Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-K ___________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-36307 ___________________________ Installed Building Products, Inc. ( ...

Installed Building Products, Inc. (NYSE:IBP) Q4 2020 Earnings Conference Call February 24, 2021 10:00 AM ET Company Participants Jason Niswonger - SVP, Finance & IR Jeffrey Edwards - Chairman, CEO & President Michael Miller - CFO, EVP, Finance & Director Conference Call Participants Michael Dahl - RBC Capital Markets Kenneth Zener - KeyBanc Capital Markets Adam Baumgarten - Crédit Suisse Susan Maklari - Goldman Sachs Group Michael Rehaut - JPMorgan Chase & Co. Philip Ng - Jefferies Keith Hughes - Truist Sec ...

Financial Data and Key Metrics Changes - Revenues for Q3 2020 increased to a record $420.5 million, up 6.1% year-over-year from $396.4 million [32] - Adjusted EBITDA for Q3 2020 improved to a record $66.2 million, representing an increase of 18.4% from $55.9 million in the prior year [36] - Net income increased 32.4% year-over-year to a record $28.1 million, or $0.95 per diluted share [34] - Adjusted net income improved 20.9% to $35.9 million, or $1.21 per diluted share compared to $29.7 million, or $0.99 per diluted share in the prior year [34] - Adjusted gross profit margin was 31.4%, a 160 basis point increase over the prior year [33] Business Line Data and Key Metrics Changes - Multifamily sales increased by 36.6%, contributing to a 6.2% increase in total residential sales during Q3 [32] - Same-branch residential sales grew by 1.7% from the prior year quarter [32] - Sales in the large commercial construction business increased by 2% [32] Market Data and Key Metrics Changes - Single-family completions in the U.S. increased by 2.6% [18] - New home sales year-to-date were up 17%, with a 49% increase in homes sold but not started in September [86] - The commercial backlog at September 30 was up 5% compared to the prior year [25] Company Strategy and Development Direction - The company is focused on geographic, end market, and end product diversification strategies to support long-term growth [14] - The acquisition strategy has accelerated, with eight installers acquired in 2020, generating approximately $94 million in revenue [27] - The company aims to navigate the deflationary environment and maintain strong relationships with customers and suppliers [23][24] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving record results in 2020 and anticipates another strong year in 2021 [30] - The company is well-positioned to handle the impacts of COVID-19 and other disruptions, with all branches remaining open during the quarter [15] - The lag between starts and completions is expected to impact business in 2021, but demand for services remains strong [20][24] Other Important Information - The company announced a material price increase for fiberglass insulation materials effective January 2021 [23] - The effective tax rate for Q3 was approximately 25.8%, with expectations for a full-year rate of 25% to 27% [36] - The company has $144.5 million in working capital, excluding cash and short-term investments [40] Q&A Session Summary Question: Acquisition pace and valuation levels - Management noted that there has not been a significant change in multiples or valuation levels in the commercial space [55] Question: Insulation price increase realization - Management indicated that the September insulation price increase realization was expected to be sticky, with a tight material market affecting supply [56][58] Question: Drivers of gross margin benefits - Management highlighted that gross margin expansion was driven by pricing actions and product diversification strategies [66] Question: Pricing inputs for FY 2021 - Management discussed the strategy to avoid margin degradation seen in previous years, emphasizing the importance of maintaining good relationships with customers [70][72] Question: Commercial growth and margin degradation - Management expressed confidence that the strong performance in residential markets would offset any temporary softness in the commercial side [78] Question: Flow-through and demand outlook - Management confirmed that the demand is strong, with expectations for mid to high single-digit growth in 2021 [90][92] Question: M&A pipeline dynamics - Management stated that there is no significant difference in appetite for residential versus commercial acquisitions at this time [102] Question: Weather impact on growth - Management indicated that the growth in orders and sales activity is expected to outweigh any negative impacts from weather conditions [120]

Installed Building Products Q3 2020 Reported November 5, 2020 Disclaimer Q3 2020 IR Presentation This presentation contains "forward-looking statements" as defined under U.S. federal securities laws. Forward-looking statements are generally identified by the use of the words "will," "may," "believes," "expects," "forecasts," "intends," "anticipates," "projects," "plans" and "seeks," and, in each case their negative, and other variations or comparable terminology. Forward-looking statements are based on mana ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR Installed Building Products, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3707650 (State or other jurisdiction of incorporation or organization) 495 South High Street, Suite 50 Columbus, Ohio 43215 (Address of principal executive offices) (Zi ...

Installed Building Products, Inc. (NYSE:IBP) Q2 2020 Earnings Conference Call August 6, 2020 10:00 AM ET Company Participants Jason Niswonger - SVP of Finance & IR Jeffrey Edwards - Chairman, CEO & President Michael Miller - CFO, EVP of Finance & Director Conference Call Participants Adam Baumgarten - Credit Suisse Trey Morrish - Evercore ISI Kenneth Zener - KeyBanc Capital Markets Trey Grooms - Stephens Inc. Susan Maklari - Goldman Sachs Keith Hughes - Truist Securities Seldon Clarke - Deutsche Bank Justin ...

PART I – FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the period ended June 30, 2020, reflect revenue growth, improved profitability, and increased cash flow from operations [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2020, total assets increased to $1.131 billion, driven by higher cash, while total stockholders' equity grew to $272.7 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total Assets** | **$1,131,050** | **$1,099,479** | | Cash and cash equivalents | $252,488 | $177,889 | | Goodwill | $200,264 | $195,652 | | **Total Liabilities** | **$858,314** | **$849,448** | | Long-term debt | $544,976 | $545,031 | | **Total Stockholders' Equity** | **$272,736** | **$250,031** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q2 2020, net revenue increased 6.0% to $393.9 million and net income rose 33.9% to $25.3 million, with diluted EPS at $0.86 Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2020 | Q2 2019 | YTD 2020 | YTD 2019 | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | $393,939 | $371,814 | $791,270 | $713,949 | | Gross Profit | $127,139 | $107,257 | $243,399 | $196,695 | | Operating Income | $42,344 | $30,840 | $71,374 | $48,829 | | Net Income | $25,337 | $18,919 | $41,325 | $27,753 | | Diluted EPS | $0.86 | $0.63 | $1.39 | $0.93 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations more than doubled to $105.5 million for the first six months of 2020, driven by higher net income and favorable working capital changes Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Category | 2020 | 2019 | | :--- | :--- | :--- | | Net cash provided by operating activities | $105,525 | $52,400 | | Net cash used in investing activities | ($8,722) | ($39,284) | | Net cash used in financing activities | ($22,204) | ($7,811) | | **Net change in cash and cash equivalents** | **$74,599** | **$5,305** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, revenue recognition, business combinations, debt, and COVID-19 impact, including a new credit loss standard adoption and recent acquisitions - The company operates as a single reportable segment, primarily installing insulation and other products for residential and commercial builders across the U.S.[21](index=21&type=chunk)[22](index=22&type=chunk) - The COVID-19 pandemic did not have a significant impact on business in the first or second quarters of 2020, though future impacts remain uncertain[23](index=23&type=chunk) Revenue by End Market (Six Months Ended June 30) | End Market | 2020 Revenue | % of Total | 2019 Revenue | % of Total | | :--- | :--- | :--- | :--- | :--- | | Residential new construction | $596,661 | 75% | $543,804 | 76% | | Commercial | $147,532 | 19% | $123,920 | 17% | | Repair and remodel | $47,077 | 6% | $46,225 | 7% | - The company adopted a new credit loss standard (ASU 2016-13) on January 1, 2020, resulting in a **$1.2 million** cumulative effect adjustment to retained earnings, net of tax[45](index=45&type=chunk)[46](index=46&type=chunk) - During the first six months of 2020, the company completed three business combinations for a total cash payment of **$12.6 million**[130](index=130&type=chunk)[132](index=132&type=chunk) - Subsequent to the quarter end, on August 4, 2020, the company terminated its existing interest rate swaps for a cash payment of **$17.8 million** and entered into a new forward interest rate swap[141](index=141&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2020 performance, highlighting a 6.0% revenue increase, improved gross profit margin, and strong liquidity, while detailing COVID-19 impacts and cash preservation measures [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q2 2020 net revenue grew 6.0% to $393.9 million, with gross profit increasing 18.5% and gross margin expanding to 32.3%, driven by price increases and acquisitions Key Performance Metrics (Q2 2020 vs Q2 2019) | Metric | Q2 2020 | Q2 2019 | | :--- | :--- | :--- | | Sales Growth | 6.0% | 11.8% | | Same Branch Sales Growth | 2.3% | 7.8% | | Same Branch Volume Growth | -2.1% | 0.7% | | Same Branch Price/Mix Growth | 4.8% | 5.7% | - The company estimates that COVID-19 disruptions reduced net revenue by approximately **$10.0 million to $12.0 million** in Q2 2020[154](index=154&type=chunk) - Gross profit as a percentage of net revenue increased to **32.3%** in Q2 2020 from **28.8%** in Q2 2019, primarily due to lower fuel costs and higher selling prices on stable material costs[153](index=153&type=chunk)[154](index=154&type=chunk) [Key Factors Affecting Our Operating Results](index=32&type=section&id=Key%20Factors%20Affecting%20Our%20Operating%20Results) Operating results are influenced by material and labor costs, and the COVID-19 pandemic, which caused temporary disruptions and is expected to impact latter half 2020 results - The company has successfully passed on material price increases to customers, contributing to a **3.5%** improvement in gross profit margin in Q2 2020 compared to Q2 2019[162](index=162&type=chunk) - The COVID-19 pandemic led to temporary but significant reductions in activity in seven states and the Bay Area of California during March, April, and May 2020[166](index=166&type=chunk) - Due to the lag between housing starts and completions, the company expects to see an impact from the Q2 2020 decline in housing starts during the third and fourth quarters of 2020[167](index=167&type=chunk) - The company expects to benefit from the CARES Act, primarily through the deferral of approximately **$15 million to $20 million** in employer Social Security tax payments from 2020 to 2021 and 2022[173](index=173&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity of $430.5 million as of June 30, 2020, including $252.5 million in cash and an undrawn $200.0 million ABL Revolver Liquidity Summary (in thousands) | Component | As of June 30, 2020 | As of December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $252,488 | $177,889 | | Short-term investments | $16,688 | $37,961 | | ABL Revolver Availability (net of letters of credit) | $161,328 | $161,328 | | **Total Liquidity** | **$430,504** | **$377,178** | - Proactive steps taken to preserve cash in response to COVID-19 include: - Temporarily suspending stock repurchases - Delaying acquisition closings - Temporarily suspending executive pay increases - Eliminating non-essential travel[182](index=182&type=chunk) - Net cash provided by operating activities increased significantly to **$105.5 million** for the first six months of 2020, compared to **$52.4 million** in the prior year period, due to higher net income and tax deferrals[198](index=198&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=41&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate risk on its variable-rate debt, with hedging instruments significantly reducing exposure, though a recent change increased unhedged debt to $200.0 million - As of June 30, 2020, a hypothetical **1%** change in interest rates would impact annual interest expense by approximately **$50 thousand** due to effective hedging[207](index=207&type=chunk) - Following the termination of existing swaps on August 4, 2020, the company's exposure to interest rate risk increased significantly, with a hypothetical **1%** change in rates now impacting 2020 interest expense by approximately **$0.8 million**[207](index=207&type=chunk) [Controls and Procedures](index=42&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of June 30, 2020, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2020[212](index=212&type=chunk) - No material changes were made to internal control over financial reporting during the second quarter of 2020[213](index=213&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various claims and litigation, but management does not expect any pending matters to materially affect financial position or results - The company refers to Note 15 of the financial statements for information on legal proceedings, stating that no pending matters are expected to have a material adverse effect[128](index=128&type=chunk)[215](index=215&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The primary risk is the COVID-19 pandemic's potential impact on operations, demand, and supply chain, alongside risks associated with interest rate hedging instruments - The COVID-19 pandemic poses a significant risk, with potential adverse effects from economic slowdown, reduced demand for homes, and possible future business shutdowns in jurisdictions where construction is deemed non-essential[217](index=217&type=chunk)[221](index=221&type=chunk) - The company's use of interest rate derivatives exposes it to risks such as counterparty non-performance, mismatch between the hedge and the liability, and potential significant costs for early termination, as evidenced by a **$17.8 million** cash payment on August 4, 2020, to terminate existing swaps[226](index=226&type=chunk)[227](index=227&type=chunk)[229](index=229&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=44&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company temporarily suspended its share repurchase program in Q2 2020 due to COVID-19, with $44.9 million remaining authorized for future repurchases - The company temporarily suspended its share repurchase program in response to COVID-19 and did not repurchase any shares under the program during the three months ended June 30, 2020[236](index=236&type=chunk) - As of the end of Q2 2020, **$44.9 million** remained authorized for purchase under the company's stock repurchase plan, which is effective through March 1, 2021[228](index=228&type=chunk)[236](index=236&type=chunk) [Other Information](index=45&type=section&id=Item%205.%20Other%20Information) Base salary increases for named executive officers, previously waived due to COVID-19, were reinstated effective July 27, 2020 - Base salary increases for named executive officers, previously waived due to COVID-19, were reinstated effective July 27, 2020[233](index=233&type=chunk)

PART I – FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements detail the company's financial position and performance Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2020 (in thousands) | December 31, 2019 (in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$1,087,064** | **$1,099,479** | | Cash and cash equivalents | $187,187 | $177,889 | | Goodwill | $198,664 | $195,652 | | **Total Liabilities** | **$841,267** | **$849,448** | | Long-term debt | $545,552 | $545,031 | | **Total Stockholders' Equity** | **$245,797** | **$250,031** | Condensed Consolidated Statement of Operations Highlights (Unaudited) | Metric | Three months ended March 31, 2020 (in thousands) | Three months ended March 31, 2019 (in thousands) | | :--- | :--- | :--- | | Net revenue | $397,331 | $342,135 | | Gross profit | $116,260 | $89,438 | | Operating income | $29,030 | $17,989 | | **Net income** | **$15,988** | **$8,834** | | Diluted net income per share | $0.53 | $0.30 | Condensed Consolidated Statement of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Three months ended March 31, 2020 (in thousands) | Three months ended March 31, 2019 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $35,912 | $15,889 | | Net cash used in investing activities | $(8,099) | $(13,959) | | Net cash used in financing activities | $(18,514) | $(4,226) | | **Net change in cash and cash equivalents** | **$9,299** | **$(2,296)** | [Note 1 - Organization](index=8&type=section&id=Note%201%20-%20Organization) The company installs building products across the U.S. and noted no material Q1 2020 COVID-19 impact - The company operates in over 180 locations, installing insulation and other products for residential and commercial builders, and functions as a single operating and reportable segment[20](index=20&type=chunk)[21](index=21&type=chunk) - Management stated that **COVID-19 did not materially impact the business in Q1 2020**, but acknowledged significant uncertainty regarding future impacts[22](index=22&type=chunk) [Note 3 - Revenue Recognition](index=10&type=section&id=Note%203%20-%20Revenue%20Recognition) Revenue is primarily recognized over time, with residential new construction being the largest market segment Revenue by End Market (Three months ended March 31) | End Market | 2020 Revenue (in thousands) | 2020 % of Total | 2019 Revenue (in thousands) | 2019 % of Total | | :--- | :--- | :--- | :--- | :--- | | Residential new construction | $298,340 | 75% | $261,310 | 77% | | Repair and remodel | $24,043 | 6% | $21,521 | 6% | | Commercial | $74,948 | 19% | $59,304 | 17% | | **Total Net Revenues** | **$397,331** | **100%** | **$342,135** | **100%** | Revenue by Product (Three months ended March 31) | Product | 2020 Revenue (in thousands) | 2020 % of Total | 2019 Revenue (in thousands) | 2019 % of Total | | :--- | :--- | :--- | :--- | :--- | | Insulation | $259,701 | 65% | $221,223 | 65% | | Waterproofing | $28,505 | 7% | $22,385 | 7% | | Shower doors, shelving and mirrors | $27,015 | 7% | $23,917 | 7% | | Other building products | $82,110 | 21% | $74,810 | 21% | | **Total Net Revenues** | **$397,331** | **100%** | **$342,135** | **100%** | - As of March 31, 2020, the company had **$91.3 million in remaining performance obligations** from uncompleted contracts, expected to be recognized over the next 18 months[41](index=41&type=chunk) [Note 7 - Long-Term Debt](index=14&type=section&id=Note%207%20-%20Long-Term%20Debt) Total long-term debt stood at $569.8 million, composed mainly of Senior Notes and a term loan Long-Term Debt Composition (as of March 31, 2020) | Debt Instrument | Net Amount (in thousands) | | :--- | :--- | | Senior Notes due 2028 | $295,322 | | Term loan | $198,408 | | Vehicle and equipment notes | $73,097 | | Various notes payable | $2,966 | | **Total** | **$569,793** | - The company has a $200.0 million asset-based lending (ABL) revolver with **$161.3 million of remaining availability** as of March 31, 2020[64](index=64&type=chunk) [Note 11 - Stockholders' Equity](index=20&type=section&id=Note%2011%20-%20Stockholders%27%20Equity) The company repurchased $15.8 million of its common stock and subsequently suspended its repurchase program - In Q1 2020, the company **repurchased approximately 443,000 shares** of common stock for an aggregate price of **$15.8 million**[99](index=99&type=chunk) - The company has **temporarily suspended its share repurchase program** in response to COVID-19, with **$44.9 million remaining authorized** for repurchases[99](index=99&type=chunk) [Note 16 - Business Combinations](index=24&type=section&id=Note%2016%20-%20Business%20Combinations) Two business combinations were completed in Q1 2020 for a total purchase price of $11.1 million - During Q1 2020, the company completed two business combinations, paying **$8.5 million in cash** for a total purchase price of **$11.1 million**[126](index=126&type=chunk)[130](index=130&type=chunk) - The largest acquisition in Q1 2020 was Royals Commercial Services, Inc for a total purchase price of **$10.1 million**[127](index=127&type=chunk)[130](index=130&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2020 revenue grew 16.1% driven by acquisitions and organic growth, with strong liquidity maintained [2020 First Quarter Highlights](index=28&type=section&id=2020%20First%20Quarter%20Highlights) Q1 2020 featured a 16.1% increase in net revenue and a 30.0% rise in gross profit year-over-year Key Performance Metrics (Q1 2020 vs Q1 2019) | Metric | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Sales Growth | 16.1% | 13.4% | | Same Branch Sales Growth | 12.1% | 7.4% | | Single-Family Sales Growth | 11.0% | 14.4% | | Residential Sales Growth | 14.2% | 13.8% | | Same Branch Price/Mix Growth | 12.1% | 4.1% | - Net revenue **increased 16.1% to $397.3 million**, and gross profit **increased 30.0% to $116.3 million** in Q1 2020 compared to the prior year period[144](index=144&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Gross profit margin improved to 29.3% due to higher selling prices, while operating expenses rose to support growth - Gross profit percentage **increased to 29.3%** in Q1 2020 from 26.1% in Q1 2019, primarily due to higher selling prices[150](index=150&type=chunk) - Administrative expenses **increased to 15.1% of net revenue** in Q1 2020, mainly due to increased variable employee expenses and higher health insurance costs[151](index=151&type=chunk)[153](index=153&type=chunk) - Interest expense **rose 29.6% to $7.4 million** in Q1 2020, primarily due to increased debt levels from 2019 financing transactions[155](index=155&type=chunk) [COVID-19 Impacts](index=32&type=section&id=COVID-19%20Impacts) Management anticipates future negative impacts from COVID-19 despite minimal effect in Q1 2020 - Management believes a sizable industry backlog will provide short-term relief, noting that **April 2020 net revenue increased approximately 2%** year-over-year[163](index=163&type=chunk) - The company anticipates a market decline will have a more pronounced impact on business in the **third and fourth quarters of 2020**[165](index=165&type=chunk) - The company expects to benefit from the CARES Act by **deferring an estimated $15 million to $20 million** in employer Social Security tax payments[168](index=168&type=chunk) [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position and has taken proactive steps to preserve cash Total Liquidity Position | Component | As of March 31, 2020 (in thousands) | As of December 31, 2019 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $187,187 | $177,889 | | Short-term investments | $26,487 | $37,961 | | ABL Revolver Availability | $161,328 | $161,328 | | **Total Liquidity** | **$375,002** | **$377,178** | - In response to COVID-19, the company has taken actions to preserve cash, including **temporarily suspending stock repurchases** and delaying acquisition closings[177](index=177&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuation, which is substantially mitigated by swaps - As of March 31, 2020, the company had $198.4 million in variable-rate debt, but **interest rate swaps hedged $195.5 million** of this amount[205](index=205&type=chunk) - A hypothetical one percentage point change in interest rates on unhedged debt would change annual interest expense by **approximately $45,000**[205](index=205&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were deemed effective, with no material changes to internal controls in Q1 2020 - The CEO and CFO concluded that the company's **disclosure controls and procedures were effective** as of March 31, 2020[209](index=209&type=chunk) - **No changes in internal control over financial reporting** occurred during Q1 2020 that materially affected, or are reasonably likely to materially affect, internal controls[210](index=210&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) Pending legal matters are not expected to have a material adverse effect on the company's financial position - The company states that it does not believe the outcome of any pending legal matters will have a **material adverse effect** on its financial position or results[124](index=124&type=chunk)[212](index=212&type=chunk) [Item 1A. Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) A significant risk factor related to the COVID-19 outbreak has been added, detailing potential adverse effects - The **COVID-19 outbreak is identified as a material risk**, with potential adverse effects on business, financial condition, and operating results[214](index=214&type=chunk) - A key risk is that the company's operations, currently deemed **"essential"** in most markets, could have that classification changed, leading to operational halts[216](index=216&type=chunk) - The pandemic may **reduce employment and consumer confidence**, decreasing demand for homes and negatively impacting the homebuilding industry[217](index=217&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 442,542 shares for $15.8 million in March 2020 before suspending its program Stock Repurchase Activity (Q1 2020) | Period | Total Shares Purchased | Average Price Paid Per Share | Total Cost (approx.) | | :--- | :--- | :--- | :--- | | Jan 2020 | — | $— | $— | | Feb 2020 | — | $— | $— | | Mar 2020 | 442,542 | $35.59 | $15.8 million | | **Total Q1** | **442,542** | **$35.59** | **$15.8 million** | - As of March 31, 2020, **$44.9 million remained available** for purchase under the company's stock repurchase program, which has been temporarily suspended[223](index=223&type=chunk) [Item 3. Defaults Upon Senior Securities](index=43&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no material defaults upon senior securities during the period - There have been **no material defaults** in senior securities[224](index=224&type=chunk) [Item 4. Mine Safety Disclosures](index=43&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[225](index=225&type=chunk) [Item 5. Other Information](index=43&type=section&id=Item%205.%20Other%20Information) No other information was reported for this item - None[226](index=226&type=chunk) [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications and Inline XBRL data files

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-36307 Installed Building Products, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3707650 (State or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From To Commission File Number: 001-36307 Installed Building Products, Inc. (Exact name of registrant as specified in its charter) Delaware 45-3707650 ( ...