COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Installed Building Products Inc. (IBP) on Thursday reported third-quarter profit of $68.6 million.
On a per-share basis, the Columbus, Ohio-based company said it had profit of $2.44. Earnings, adjusted for one-time gains and costs, came to $2.85 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.98 per share.
The residential insulation installer posted revenue of $760.6 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $757.9 million.
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