Installed Building Products, Inc. (NYSE:IBP) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET

Company Participants

Darren Hicks - Managing Director, Investor Relations

Jeff Edwards - Chairman and Chief Executive Officer

Michael Miller - Chief Financial Officer

Jason Niswonger - Chief Administrative and Sustainability Officer

Conference Call Participants

Susan Maklari - Goldman Sachs

Mike Dahl - RBC Capital Markets

Adam Baumgarten - Zelman & Associates

Joe Ahlersmeyer - Deutsche Bank

Noah Merkousko - Stephens

Stephen Kim - Evercore ISI

Carl Reichardt - BTIG

Operator

Greetings, and welcome to the Installed Building Products Fiscal 2023 First Quarter Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Darren Hicks, Managing Director of Investor Relations. Thank you, sir. You may begin.

Darren Hicks

Good morning, and welcome to Installed Building Products first quarter 2023 conference call. Earlier today, we issued a press release on our financial results for the first quarter, which can be found in the Investor Relations section of 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 about future expectations, anticipation, beliefs, estimates, forecasts, plans and prospects. These forward-looking statements are based on management’s current expectations and involve risks and uncertainties.

Any forward-looking statement made by management during this call is not a guarantee of future performance, and actual results may differ materially as a result of various factors, including, without limitation, the adverse impact of the ongoing COVID-19 pandemic, general economic and industry conditions, rising home prices, inflation and interest rates, the material price and supply environment, the timing of increases in our selling prices and factors discussed in the Risk Factors section of the company’s annual report on Form 10-K as may be updated from time to time in our SEC filings.

Any forward-looking statement speaks only as of the date hereof. The company undertakes no duty or obligation to update any forward-looking statements as a result of new information or future events, except as required by federal securities laws. In addition, management uses certain non-GAAP performance measures on this call, such as adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted net income per diluted share, adjusted gross profit, adjusted gross profit margin 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.