Gibraltar Industries (NASDAQ:ROCK) Updates FY24 Earnings Guidance

Gibraltar Industries (NASDAQ:ROCK) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $4.11-4.25 for the period, compared to the consensus estimate of $4.59. The company issued revenue guidance of $1.31-1.42 billion, compared to the consensus revenue estimate of $1.40 billion. Gibraltar Industries also updated its Q3 guidance to $1.25-1.28 EPS.

Gibraltar Industries Price Performance

ROCK opened at $70.16 on Friday. The firm has a 50 day simple moving average of $68.02 and a 200 day simple moving average of $71.55. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 18.61 and a beta of 1.14. Gibraltar Industries has a fifty-two week low of $59.66 and a fifty-two week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last released its earnings results on Wednesday, July 31st. The construction company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.08). The company had revenue of $353.00 million during the quarter, compared to analyst estimates of $373.60 million. Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. As a group, analysts expect that Gibraltar Industries will post 4.6 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Gibraltar Industries from a strong-buy rating to a buy rating in a research report on Friday, August 2nd.

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.