Installed Building Products: Q2 Earnings Snapshot
COLUMBUS, Ohio (AP) _ Installed Building Products Inc. (IBP) on Thursday reported second-quarter net income of $59.9 million.
On a per-share basis, the Columbus, Ohio-based company said it had profit of $2.07. Earnings, adjusted for one-time gains and costs, were $2.48 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.96 per share.
The residential insulation installer posted revenue of $676.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $621.3 million.