Gibraltar Industries Second Quarter 2024 Earnings: Misses Expectations

In This Article:

Gibraltar Industries (NASDAQ:ROCK) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$353.0m (down 3.3% from 2Q 2023).

  • Net income: US$32.2m (up 4.8% from 2Q 2023).

  • Profit margin: 9.1% (up from 8.4% in 2Q 2023). The increase in margin was driven by lower expenses.

  • EPS: US$1.05 (up from US$1.01 in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Gibraltar Industries Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Building industry in the US.

Performance of the American Building industry.

The company's shares are down 5.1% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Gibraltar Industries' balance sheet and an in-depth analysis of the company's financial position.

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