Installed Building Products, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Installed Building Products, Inc. (IBP) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $55.9 million, or $1.97 per share. This compares with $49.3 million, or $1.74 per share, in last year's first quarter.

Excluding items, Installed Building Products, Inc. reported adjusted earnings of $70.2 million or $2.47 per share for the period.

Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.1% to $692.9 million from $659.3 million last year.

Installed Building Products, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $55.9 Mln. vs. $49.3 Mln. last year. -EPS (Q1): $1.97 vs. $1.74 last year. -Revenue (Q1): $692.9 Mln vs. $659.3 Mln last year.