Gibraltar Industries (ROCK) Tops Q2 EPS by 3c, Miss on Revenues; Maintains FY17 Outlook

Gibraltar Industries (NASDAQ: ROCK) reported Q2 EPS of $0.43, $0.03 better than the analyst estimate of $0.40. Revenue for the quarter came in at $248 million versus the consensus estimate of $251.97 million.

Business Outlook

“Looking toward the second half of 2017, we continue to expect generally favorable market conditions for each of our segments, increased bidding activity and continued backlog growth in both our Industrial & Infrastructure and Renewable Energy & Conservation segments, as well as increased revenues from our new product development initiatives,” said Heard. “As we head into our seasonally strongest quarter, we are maintaining our full year guidance.

“For the second half of 2017 our financial priorities will be to accelerate sales through innovative products, seek value-added acquisitions in attractive end markets, and continue to advance our 80/20 initiatives,” concluded Heard.

The Company is maintaining its full-year revenue guidance in the range of $970 million and $980 million. The Company expects GAAP EPS to be between $1.37 and $1.50 per diluted share, or $1.57 to $1.70 on an adjusted basis. In 2016, GAAP EPS was $1.05, or $1.67 on an adjusted basis. While year-over-year adjusted earnings are projected to be flat, the Company continues to expect increasing ROIC and liquidity.

For the third quarter of 2017, the Company is expecting revenue in the range of $275 million to $280 million, and GAAP EPS to be between $0.51 and $0.58 per diluted share, or $0.58 to $0.65 per diluted share on an adjusted basis.

GUIDANCE:

Gibraltar Industries sees Q1 2017 EPS of $0.58-$0.65. Gibraltar Industries sees Q1 2017 revenue of $970-980 million, versus the consensus of $974.57 million.

For earnings history and earnings-related data on Gibraltar Industries (ROCK) click here.

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