IBP Q1 record net income $55.9M, EPS $1.97; revenue +5.1% to $692.9M; dividend raised 6%

Installed Building Products, Inc.

2024-Q1 EPS reported $1.97 revenue$692,900,000

Net revenue $692.9M (+5.1% YoY); net income $55.9M (+13.4%); diluted EPS $1.97 (+13.2%) - all Q1 records.
Adjusted EPS $2.47 (+14.9%); adjusted EBITDA $117.3M (+11.6%); margin expanded to 16.9% from 15.9%.
Declared Q2 regular cash dividend $0.35/share (+6% YoY), payable June 30, 2024 to holders of record June 15.
Two acquisitions: First State Building Products (Mar 2024, ~$5M annual rev) and Trade Partners (Apr 2024, >$6M annual rev).
Repriced Term Loan B, extended maturity to 2031; cash $399.9M; single-family same-branch sales +1.5%, multi-family +13.0%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.99

Installed Building Products, Inc. reported the first quarter ended March 31, 2024 results: revenue $692.9 million, net income $55.9 million, EPS $1.97 per diluted share.

Period: the first quarter ended March 31, 2024
Revenue: $692.9 million
Net income: $55.9 million
EPS: $1.97 per diluted share
Result: reported results

Exact text from the filing

For the first quarter of 2024, net revenue was $692.9 million

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Source: SEC EDGAR

accession 0001580905-24-000017

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