COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Installed Building Products Inc. (IBP) on Thursday reported fourth-quarter earnings of $76.6 million.
On a per-share basis, the Columbus, Ohio-based company said it had profit of $2.83. Earnings, adjusted for one-time gains and costs, were $3.24 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.80 per share.
The residential insulation installer posted revenue of $747.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $739.7 million.
For the year, the company reported profit of $265.4 million, or $9.71 per share. Revenue was reported as $2.97 billion.
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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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