Installed Building Products Announces Successful Repricing of Term Loan B Facility and a Share Repurchase Update [Yahoo! Finance]
Installed Building Products, Inc. (IBP)
Last installed building products, inc. earnings: 2/27 07:00 am
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US:NYSE Investor Relations:
investors.installedbuildingproducts.com/investor-relations
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Source: Yahoo! Finance
insulation and complementary building products, today announced that the Company successfully repriced its $500 million term loan (the "Term Loan"). Also, during the month of November, IBP repurchased 250 thousand shares of its common stock at a total cost of approximately $52 million, including commissions. To date in 2024, the Company has repurchased 565 thousand shares for $118 million with approximately $182 million remaining under the current authorization, expiring March 1, 2025. The Term Loan maturity date of March 28, 2031 is unchanged and bears interest at the adjusted term secured overnight financing rate plus 1.75% per annum (down from the previous 2.00%), or an alternative base rate plus 0.75%. The Term Loan is rated BB+ by S&P Global Ratings and Ba1 by Moody's Investors Service. "The Term Loan repricing will provide IBP with over $1 million in estimated cash interest expense savings annually. IBP's continued strong operating and financial performance and current marke
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IBP
News
- Installed Building Products, Inc. (NYSE: IBP) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Installed Building Products Announces Successful Repricing of Term Loan B Facility and a Share Repurchase UpdateBusiness Wire
- Installed Building Products, Inc. (NYSE: IBP) had its price target raised by analysts at JPMorgan Chase & Co. from $236.00 to $241.00. They now have a "neutral" rating on the stock.MarketBeat
- Installed Building Products, Inc. (NYSE: IBP) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Installed Building Products Publishes 2024 Environmental, Social and Governance ReportBusiness Wire
IBP
Earnings
- 11/7/24 - Miss
IBP
Sec Filings
- 11/26/24 - Form 8-K
- 11/13/24 - Form 8-K
- 11/12/24 - Form 8-K
- IBP's page on the SEC website