Installed Building Products, Inc. (NYSE:IBP) Q3 2019 Earnings Conference Call - Final Transcript

Nov 01, 2019 • 09:00 am ET


Installed Building Products, Inc. (NYSE:IBP) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Installed Building Products Fiscal 2019 Third Quarter Investor Conference Call. [Operator Instructions]

It is now my pleasure to introduce your host, Jason Niswonger, Senior VP, Finance and Investor Relations. Thank you, sir. You may begin.

Jason Niswonger

Good morning, and welcome to Installed Building Products' third quarter 2019 conference call. Earlier today, we issued a press release on our financial results for the third quarter, which can be found in the Investor Relations section on our website. On today's call, management's prepared remarks and answers to your questions may contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include statements with respect to the housing market and industry conditions, our financial and business model; our efforts to manage material inflation; our ability to increase selling prices; the demand for our services and product offering; expansion of our national footprint, products and end markets; our expectations for our end markets; our ability to strengthen our market position; our ability to pursue and integrate value-enhancing acquisitions; our diversification efforts; Alpha's revenue and profitability; expansion of our commercial business; our growth rate and ability to improve sales and profitability and expectations for demand for our services and our earnings in 2019.

Forward-looking statements may generally be identified by the use of words such as anticipate, believe, expect, intend, plan and will, or in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Any forward-looking statement made by management during this call is not a guarantee of future performance, and actual results may vary materially from those expressed in or suggested by the forward-looking statements as a result of various factors, including, without limitation, the factors discussed in the Risk Factors section of the company's annual report on Form 10-K for the year ended December 31st, 2018, as the same may be updated from time to time in subsequent filings with the Securities and Exchange Commission.

Any forward-looking statement made by management on this call speaks only as of the date hereof. New risks and uncertainties come up from time to time and it is impossible for the company to predict these events or their effect. The company has no obligation and does not intend to update any forward-looking statements after the date hereof, except as required by federal securities laws.

In addition, management uses certain non-GAAP performance measures on this call, such as EBITDA, adjusted EBITDA margin, adjusted net income and adjusted net income per diluted share, adjusted gross profit and adjusted selling and administrative expense. You can find a reconciliation of such measures to their nearest GAAP equivalent in the company's earnings release and additional reconciliation for adjusted EBITDA for earlier fiscal years in our investor presentation, which are available on our website. This morning's conference