COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Installed Building Products Inc. (IBP) on Thursday reported first-quarter earnings of $55.9 million.
On a per-share basis, the Columbus, Ohio-based company said it had profit of $1.97. Earnings, adjusted for one-time gains and costs, came to $2.47 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.23 per share.
The residential insulation installer posted revenue of $692.9 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $676.6 million.
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