Installed Building Products Inc. said its fourth-quarter normalized net income amounted to 28 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.
EPS increased 72.9% year over year from 16 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.7 million, a gain of 70.4% from $5.1 million in the prior-year period.
The normalized profit margin climbed to 4.9% from 3.5% in the year-earlier period.
Total revenue increased 31.8% year over year to $191.5 million from $145.3 million, and total operating expenses rose 29.8% from the prior-year period to $176.4 million from $136.0 million.
Reported net income increased 91.4% on an annual basis to $9.4 million, or 30 cents per share, from $4.9 million, or 15 cents per share.
For the year, the company's normalized net income totaled 81 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 89 cents.
EPS rose 77.5% from 46 cents in the prior year.
Normalized net income was $25.5 million, an increase of 84.7% from $13.8 million in the prior year.
Full-year total revenue increased 27.9% year over year to $662.7 million from $518.0 million, and total operating expenses increased 25.5% on an annual basis to $617.8 million from $492.4 million.
The company said reported net income totaled $26.6 million, or 85 cents per share, in the full year, compared with a loss of $6.0 million, or a loss of 20 cents per share, the prior year.