Installed Building Products, Inc. (NYSE:IBP) Q3 2023 Earnings Conference Call November 8, 2023 10:00 AM ET

Company Participants

Darren Hicks - Investor Relations

Jeff Edwards - Chairman and Chief Executive Officer

Michael Miller - Chief Financial Officer

Jason Niswonger - Chief Administrative and Sustainability Officer

Conference Call Participants

Reuben Garner - Benchmark Company

Stephen Kim - Evercore ISI

Joe Ahlersmeyer - Deutsche Bank

Adam Baumgarten - Zelman

Susan Maklari - Goldman Sachs

Noah Merkousko - Stephens

Phil Ng - Jefferies

Jeffrey Stevenson - Loop Capital Markets

Ken Zener - Seaport Research Partners

Jonathan Bettenhausen - Truist Securities

Operator

Greetings, and welcome to Installed Building Products Fiscal 2023 Third Quarter Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the call over to your host, Darren Hicks. Thank you. You may begin.

Darren Hicks

Good morning, and welcome to Installed Building Products Third Quarter 2023 Earnings 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 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 are based on management’s current expectations and beliefs. These statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those described today.

Please refer to the cautionary statements and risk factors in our SEC filings, including our most recent 10-Q and annual report on Form 10-K. We undertake no duty or obligation to update any forward-looking statements as a result of new information of future events, except as required by federal securities laws. In addition, management refers to certain non-GAAP or adjusted financial measures on this call. You can find a reconciliation of such measures to their nearest GAAP equivalent in the company’s earnings release and additional reconciliation for EBITDA and adjusted EBITDA for earlier fiscal periods in our investor presentation, which are available on the Investor Relations section of our website.

This morning’s conference call is hosted by Jeff Edwards, our Chairman and Chief Executive Officer; and Michael Miller, our Chief Financial Officer; and joined by Jason Niswonger, our Chief Administrative and Sustainability Officer.

I will now turn the call over to Jeff.

Jeff Edwards

Thanks, Darren, and good morning to everyone joining us on today’s call. As usual, I will start the call with some highlights and then turn the call over to Michael, who will discuss our financial results and capital position in more detail before we take your questions. IBP produced another solid quarter of operating and financial results, achieving all-time and third quarter record results on several profitability and cash flow generation metrics during a volatile economic backdrop for residential and commercial construction activity.