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

Gibraltar Industries (NASDAQ:ROCK) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.110-4.250 for the period, compared to the consensus earnings per share estimate of 4.580. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.4 billion. Gibraltar Industries also updated its FY24 guidance to $4.11-4.25 EPS.

Gibraltar Industries Stock Down 4.3 %

ROCK opened at $67.13 on Friday. The stock’s fifty day moving average is $68.03 and its two-hundred day moving average is $71.46. The company has a market capitalization of $2.05 billion, a P/E ratio of 17.81 and a beta of 1.14. Gibraltar Industries has a 52 week low of $59.66 and a 52 week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data 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). Gibraltar Industries had a net margin of 8.49% and a return on equity of 13.91%. The firm had revenue of $353.00 million during the quarter, compared to the consensus estimate of $373.60 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. Equities analysts anticipate that Gibraltar Industries will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Gibraltar Industries from a strong-buy rating to a buy rating in a 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.