Installed Building Products reports Q4 EPS $2.43, consensus $2.16

Reports Q4 revenue $686.5M, consensus $676.69M. "I am extremely proud of the financial and operating results we achieved in 2022, which included record annual revenue, net income, and adjusted EBITDA. Throughout the year, we focused on supporting our residential and commercial customers during a complex operating environment, which included managing shifting end market demand, and aligning our selling prices with the value we offer customers. Overall, our record 2022 performance is a direct result of the hard work and dedication of IBP‘s employees," stated Jeff Edwards, Chairman and Chief Executive Officer. Mr. Edwards continued, "Our 2022 results also produced record operating cash flow, which supported our acquisition strategy, share repurchase program, and dividend policy. I am pleased to report that we achieved our goal of acquiring over $100 million in annual revenue. In addition, during 2022 we invested $137.6 million to repurchase 1.5 million shares of IBP stock and paid shareholders $62.7 million in cash dividends. We believe we can continue to pursue our growth-focused capital allocation strategy throughout the economic cycle."