Gibraltar Industries (NASDAQ: ROCK) reported Q4 EPS of $0.30, $0.06 better than the analyst estimate of $0.24. Revenue for the quarter came in at $232 million versus the consensus estimate of $228.5 million.

GUIDANCE:

Gibraltar Industries sees FY2017 EPS of $1.75-$1.85, versus the consensus of $1.85. Gibraltar Industries sees FY2017 revenue of $1 billion, versus the consensus of $1.02 billion.

“We concluded a successful year with a solid fourth-quarter performance in which we exceeded our expectations for profitability,” said Chief Executive Officer Frank Heard. “Gibraltar’s continued success is the result of the ongoing execution of all four of our strategic pillars to drive the sustainable transformation of our business. During the fourth quarter, the Residential Products and the Renewable Energy and Conservation segments continued to generate strong bottom-line results through our 80/20 simplification initiatives. As a result, we reported a 13 percent increase in consolidated adjusted operating income despite an 18 percent decline in consolidated net sales.

“In our Industrial and Infrastructure segment, we are proactively taking actions to address our cost structure to minimize the impact of ongoing market pressures including weaker incoming order volume,” said Heard. “To that end, after divesting our European industrial operation in the second quarter, we announced plans in December to exit our industrial U.S. bar grating product line, along with a small European residential solar racking business. While negatively affecting revenues going forward, this action will be accretive to our earnings beginning in the first quarter 2017.

“By focusing on operational excellence, portfolio management, product innovation and accretive acquisitions, we have delivered enhanced profitability at a higher rate of return with a more efficient use of capital every quarter for the past two years,” said Heard. “Two years into our five-year transformative strategy, we have added nearly 900 basis points to adjusted gross margin, doubled our consolidated adjusted operating margin to 9.4 percent, nearly tripled the return on invested capital to 11.7 percent and positioned our business to generate a higher level of returns going forward.”

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