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Dec 31, 2021
Installed Building Products Q4 2021 Earnings Report
Installed Building Products reported record fourth quarter and fiscal year results.
Key Takeaways
Installed Building Products announced record results for the fourth quarter ended December 31, 2021, with net revenue increasing 20.9% to $533.7 million and net income increasing 5.5% to $29.4 million.
Net revenue increased 20.9% to a record $533.7 million
Net income increased 5.5% to $29.4 million
Adjusted EBITDA increased 11.5% to $74.8 million
Price/mix growth increased by a record 12.9% during the fourth quarter
Installed Building Products
Installed Building Products
Forward Guidance
While new housing construction is expected to remain supportive, inflation and material supply chain issues are likely to persist throughout the year. The company will continue to proactively work with suppliers and customers to offset any potential impact on operations and profitability and remain focused on creating value for customers, employees, communities, and shareholders.
Positive Outlook
- New housing construction expected to remain supportive
- Proactive work with suppliers and customers to offset potential impact
- Focus on creating value for customers
- Focus on creating value for employees
- Focus on creating value for communities and shareholders
Challenges Ahead
- Inflation likely to persist throughout the year
- Material supply chain issues likely to persist throughout the year
- Purchases outside of typical supply chain channels continued to impact results
- Supply chain disruptions reduced gross profit by approximately $1.8 million
- Inflationary pressure contributed to year-over-year margin compression