Installed Bldg Prods Inc Stock Price, News & Analysis

Installed Building Products, Inc. (IBP) reported a record net revenue of $676.7 million for Q2 2022, a 38.7% increase year-over-year. Installation revenue rose 32.1% to $638.0 million, boosted by growth in residential, repair, and commercial sectors. Net income surged 61% to $59.9 million, with adjusted EBITDA up 53.1% to $119.5 million. The company declared a quarterly dividend of $0.315 per share and returned $59.3 million to shareholders via dividends and share buybacks during Q2. IBP aims for continued growth through strategic acquisitions.

Installed Building Products (NYSE: IBP) will release its second quarter 2022 financial results on August 4, 2022, followed by a conference call at 10:00 a.m. Eastern Time. Investors can access the call via the Company’s website, with options for both domestic and international participants. As a leading installer of insulation and building products in the U.S., Installed Building Products operates over 210 branch locations, providing services for residential and commercial construction across all 48 continental states.

Installed Building Products, Inc. (NYSE: IBP) has appointed Robert H. Schottenstein as an independent director on its Board of Directors, expanding the board to nine members. Schottenstein previously served from April 2014 to March 2020 and brings over 40 years of real estate experience, currently leading M/I Homes, Inc. (NYSE: MHO) as Chairman and CEO. His familiarity with the residential construction sector and previous tenure at IBP is expected to contribute positively to the company’s strategic direction.

Installed Building Products (NYSE: IBP) has received the National Preferred Partner Award from David Weekley Homes for the second consecutive year. This award honors partners excelling in quality and customer service, with only 12 companies earning this distinction out of 138 evaluated. The award reflects IBP's commitment to high standards and customer satisfaction, particularly in navigating challenges like supply chain disruptions during the pandemic. The company plays a critical role in supporting home builders in delivering exceptional service.

The NACD North Texas Chapter announced new officers and board members for the 2022-2023 term, effective July 1, 2022. Margot Carter, president of Living Mountain Capital, assumes the role of board chair, leading a team including Ray Hemmig as vice chair, Todd Murray as secretary, and Bill Buechele as treasurer. New board members include notable leaders such as Beth Garvey, CEO of BGSF, and Shane Goodwin, finance professor at Southern Methodist University. The board aims to enhance governance practices and elevate board performance in the Dallas-Fort Worth area.

Installed Building Products, Inc. (NYSE: IBP), a leader in insulation installation, will participate in two investor conferences. On June 1, 2022, management, including Jason Niswonger and Darren Hicks, will attend the KeyBanc Capital Markets Industrial & Basic Materials Conference in Boston, MA. On June 2, 2022, CFO Michael Miller and others will join the Loop Capital Markets 2022 Investor Conference in New York, NY. The Company specializes in installing insulation and complementary products across the U.S. from over 210 locations.

Installed Building Products (IBP) has acquired Statewide Insulation, Inc., operating as Tri-County Insulation and Acoustical Contractors, for an estimated $14 million in annual revenue. This acquisition, aimed at expanding IBP's presence in California, is part of a larger strategy that has already seen the company secure $68 million of annual revenue through acquisitions in 2022. IBP continues to explore growth opportunities across various markets, enhancing its capabilities in insulation and complementary building products.

Installed Building Products (IBP) reported record Q1 2022 results, with net revenue rising 34.4% to $587.5 million. Installation revenue climbed 30.0% to $561.6 million, driven by growth in residential and commercial markets. Net income surged 95.6% to $33.8 million, with adjusted EBITDA up 54.5% to $84.2 million. The company declared a dividend of $0.315 per share for the second quarter, reflecting a 5% increase. IBP maintains a strong cash position with $267.4 million available, and plans to acquire additional revenue-generating firms, anticipating continued growth in 2022.

Installed Building Products (NYSE: IBP) has announced its management's participation in key investor conferences. On May 10, 2022, Michael Miller (CFO), Jeffrey Hire (President of External Affairs), and Darren Hicks (Director of Investor Relations) will attend the BTIG Housing Ecosystem Conference in New York, NY. Following this, from May 11-13, 2022, Jason Niswonger (Chief Admin and Sustainability Officer), Jeffrey Hire, and Darren Hicks will be present at the Goldman Sachs Leveraged Finance and Credit Conference in Rancho Palos Verdes, CA.