COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Installed Building Products Inc. (IBP) on Thursday reported first-quarter profit of $45.4 million.
The Columbus, Ohio-based company said it had net income of $1.64 per share. Earnings, adjusted for one-time gains and costs, were $2.08 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.18 per share.
The residential insulation installer posted revenue of $684.8 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $673.2 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBP at https://www.zacks.com/ap/IBP
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