Installed Building Products, Inc. Q1 Profit Decreases, Misses Estimates

(RTTNews) - Installed Building Products, Inc. (IBP) released earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $45.4 million, or $1.64 per share. This compares with $55.9 million, or $1.97 per share, last year.

Excluding items, Installed Building Products, Inc. reported adjusted earnings of $57.6 million or $2.08 per share for the period.

Analysts on average had expected the company to earn $2.20 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 1.2% to $684.8 million from $692.9 million last year.

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

-Earnings: $45.4 Mln. vs. $55.9 Mln. last year. -EPS: $1.64 vs. $1.97 last year. -Revenue: $684.8 Mln vs. $692.9 Mln last year.