Installed Building Products Reports Record Results for First Quarter 2020
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Installed Building Products (IBP) Tops Q1 EPS by 16c, Revenues Beat
May 8, 2020 7:10 AM EDTInstalled Building Products (NYSE: IBP) reported Q1 EPS of $0.78, $0.16 better than the analyst estimate of $0.62. Revenue for the quarter came in at $397.3 million versus the consensus estimate of $381.85 million.
First Quarter 2020 Highlights (Comparisons are to Prior Year Period)
Net revenue increased 16.1% to a first quarter record of $397.3 millionNet income increased 81.0% to $16.0 millionAdjusted EBITDA* increased 37.9% to $49.2 millionNet cash provided by operating activities increased 126.0% to $35.9 millionNet income per diluted share increased 76.7% to $0.53Adjusted net income per diluted share* increased 52.9% to $0.78At March 31, 2020, IBP had $213.7 million... More