COLUMBUS, Ohio (AP) _ Installed Building Products Inc. (IBP) on Friday reported first-quarter earnings of $16 million.

On a per-share basis, the Columbus, Ohio-based company said it had profit of 53 cents. Earnings, adjusted for one-time gains and costs, were 78 cents per share.

The residential insulation installer posted revenue of $397.3 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $381.6 million.

Installed Building Products shares have dropped 25% since the beginning of the year. The stock has declined 5.5% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IBP at https://www.zacks.com/ap/IBP

Automated Insights, source Associated Press News