reports
Installed Building Products Successfully Closes New Term Loan B Facili...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that the Company has successfully closed its previously announced new 7-year $500 million term loan (the “New Term Loan”). The New Term Loan matures on March 28, 2031, has no financial maintenance covenants, and is rated BB+ by S&P Global Ratings and Ba1 by Moody's Investors Service. The pricing of the New Term Loan bears interest at the adjusted term secured overnight financing rate plus 2.0...
Installed Building Products Celebrates Five Years of Community Impact
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (NYSE: IBP), an industry-leading installer of insulation and complementary building products, is proud to celebrate the fifth anniversary of its community giving initiatives, which have significantly contributed over $10 million in educational scholarships and support to diverse nonprofits. Over the last half-decade, IBP has focused on creating a sustainable impact through inclusive, trust-based philanthropy, corporate giving, and community impact programs. These efforts have successfully enriched educational, housing, and c...
Moody's assigns Ba1 rating to Installed Building Products Inc.'s propo...
Moody's Ratings (Moody's) assigned a Ba1 rating to Installed Building Products Inc.'s (IBP) proposed senior secured first lien term loan. IBP's Ba1 corporate family rating (CFR) and Ba1-PD probability of default rating (PDR) are not affected as well as the assigned Ba2 rating on the company's unsecu...
Installed Building Products Announces Plans to Refinance and Extend it...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that the Company is seeking to refinance and extend its existing $490 million Term Loan B facility due 2028 with a new 7-year $500 million term loan (the “New Term Loan”) due 2031. Net proceeds of the New Term Loan will be used to refinance the existing term loan and pay fees. The terms of any New Term Loan will be disclosed upon the completion of the transaction, which is expected to be anno...
Installed Building Products Inc: 3 directors
Two Directors at Installed Building Products Inc gave away/sold 1,205 shares at between 0.000USD and 244.220USD. The significance rating of the trade was 51/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the comp...
Installed Building Products Reports Record Fourth Quarter and Fiscal Y...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the "Company" or "IBP") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced results for the fourth quarter ended December 31, 2023. Fourth Quarter 2023 Highlights (Comparisons are to Prior Year Period) Net revenue increased 5.0% to a record $720.7 million Installation revenue increased 4.5% to $669.8 million, as multi-family and commercial sales growth, including sales from IBP's recent acquisitions, offset softer single-family sales Other revenue, which incl...
Installed Building Products to Report Fourth Quarter 2023 Financial Re...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today that the Company will release its fourth quarter 2023 financial results on February 22, 2024. A webcast and conference call will be held that same day at 10:00 a.m. (Eastern Time) to review the Company’s results. Webcast: The conference call will be available on the investor relations section of the Company’s website at . To listen to a live webcast, go to the site at least 15 minutes prior to the s...
Installed Building Products to Celebrate 10th Anniversary of NYSE List...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced it will celebrate the 10th anniversary of its listing on the New York Stock Exchange (NYSE) by ringing The Closing Bell at 4:00 p.m. ET on Monday, February 12, 2024. “I am extremely proud of the success IBP has achieved since becoming a publicly-traded company on February 13, 2014. Based on an initial public offering price of $11.00 per share, IBP’s market capitalization began at approximatel...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Lockout Rally Continues; Breakouts Piling Up Since our 11/21/23 Compass we have discussed on a weekly basis that even a minor 2-5% pullback is far from a guarantee, considering "breakaway gaps" and what appeared to be an ongoing "lockout rally," while also discussing that we would be buyers if a pullback did happen. All we got was a 1% peak to trough decline in the S&P 500, while the Nasdaq 100 (QQQ) pulled back 2.9% (though left the 11/14/23 gap unfilled). Now, the SPX and QQQ are breaking out...
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Installed Building Products Announces the Acquisition of Combee Insula...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the acquisition of Combee Insulation Company, Inc., Combee Foam Products, Inc. and Air Tight Diagnostics, LLC (collectively “Combee”). Established in 1970, Combee is headquartered in Lakeland, Florida and installs a diverse mix of building products including, fiberglass insulation, spray foam insulation, and garage doors, primarily into new residential construction projects throughout the great...
Installed Building Products Announces Ratings Upgrade from Moody’s
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced that Moody's Investors Service, Inc. ("Moody's") has upgraded IBP’s corporate family rating to Ba1 from Ba2, probability of default rating to Ba1-PD from Ba2-PD. Moody's also upgraded the rating on the Company's existing senior secured first lien term loan due 2028 to Ba1 from Ba2 and senior unsecured notes due 2028 to Ba2 from B1. The Company's speculative grade liquidity rating remains SGL-1....
Moody's upgrades Installed Building Products' CFR to Ba1
Moody's Investors Service (Moody's) upgraded Installed Building Products Inc.'s (IBP) corporate family rating (CFR) to Ba1 from Ba2, probability of default rating (PDR) to Ba1-PD from Ba2-PD. Moody's also upgraded the rating on the company's existing senior secured first lien term loan due 2028 to B...
Installed Building Products Reports Third Quarter 2023 Results; Declar...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the "Company" or "IBP") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights (Comparisons are to Prior Year Period) Net revenue decreased 1.8% to $706.5 million Installation revenue decreased 1.7% to $661.2 million, as softer single-family sales were partially offset by multi-family and commercial sales growth, including incremental sales from IBP's recent acquisitions Other ...
Installed Building Products to Report Third Quarter 2023 Financial Res...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today that the Company will release its third quarter 2023 financial results on November 8, 2023. A webcast and conference call will be held that same day at 10:00 a.m. (Eastern Time) to review the Company’s results. Webcast: The conference call will be available on the investor relations section of the Company’s website at . To listen to a live webcast, go to the site at least 15 minutes prior to the sch...
Installed Building Products Announces Retirement of Chief Operating Of...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complimentary building products, today announced that Jay P. Elliott has notified the Company of his decision to retire as Chief Operating Officer, effective December 31, 2023. Following his retirement, Mr. Elliott is expected to serve in an advisory role to the Company on business strategy and development. The Board of Directors of the Company has named Brad A. Wheeler, currently serving as Regional President of the Company, to replace Mr....
Installed Building Products Publishes 2023 Environmental, Social and G...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, announced today the release of the Company’s 2023 Environmental, Social and Governance (“ESG”) report, which highlights important milestones the Company achieved during the past year as well as the Company’s ongoing ESG policies and commitment to the environment, its employees, and its communities by promoting a more sustainable and equitable future. “IBP was built on the idea of ‘doing the right thing.’ Doi...
Installed Building Products Announces the Acquisition of Interior 2000...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company” or “IBP”) (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced the acquisition of Interior 2000 Products, LLC (“Interior 2000”). Established in 1999, Interior 2000 installs shower, shelving, and mirror products, as well as fireplaces into new and existing residential and commercial construction projects throughout the greater Richmond, Virginia market. On August 6, IBP completed the acquisition of R-Pro Select, LLC (“R-Pro”), a Fletcher, North Carolina b...
Installed Building Products Reports Record Second Quarter 2023 Results...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the "Company" or "IBP") (NYSE: IBP), an industry-leading installer of insulation and complementary building products, today announced results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights (Comparisons are to Prior Year Period) Net revenue increased 2.3% to a second quarter record of $692.1 million Installation revenue increased 2.2% to $651.9 million, driven by IBP’s multi-family and commercial new construction end markets and acquisitions Other revenue, which includes IBP’s manufacturin...
Installed Building Products to Report Second Quarter 2023 Financial Re...
COLUMBUS, Ohio--(BUSINESS WIRE)-- Installed Building Products, Inc. (the “Company”) (NYSE: IBP), an industry-leading installer of insulation products, announced today that the Company will release its second quarter 2023 financial results on August 2, 2023. A webcast and conference call will be held that same day at 10:00 a.m. (Eastern Time) to review the Company’s results. Webcast: The conference call will be available on the investor relations section of the Company’s website at . To listen to a live webcast, go to the site at least 15 minutes prior to the scheduled start time to registe...
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