Installed Building Products, Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - Installed Building Products, Inc. (IBP) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $64.9 million, or $2.29 per share. This compares with $68.7 million, or $2.42 per share, in last year's fourth quarter.

Excluding items, Installed Building Products, Inc. reported adjusted earnings of $77.3 million or $2.72 per share for the period.

Analysts on average had expected the company to earn $2.45 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $720.7 million from $686.5 million last year.

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

-Earnings (Q4): $64.9 Mln. vs. $68.7 Mln. last year. -EPS (Q4): $2.29 vs. $2.42 last year. -Analyst Estimates: $2.45 -Revenue (Q4): $720.7 Mln vs. $686.5 Mln last year.