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May 05, 2015 8:54 PM ET

Household Durables

Company Overview of Installed Building Products, Inc.

Company Overview

Installed Building Products, Inc., together with its wholly owned subsidiaries, primarily engages in the installation of insulation, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass insulation, spray foam insulation, and cellulose insulation materials. The company is also involved in the installation of insulation and sealant materials in various areas of a structure, which includes basement and crawl spaces, building envelopes, attics, and acoustical insulations. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repai...

495 South High Street

Suite 50

Columbus, OH 43215

United States

Founded in 1977

3,600 Employees

Phone:

614-221-3399

Fax:

614-221-3389

Key Executives for Installed Building Products, Inc.

Chairman, Chief Executive Officer and President
Age: 50
Total Annual Compensation: $600.0K
Chief Financial Officer, Executive Vice President of Finance and Director
Age: 50
Total Annual Compensation: $218.9K
Chief Operating Officer
Age: 53
Total Annual Compensation: $334.2K
Compensation as of Fiscal Year 2014.

Installed Building Products, Inc. Key Developments

Installed Building Products, Inc. Announces New $200 Million Senior Secured Credit Facility

Installed Building Products, Inc. announced that it has entered into a new five year $200 million senior secured credit facility with an accordion feature allowing the company to increase the borrowing capacity to $225 million, subject to certain approvals. The credit facility consists of a $100 million revolving line of credit, a $50 million term loan, and a $50 million delayed draw term loan. Borrowings under the senior credit facility will bear interest at a rate of LIBOR plus a spread of 1.25% to 2.25%, depending on IBP’s leverage ratio. The new credit facility will be available for general corporate purposes and growth initiatives. This new credit facility replaces the company’s prior $75 million revolver and $25 million term loan.

Installed Building Products Mulls Acquisitions

Installed Building Products, Inc. (NYSE:IBP) is seeking acquisitions. Jeff Edwards, Chairman and Chief Executive Officer of Installed Building Products, said, “As we move forward in 2015, we continue to see excellent acquisition opportunities in our target markets and we are well situated to further execute on our growth strategy.”

Installed Building Products, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Installed Building Products, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenue of $145,270,000 against $119,330,000 a year ago. Operating income was $9,317,000 against $4,538,000 a year ago. Income before income taxes was $8,201,000 against $3,947,000 a year ago. Net income from continuing operations was $5,056,000 against $2,377,000 a year ago. Net income attributable to common stockholders was $5,056,000 against $751,000 a year ago. Basic and diluted income per share was $0.16 against $0.03 a year ago. Adjusted net income from continuing operations was $6,225,000 against $3,250,000 a year ago. Adjusted net income per share from continuing operations basic and diluted was $0.20 against $0.15 a year ago. EBITDA was $13,348,000 against $7,804,000 a year ago. Adjusted EBITDA was $15,237,000 against $9,215,000 a year ago. For the year, the company reported net revenue of $518,020,000 against $431,929,000 a year ago. Operating income was $25,586,000 against $13,078,000 a year ago. Income before income taxes was $22,587,000 against $10,854,000 a year ago. Net income from continuing operations was $13,980,000 against $6,638,000 a year ago. Net loss attributable to common stockholders was $5,965,000 against $183,000 a year ago. Basic and diluted loss per share was $0.20 against $0.01 a year ago. Net cash provided by operating activities was $19,602,000 against $4,224,000 a year ago. Purchases of property and equipment were $6,176,000 against $2,665,000 a year ago. Adjusted net income from continuing operations was $16,165,000 against $7,511,000 a year ago. Adjusted net income per share from continuing operations basic and diluted was $0.54 against $0.34 a year ago. EBITDA was $40,716,000 against $23,944,000 a year ago. Adjusted EBITDA was $44,013,000 against $25,355,000 a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
April 6, 2015
C.Q. Insulation Inc.
Buyback
March 16, 2015
--
Merger/Acquisition
March 12, 2015
BDI Insulation, Inc.
 

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