Gibraltar Industries (ROCK) Tops Q3 EPS by 5c, Revenues Beat

Gibraltar Industries (NASDAQ: ROCK) reported Q3 EPS of $1.02, $0.05 better than the analyst estimate of $0.97. Revenue for the quarter came in at $329.7 million versus the consensus estimate of $326.67 million.

• Q3 Revenues Grow 10%, GAAP and Adjusted EPS Grow 36% and 12%, Respectively
• Backlog of $304 million up 26% on Renewable Energy and Conservation Demand
• Strong Balance Sheet and Liquidity Supports Execution and Ongoing Investment in the Business
• Completes Acquisition of Architectural Mailboxes in Residential

Business Outlook

Gibraltar delivered solid revenue and adjusted EPS growth through the first three quarters, and expects fourth quarter performance to surpass 2019 results. Given the ongoing level of uncertainty related to the pandemic, the economy, and the upcoming election, Gibraltar is maintaining the practice of providing qualitative guidance.

“While our momentum and end market trends continue to be positive, we are closely monitoring the everchanging pandemic landscape and potential impact on the U.S. and global economy,” Bosway commented. “We remain focused on executing our operating playbook, maintaining a safe environment for our people, and meeting our customers’ needs every day. We will also continue key organic and inorganic investments to strengthen our business platforms for the markets we serve.”

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

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