Installed Building Products ( (IBP) ) has released its Q4 earnings. Here is a breakdown of the information Installed Building Products presented to its investors.
Installed Building Products, Inc. is a leading installer of insulation and complementary building products in the United States, serving both residential and commercial markets through a network of over 250 branch locations. The company manages the installation process from material procurement to final installation, offering a diverse range of products including waterproofing, fireproofing, and garage doors.
Installed Building Products reported record results for the fourth quarter and full year of 2024, with net revenue reaching $750.2 million for the quarter, a 4.1% increase from the previous year. The company’s net income for the quarter rose to $66.9 million, and adjusted EBITDA increased by 2.9% to $132.0 million. The company also declared a regular cash dividend and an annual variable dividend, reflecting its strong financial position.
Key financial metrics for the quarter included a net income per diluted share increase of 4.4% to $2.39 and an adjusted net income per diluted share increase of 4.3% to $2.88. The company also repurchased 383,000 shares of common stock and reduced borrowing costs by repricing its Term Loan B facility. Additionally, the company completed several acquisitions, contributing over $100 million in annual revenue.
Looking ahead, Installed Building Products remains optimistic about the demand for its services despite challenges in housing affordability. The company plans to continue its growth strategy through acquisitions and aims to acquire at least $100 million in annual revenue in 2025. Management is focused on maintaining flexibility to adapt to market conditions and drive operational improvements.
Overall, Installed Building Products’ strong financial performance and strategic initiatives position it well for continued growth in the coming year, with a focus on expanding its market presence and returning capital to shareholders.