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COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Installed Building Products Inc. (IBP) on Wednesday reported fourth-quarter earnings of $68.7 million.
On a per-share basis, the Columbus, Ohio-based company said it had net income of $2.42. Earnings, adjusted for one-time gains and costs, came to $2.43 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The residential insulation installer posted revenue of $686.5 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $682.3 million.
For the year, the company reported profit of $223.4 million, or $7.74 per share. Revenue was reported as $2.67 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a IBP">Zacks stock report on IBP at https://www.zacks.com/ap/IBP