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Mar 31, 2021
Installed Building Products Q1 2021 Earnings Report
Installed Building Products reported record results due to its resilient business model and diversification strategies, overcoming operating challenges such as COVID-19 impacts and winter storms.
Key Takeaways
Installed Building Products reported a record first quarter with net revenue increasing by 10.0% to $437.1 million and net income increasing by 8.1% to $17.3 million. The company successfully navigated operating challenges, including the COVID-19 crisis and February winter storms, while also completing three acquisitions.
Net revenue increased 10.0% to a first quarter record of $437.1 million.
Net income increased 8.1% to $17.3 million.
Adjusted net income per diluted share increased 15.4% to $0.90.
IBP acquired I.W. International Insulation, Inc. during the first quarter
Forward Guidance
Despite near-term supply challenges, demand and pricing remains strong, and the company expects trends within its large commercial business will improve later this year, leading to another strong year of sales and earnings growth for IBP in 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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