fourth call. quarter Jason, everyone the on have Thanks our you good talk I'm opportunity to today's happy of results. us morning and joining to to about all to
questions. call As in position call and Michael detail usual, turn then today's IBP's we I more Miller, some will before who results capital discuss the over start take and our highlights will with CFO, your to
XXXX and I since am and XXXX pleased to earnings have our another revenue we report year of IPO. during earnings that and every IBP strong revenue year produced record grown
we the was have of higher across nationwide representing developed and the times rate from almost the team in our direct of employees. XX%. of a and conditions continuing growth is than XXXX, markets compound annual operations net higher, our In dedication This compound of consistent fact result performance work model hard is of improving business three revenue growth annual while five XX%, rate times a income representing
strategies and growth financial local end with employees have to pursuing our shareholders, markets, communities. and have expansion, platform the value use to customers, the for continue today we are we corresponds review assembled, I'd our my and experienced we time like to The creating
at residential, multi-family of of residential single-family across led our detail, a markets in increase many XXXX X.X% more strong increased geographies. end X% was Looking completions growth a and by year in completions. commercial XXXX, our Total in
favorable low housing mortgage XXXX demand years. their in as more Single-family benefited demographics, homebuying from rates entered millennials and
develop homes. land continue supporting throughout believe positions the these come. improved We trends stabilization their growth more addition, in and to the further as homebuilders' entry-level adjusted year many to industry years In approaches communities will affordably-priced the
XXXX XX% XX.X% increased the year the prior XXXX. our increased year fourth multi-family revenue over the full and to compared In quarter, quarter
We continue result of multi-family our a end the to direct perform strategy. market, as sales well in
in other As in the sales focused multi-family remember to been insulation historically in didn't may leverage insulation we CQ uniquely acquired we multi-family you serve approach selling Florida-based installer their new Insulation, multi-family have markets customers XXXX, CQ a used and branches customers. to successful IBP's market. extremely end that on services has
While across most further branches of additional we has country. the throughout leverage our there to southern existing the are believe multi-family in their U.S., to-date success CQ's opportunities been sales platform
in XXXX expected, in than XXXX. the trends benefited environment a what As with industry also more from line pricing historical experienced
throughout insulation and improve suppliers that structure material XXXX, worked cost unprecedented to our environment and recover pricing customers from to the our XXXX we XXXX. occurred inflationary During and with closely
results fourth as year. the was for Recent success in the reflect and X.X% to highest price/mix of XXXX improvement quarter, X.X% the full up the continued during strategies accelerated our
the in in strategies to we material environment pricing the from with expect pricing will and cost we believe continue place. be XXXX and in benefit line We historic will trends
our business. diversifying to increasing In These sales geographic our leverages strategies. our cost benefit market brand's in market complement structure product results and at cyclicality base, XXXX which and product diversification end local an have consequently from end financial ultimately are our environment in continued strategies aimed improved and markets addition customer to our dampens our
XXXX in in XX.X% end XXXX. our commercial of as growth market. of compared Revenue revenue to customers year commercial strong another was from XXXX in XX.X%
Our Alpha business and instruction our strategy. a been insulation key waterproofing to has contributor large commercial growth commercial
number made meaningful properly business. of a Since and Alpha we XXXX, to this of we acquired support in investments have January scale
During expansion Alpha assess XXXX, that opened de Phoenix. in markets market. attractive continue acquisition in end opportunities, to market priorities growth commercial growth other location one but will will novo locations focus We feel we continue in on we opened this and our have nevertheless to
to continued Similar product XX% From diversification right XXXX more to within the in we for of and revenue total the active year. our believe perspective, market well-positioned have in a residential increased strategy our compared non-insulation We we commercial believe the to a installation markets, team begin platform market. to acquisition is commercial prior the growth. XX% revenue
Our take products products insulation whereas and and other manufacture to enhances we the installer these believe product solution employees our strengthens purchase strategies We install. to the providing jobsite and service customers relationship. low-cost the them from with our high-quality similar to the direct
more services, As typically producing permit sales established branches IBP provide higher than markets a per result, insulation-only amount and mature branches. local of in housing profitability installation a greater
was year XXXX Additionally another strong of growth. acquisition
we completed million acquisitions total, annual revenue. of In $XX approximately eight representing
annual This previous residential $X.X Building predominantly was acquired insulation acquisitions Gulf insulation foam we've Coast installers new installer includes installer fourth of with the Premier geographies. and and lower the in of annual Insulation, experienced garage and While a what of Supply fiberglass acquisitions the were XXXX LLC, quarter million years, door with a Florida than revenue acquisitions and in in revenues revenues in $XX spray Utah million. insulation of number
dedication grown The District growth the we we more U.S. Columbia location all commitment and have in IBP's strategy result over employees have platform locations our one created the employees. of with of from XX and X,XXX than success organic the Columbus, across the XXXX and to XXX in of states acquisition Ohio direct is a of serving continental Since
employees, past. I've a to topic turn Speaking to moment let's our of a of the spoken in for discussion
investment number programs progress XXXX. As of made I for and of would further the update we the to time you have made you implementing resources know on employees. we a of in significant our benefit like a
program. employees X,XXX financial our participated have than More in wellness
a on debt As you program personal focused and may begin for down recall paying saving budget, saving, is helping retirement. to establishing people the
those are the of with encouraged results program. participation We have pleased of who survey by the rate and completed
funds surveyed, XX% set have with to deal Of financial the aside emergency. now those
those tools and and the debt and have has XX% now saving repayment necessary program a employees in knowledge retirement. be providing with place for plan control XX% with The reduce success the productive. are their stress of been futures, Additionally to a major financial more
more The contributions every program stock than XXXX our non-management commitment the and this stock received gain eligibility To-date program employees. have through employees year. IBP of longevity more most-tenured and recognizes
am family employees pleased exceeded Earlier to foundation. to donate report hardship this announced and first for we in help to grants nonprofit Foundation year that members nonprofit I financial the their XX,XXX pledge the renovating Products with year, more nearly than our million $X announced Building in of need. and Installed or in the grants building employees we charities have XX goal to to dedicated providing to the $XXX,XXX homes scholarships employees in those a due organizations and to to
within on programs thing. do the and improved We as had the experience profound our the to branch on started installers employee our based the right desire IBP. direct engagement each communities at and has of from and employees, This a these well input company in effect as
employee to significantly turnover below averages. Since XXXX XX% the helped of level industry have beginning reduce these actions by a approximately
most across the country, retain As have employment and historic remain highs able we attract, of talent. to rates near been develop
platform success the throughout my dynamics to and the revenue markets our this strong our record the results will end multi-family Michael, expect year single-family, XXXX of we across benefit commercial and conclude growth we call our financial before To our and remarks created initiatives. positive have and of XXXX. Industry prepared results another remain over turning earnings, demonstrate
I With details this to our to over more on quarter to results. turn the overview, call provide would Michael fourth like
