Renewable energy and infrastructure solutions provider Gibraltar Industries (NASDAQ:ROCK) will be announcing earnings results tomorrow before the bell. Here’s what you need to know.
Gibraltar met analysts’ revenue expectations last quarter, reporting revenues of $361.2 million, down 7.6% year on year. It was a mixed quarter for the company, with full-year EPS guidance slightly topping analysts’ expectations but EBITDA in line with analysts’ estimates.
Is Gibraltar a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Gibraltar’s revenue to decline 6.3% year on year to $307.9 million, a reversal from the 4.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.91 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gibraltar has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Gibraltar’s peers in the home construction materials segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Simpson delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 4.3%, and Griffon reported a revenue decline of 1.7%, falling short of estimates by 0.8%. Simpson traded up 1.5% following the results while Griffon was also up 8.8%.
Read our full analysis of Simpson’s results here and Griffon’s results here.
Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election’s conclusion added further sparks to the market, and while some of the home construction materials stocks have shown solid performance, the group has generally underpeformed, with share prices down 4.4% on average over the last month. Gibraltar is down 5% during the same time and is heading into earnings with an average analyst price target of $87 (compared to the current share price of $59.91).
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