Building Products (NYSE: IBP) has announced the acquisition of Tatum Insulation III, , a Wilmington, North Carolina-based company that contributes over $17 million in annual revenue. Tatum specializes in installing fiberglass insulation, shower doors, shelving, mirrors, and other interior building products, serving both new residential and commercial markets throughout North Carolina. This acquisition is part of IBP's broader growth strategy, with the company having acquired businesses representing over $90 million in annual revenue in 2024 to date.

Installed Building Products (IBP) reported record third quarter 2024 results with net revenue increasing 7.7% to $760.6 million. Installation revenue grew 7.9% to $713.7 million, while net income rose 0.9% to $68.6 million. The company achieved an adjusted EBITDA of $132.3 million, up 1.4%. Key highlights include earnings per diluted share of $2.44, $406.2 million in cash and cash equivalents, and year-to-date acquisitions totaling $73 million in annual revenue. IBP declared a quarterly dividend of $0.35 per share and repurchased 100,000 shares for $20.7 million.

Installed Building Products (NYSE: IBP), a leading insulation and building products installer, has announced it will release its third quarter 2024 financial results on November 7, 2024. The company will host a webcast and conference call at 10:00 a.m. Eastern Time on the same day to discuss the results. The webcast will be accessible through the company's investor relations website. Participants can join via telephone using domestic (1-877-407-0792) or international (1-201-689-8263) numbers. A playback option will be available until December 7, 2024.

Installed Building Products (IBP) has announced the acquisition of Wholesale Insulation Supply, Inc., doing business as Insulation Supplies. This strategic move adds over $22 million in annual revenue to IBP's portfolio. Insulation Supplies, established in 1986 and headquartered near Minneapolis, Minnesota, serves residential and commercial markets throughout Minnesota and the upper Midwest.

The acquisition expands IBP's geographic presence and enhances its ability to meet customer needs in the region. Insulation Supplies specializes in distributing fiberglass insulation, spray foam insulation, cellulose insulation, and related accessories and machinery. This acquisition brings IBP's total acquired annual revenue in 2024 to over $73 million, highlighting the company's commitment to growth through strategic acquisitions.

Installed Building Products' (NYSE: IBP) subsidiary, Advanced Fiber Technology (AFT), has expanded its manufacturing capabilities in Bucyrus, Ohio with a $5.5 million investment. The project includes a $4.75 million investment in cutting-edge technology, robotics, and automation for wastepaper conversion. This expansion adds a second production line, increasing AFT's capacity to produce Carbon-Smart™ Loose-Fill Cellulose Insulation, an environmentally responsible product made from over 85% recycled content.

The new line is expected to meet growing demand for AFT's high-performance insulation products and support local economic growth. IBP's CEO, Jeff Edwards, emphasized the company's commitment to providing innovative solutions nationwide and serving customers effectively through this expansion.

Installed Building Products (NYSE: IBP) reported record second quarter 2024 results. Key highlights include:

- Net revenue increased 6.6% to $737.6 million
- Net income rose 5.8% to $65.2 million
- Adjusted EBITDA grew 6.3% to $129.8 million
- Earnings per diluted share increased 5.5% to $2.30
- Adjusted net income up 8.8% to $80.5 million, or $2.84 per diluted share

IBP also declared a quarterly dividend of $0.35 per share and repurchased approximately 215,000 shares for $46 million. The company completed several acquisitions, adding over $50 million in annual revenue year-to-date. IBP's outlook for 2024 remains positive, focusing on organic growth and accretive acquisitions.