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Installed Building Products, Inc. reports developments tied to its insulation installation and complementary building-products services for residential and commercial builders in the continental United States. The company installs fiberglass, spray foam and cellulose insulation, and also provides waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving, mirrors and related products.
Recurring IBP news centers on quarterly and annual results, demand conditions in residential and commercial construction, acquisition activity, product-category diversification, cash dividends, share repurchases and capital-structure actions. Updates also cover the company’s manufacturing and distribution operations, its national branch network and financing transactions such as senior notes offerings and asset-based lending facilities.
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.
Installed Building Products, Inc. (NYSE: IBP) will release its first quarter 2022 financial results on May 5, 2022. A webcast and conference call will follow at 10:00 a.m. (Eastern Time) to discuss the results. The company is a leading installer of insulation and building products across the United States, managing all installation processes through over 210 branch locations. Their services cater to both residential and commercial projects, ensuring quality materials and timely delivery to job sites.
Installed Building Products (NYSE: IBP) has announced its investment in Energi.ai, becoming the first U.S. client to implement the AI-driven platform aimed at reducing greenhouse gas emissions. The platform analyzes energy usage and emissions data to provide actionable insights for sustainability. Energi.ai, co-founded by experts in renewable energy, has a goal of enabling 10 million carbon-negative businesses by 2030. IBP's commitment underlines its strategy to enhance its environmental impact and align with evolving regulations.
Installed Building Products (IBP) has acquired Central Aluminum Supply Corporation, enhancing its revenue by approximately $45 million annually. This acquisition aligns with IBP's growth strategy, following an earlier acquisition in 2022 that added $54 million in revenue. CEO Jeff Edwards emphasized the importance of providing exceptional service while expanding market presence. The company operates over 210 branch locations across the United States, catering to residential and commercial markets.
Installed Building Products, Inc. (NYSE: IBP) has announced the acquisition of Pisgah Insulation and Fireplaces of NC, LLC, which is expected to add approximately $8.5 million in annual revenue. Located in location value="LU/us.nc.milver"Mills River, North Carolina, Pisgah specializes in spray foam insulation and fireplaces for new residential homes in the location value="LU/us.nc.ashlle"Asheville market. This acquisition aligns with IBP's growth strategy, enhancing its presence in North Carolina and contributing to its expansion across various markets.
Installed Building Products (IBP) reported record results for Q4 and the fiscal year ended December 31, 2021. Net revenue increased by 20.9% to $533.7 million, with net income rising 5.5% to $29.4 million. Adjusted EBITDA increased 11.5% to $74.8 million. The Board declared a $0.315 per share quarterly dividend and a $0.90 annual variable dividend. Supply chain disruptions impacted profits by $1.8 million. In 2021, IBP completed 12 acquisitions, significantly exceeding their target.
Installed Building Products, Inc. (IBP) has amended its asset-based lending credit facility, increasing borrowing capacity to $250 million and extending the maturity date to February 17, 2027. This replaces the prior $200 million facility, which was undrawn and maturing on September 26, 2024. The new facility allows for reduced fees linked to sustainability performance. The Administrative Agent for this facility is Bank of America, with additional syndication support from KeyBank and US Bank.
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Installed Building Products, Inc. (NYSE: IBP) will release its fourth quarter 2021 financial results on February 24, 2022. A conference call and webcast will follow at 10:00 a.m. (Eastern Time) to discuss the results.
Stakeholders can access the live webcast through the Company's website, with a playback option available until March 24, 2022.
Installed Building Products is a prominent insulation installer in the U.S., providing a range of complementary building products, and operates over 210 branch locations nationwide.
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.