Installed Building Products: 2Q Earnings Snapshot
COLUMBUS, Ohio (AP) _ Installed Building Products Inc. (IBP) on Thursday reported second-quarter net income of $18.9 million.
The Columbus, Ohio-based company said it had profit of 63 cents per share. Earnings, adjusted for one-time gains and costs, came to 87 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The residential insulation installer posted revenue of $371.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $367.2 million.
Installed Building Products shares have increased 60% since the beginning of the year. The stock has risen slightly in the last 12 months.