Gibraltar Industries (NASDAQ:ROCK) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Gibraltar Industries (NASDAQ:ROCK) announced its quarterly earnings data on Wednesday. The construction company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.08), Briefing.com reports. The company had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $373.60 million. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. Gibraltar Industries updated its FY24 guidance to $4.57-4.82 EPS and its FY 2024 guidance to 4.570-4.820 EPS.

Gibraltar Industries Trading Down 4.6 %

ROCK stock traded down $3.41 during trading on Thursday, hitting $70.86. 306,153 shares of the company’s stock were exchanged, compared to its average volume of 172,981. The business has a 50-day moving average price of $72.38 and a two-hundred day moving average price of $75.70. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 19.05 and a beta of 1.15. Gibraltar Industries has a 52-week low of $59.66 and a 52-week high of $87.40.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Gibraltar Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.