Gibraltar Industries (ROCK) Tops Q1 EPS by 3c, Revenues Beat; Offers FY21 EPS/Revenues Outlook

Gibraltar Industries (NASDAQ: ROCK) reported Q1 EPS of $0.53, $0.03 better than the analyst estimate of $0.50. Revenue for the quarter came in at $287.6 million versus the consensus estimate of $274.75 million.

“Our first quarter results reflect solid execution and participation gains across our markets while continuing to operate through the pandemic as well as challenging weather across the country and supply chain and labor availability dynamics,” President and Chief Executive Officer Bill Bosway stated. “Revenue increased 34%, adjusted EPS grew 33% and our order backlog strengthened to $355 million. The integrations of TerraSmart and Sunfig in our Renewables business are on plan, and we have made significant progress with the integration of Thermo Energy Solutions in our Agtech business. Overall, we are off to a solid start in 2021.”

GUIDANCE:

Gibraltar Industries sees FY2021 EPS of $3.30-$3.47, versus the consensus of $3.40. Gibraltar Industries sees FY2021 revenue of $1.3-1.35 billion, versus the consensus of $1.32 billion.

“While we have solid end market demand and strong order backlog, general market challenges remain – the pandemic, general inflation, labor availability, and supply chain dynamics – and arguably, the current environment is more challenging than what we experienced in 2020. We will remain focused on execution and controlling what we can control, continuing to work on the business, and using our healthy balance sheet to invest in both organic and inorganic initiatives,” commented Mr. Bosway.

“Our guidance for revenue and earnings for the full year 2021 remains unchanged. Consolidated revenue is expected to range between $1.3 billion and $1.35 billion.

“GAAP EPS is expected to range between $2.78 and $2.95 compared to $2.53 in 2020, and adjusted EPS is expected to range between $3.30 and $3.47 compared to $2.73 in 2020.”

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

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