Gibraltar Industries (NASDAQ:ROCK) Updates FY 2024 Earnings Guidance

Gibraltar Industries (NASDAQ:ROCK) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.570-4.820 for the period, compared to the consensus estimate of 4.710. The company issued revenue guidance of $1.4 billion-$1.4 billion, compared to the consensus revenue estimate of $1.4 billion. Gibraltar Industries also updated its FY24 guidance to $4.57-4.82 EPS.

Gibraltar Industries Stock Performance

Shares of ROCK stock traded down $8.31 during mid-day trading on Wednesday, reaching $71.90. 18,611 shares of the company were exchanged, compared to its average volume of 169,771. Gibraltar Industries has a fifty-two week low of $59.66 and a fifty-two week high of $87.40. The company has a market capitalization of $2.19 billion, a P/E ratio of 19.70 and a beta of 1.15. The business’s 50 day simple moving average is $72.39 and its 200 day simple moving average is $75.75.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. Gibraltar Industries had a net margin of 8.31% and a return on equity of 14.39%. The business had revenue of $292.51 million during the quarter, compared to the consensus estimate of $296.29 million. During the same quarter last year, the company earned $0.70 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. On average, analysts forecast that Gibraltar Industries will post 4.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of 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.