Gibraltar Industries Azioni (NASDAQ: ROCK)

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Gibraltar Industries

Gibraltar Industries Inc manufactures and provides products and services for the Renewable energy, Residential, Agtech, and Infrastructure markets. The Renewables Segment is engaged in designing, engineering, manufacturing, and installing solar racking and electrical balance systems. Agtech Segment provides growing and processing solutions including the designing, engineering, manufacturing, full-scope construction, maintenance, and support of greenhouses and indoor growing operations, and botanical extraction systems. It derives key revenue from the Residential segment which offers roof and foundation ventilation products, single point and centralized mail systems electronic package solutions, and Retractable awnings and gutter guards, among other products.

Gibraltar Industries, Inc. - Common Stock

Gibraltar Industries Inc

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Shares of companies within the broader industrial sector are trading higher after Donald Trump won the 2024 presidential election.

Gibraltar Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROCK#NASDAQ">ROCK</a>) affirms FY2024 GAAP EPS guidance from $3.57-3.71 to $3.57-3.71 vs $4.01 analyst estimate. Affirms FY2024 sales outlook from $1.31 billion-1.33 billion to $1.31 billion-1.33 billion.

News

Guidance

Gibraltar Industries Affirms FY2024 GAAP EPS Guidance from $3.57-3.71 to $3.57-3.71 vs $4.01 Est; Affirms FY2024 Sales Guidance from $1.31B-1.33B to $1.31B-1.33B.

Gibraltar Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROCK#NASDAQ">ROCK</a>) affirms FY2024 Adj EPS guidance from $4.11-4.25 to $4.11-4.25 vs $4.15 analyst estimate. Affirms FY2024 sales outlook from $1.31 billion-1.33 billion to $1.31 billion-1.33 billion vs $1.32 billion estimate.

Gibraltar Industries Affirms FY2024 Adj EPS Guidance from $4.11-4.25 to $4.11-4.25 vs $4.15 Est; Affirms FY2024 Sales Guidance from $1.31B-1.33B to $1.31B-1.33B vs $1.32B Est.

Gibraltar Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROCK#NASDAQ">ROCK</a>) reported quarterly earnings of $1.27 per share which beat the analyst consensus estimate of $1.25 by 1.6 percent. The company reported quarterly sales of $361.196 million which beat the analyst consensus estimate of $360.433 million by 0.21 percent. This is a 7.56 percent decrease over sales of $390.744 million the same period last year.

Earnings

Earnings Beats

Gibraltar Industries Q3 2024 Adj. EPS $1.27 Beats $1.25 Estimate, Sales $361.196M Beat $360.433M Estimate

Gibraltar Industries shares are trading lower after the company reported worse-than-expected preliminary Q3 financial results and cut its FY24 guidance.

The company expects net sales to decline and to report GAAP and Adjusted EPS below last year for the&nbsp;third quarter.

Gibraltar Reports Preliminary Q3 Net Sales Of $359M - $362M (Est $395.47M), Adjusted EPS Of $1.25 - $1.28 (Est $1.46)

Gibraltar Cuts FY24 Net Sales Outlook From $1.38B - $1.42B To $1.31B - $1.33B (Est $1.391B); Adjusted EPS Outlook From $4.57 - $4.82 To $4.11 - $4.25 (Est $4.58)

Gibraltar Revises FY24 Outlook As Solar Industry Headwinds Continue To Impact Renewables Business; Residential Market Slowdown Continues In H2

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Shares of housing-related stocks are trading higher after the Fed policy decision to cut rates by 50 basis points, which could help curb housing unaffordability and increase demand.

Gibraltar Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROCK#NASDAQ">ROCK</a>) has outperformed the market over the past 10 years by 4.49% on an annualized basis producing an average annual return of 15.27%. Currently, Gibraltar Industries has a market capitalization of $2.02 billion. 
Buying $100 In ROCK: If an investor had bought $100 of ROCK stock 10 years ago, it would be worth $415.63 today based on a price of $66.21 for ROCK at the time of writing.
<h3>Gibraltar Industries's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724342466_0_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In Gibraltar Industries 10 Years Ago Would Be Worth This Much Today

Lovechio, who was previously Chief Financial Officer, North America Region for Whirlpool Corporation, a kitchen and laundry appliance company with reported 2023 revenue of approximately&nbsp;$19 billion, will succeed Timothy F. Murphy who recently announced his plans to retire.
Murphy will continue with Gibraltar through early 2025 and will oversee the onboarding and transition process for Lovechio while continuing to lead ongoing strategic initiatives.

Management

Gibraltar Industries Appoints Joseph Lovechio As CFO, Effective August 19, 2024

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Shares of companies within the broader industrial sector are trading lower amid overall market weakness following weak US data.

Gibraltar Industries shares are trading lower after the company reported worse-than-expected Q2 financial results and cut its FY24 net sales guidance below estimates.

Gibraltar Cuts FY24 Consolidated Net Sales Forecast From $1.43B - $1.48B To $1.38B - $1.42B, Est $1.433B

Gibraltar Says Outlook For FY24 Adjusted EPS Is Unchanged, Adjusted EPS Continuing To Range $4.57 - $4.82,  Est $4.71

Gibraltar Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROCK#NASDAQ">ROCK</a>) reported quarterly earnings of $1.18 per share which missed the analyst consensus estimate of $1.25 by 5.6 percent. This is a 2.61 percent increase over earnings of $1.15 per share from the same period last year. The company reported quarterly sales of $353.005 million which missed the analyst consensus estimate of $373.600 million by 5.51 percent. This is a 3.26 percent decrease over sales of $364.914 million the same period last year.

Earnings Misses

Gibraltar Industries Q2 2024 Adj. EPS $1.18 Misses $1.25 Estimate, Sales $353.005M Miss $373.600M Estimate

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Shares of construction and building product companies are trading higher after store sales of building material and garden supplies rose 1.4% in June.

Shares of homebuilders, building companies and housing-related stocks are trading higher as Treasury yields drop following softer-than-expected June CPI figures.

Gibraltar Reaffirms 2024 Outlook; 4-9% Revenue Growth, 12-20% EPS Growth

Gibraltar Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROCK#NASDAQ">ROCK</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.72 by 11.11 percent. The company reported quarterly sales of $292.500 million which missed the analyst consensus estimate of $296.300 million by 1.28 percent. This is a 0.26 percent decrease over sales of $293.267 million the same period last year.

Gibraltar Industries Q1 2024 Adj EPS $0.80 Beats $0.72 Estimate, Sales $292.500M Miss $296.300M Estimate

The materials sector is flourishing with technological advancements, stable demand, and rising prices. Amid robust industry growth, quality materials stocks ESAB (ESAB), Gibraltar Industries (ROCK), and Valmont Industries (VMI) could be ideal buys as they are ready to surge amid the commodity boom. Read more... With the growing infrastructure investments, rising commercial projects, and changing consumer preferences, the materials market is expected to experience rapid growth in the upcoming years. Also, commodity prices are projected to remain above <a href="https://blogs.worldbank.org/en/developmenttalk/the-commodity-markets-outlook-in-eight-charts">pre-pandemic levels this year and the next</a>.
Given this backdrop, it could be wise to invest in fundamentally strong materials stocks ESAB Corporation (<a href="https://stocknews.com/stock/ESAB/">ESAB</a>), Gibraltar Industries, Inc. (<a href="https://stocknews.com/stock/ROCK/">ROCK</a>), and Valmont Industries, Inc. (<a href="https://stocknews.com/stock/VMI/">VMI</a>), poised to surge amid the commodity boom.
Driven by infrastructure investments, increasing initiatives, supply chain resilience, and geopolitical factors, the metal market is expected to expand at a <a href="https://www.giiresearch.com/report/tbrc1435449-metal-global-market-report.html#:~:text=The%20metal%20market%20size%20has,(CAGR)%20of%205.6%25.">CAGR of 4.7%</a>, resulting in a market value of $5.27 trillion by 2028. Trends like technological advancements in metal recycling, green technologies, and growing digital marketplaces will lead the market demand.
The <a href="https://www.barrons.com/market-data/indexes/djusim?countrycode=xx">Dow Jones U.S. industrial metals index</a> closed the last session at $521.42. It grew above 17% in the last 12 months.
Further, property ownership has increased in the last few years, boosting the market growth prospects of the construction materials market. The <a href="https://www.fortunebusinessinsights.com/construction-materials-market-107415">global construction materials market</a> is expected to grow to $1.87 trillion by 2032, at a CAGR of 3.9%.
The market is prospering with rising commercial projects, infrastructure investments, and intense competition for clean highways and public infrastructure.
Considering these encouraging economic trends, let's delve deeper into the fundamentals of top <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> stocks.
Stock #3: ESAB Corporation (<a href="https://stocknews.com/stock/ESAB/">ESAB</a>)
ESAB is engaged in the fabrication and gas control technology. The company provides advanced equipment, consumables, gas control equipment, robotics, and digital solutions, which are used in cutting, joining, and automated welding.
On June 4, ESAB announced a distribution agreement with INFRA Group, a leading Mexican provider of industrial and medical gases. The collaboration is aimed at expanding the availability of ESAB's differentiated solutions by offering its welding and gas control equipment to customers in Mexico.
On May 30, ESAB entered into an agreement to acquire Linde Industries Private Limited, a market leader in welding consumables and equipment in Bangladesh. The strategic acquisition will potentially strengthen ESAB's ability to serve its end markets and customers in the region.
During the second quarter of 2024, which ended on June 28, 2024, ESAB reported net sales of $707.05 million, and its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> increased 2.4% year-over-year to $270.32 million. Its operating income rose 9.9% from the year-ago value to $119.35 million.
Furthermore, the company's adjusted net income from continuing operations came in at $86.60 million and $1.41 per share, up 10.9% and 10.2% from the prior year's quarter, respectively.
Street expects ESAB's revenue for the first quarter (ending March 2025) to increase 2.2% year-over-year to $670.47 million. Its EPS for the same quarter is expected to grow 6.4% year-over-year to $1.28. Also, the company has topped the consensus EPS estimates in each of the four trailing quarters, which is impressive.
Shares of ESAB have surged 48.4% over the past year to close the last trading session at $105.19.
ESAB's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
ESAB has a B grade for Stability and Sentiment. It is ranked #7 out of 28 stocks in the <a href="https://stocknews.com/category/industrial-metals/">Industrial - Metals</a> industry.
In addition to the POWR Ratings we've stated above, we also have ESAB's ratings for Momentum, Value, Quality, and Growth. Get all ESAB ratings <a href="https://stocknews.com/stock/ESAB/">here</a>.
Stock #2: Gibraltar Industries, Inc. (<a href="https://stocknews.com/stock/ROCK/">ROCK</a>)
ROCK manufactures and offers products and services for the renewable energy, residential, agtech, and infrastructure markets internationally. It operates in four segments: Renewables; Residential; Agtech; and Infrastructure. It designs, engineers, manufactures, and installs solar racking and electrical balance systems for commercial and distributed generation-scale solar installations.
In terms of forward Price/Sales, ROCK is trading at 1.50x, lower than the industry average of 1.49x. Similarly, the stock's forward EV/Sales multiple of 1.39 is 26.2% lower than the 1.89 industry average. Further, its forward EV/EBITDA of 8.93x is 24.1% lower than the industry average of 11.76x.
For the second quarter that ended June 30, 2024, ROCK posted net sales of $353 million, of which its sales from the renewables segment grew 2.5% from the year-ago value to $79.40 million. The company's adjusted net income and EPS of $36.40 million and $1.18 indicate growth of 2.8% and 2.6% from the prior year's quarter, respectively.
As per the company's updated fiscal year 2024 outlook. ROCK now expects consolidated net sales between $1.38 billion and $1.42 billion. Also, it expects its adjusted EPS to range from $4.57 to $4.82.
Street expects ROCK's revenue and EPS for the third quarter (ending September 2024) to increase 1.2% and 6% year-over-year to $395.47 million and $1.46, respectively. Furthermore, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
ROCK's stock has gained 1% over the past year to close the last trading session at $68.41.
ROCK's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has an A grade for Momentum. It also has a B grade for Sentiment and Quality. ROCK is ranked #4 among 28 stocks in the same industry.
<a href="https://stocknews.com/stock/ROCK/">Click here</a> to access ROCK's ratings for Stability, Growth, and Value.
Stock #1: Valmont Industries, Inc. (<a href="https://stocknews.com/stock/VMI/">VMI</a>)
VMI operates as a manufacturer of products and services for infrastructure and agriculture markets internationally. The company operates through two segments: Infrastructure and Agriculture. It manufactures and distributes steel, pre-stressed concrete, and composite structures for electrical transmission, substation, and distribution applications.
On July 29, VMI's Board of Directors declared a quarterly dividend of $0.60 per share, payable on October 15, 2024, to shareholders of record on September 27, 2024.
VMI pays an annual dividend of $2.40, which translates to a yield of 0.84% at the current share price. Its four-year average dividend yield is 0.87%. Moreover, the company's dividend payouts have increased at a CAGR of 9.9% over the past five years. VMI has raised its dividends for four consecutive years.
VMI reported net sales of $1.04 billion during the second quarter that ended June 29, 2024, and its gross profit came in at $320.28 million. Net earnings attributable to VMI and EPS amounted to $99.72 million and $4.91, indicating growth of 11.6% and 16.6% from the prior year's quarter, respectively.
The company raised its 2024 full-year financial outlook for earnings per share. It now expects its EPS to range from $16.50 to $17.30, compared to the prior range of $15.40 to $16.40.
Analysts expect VMI's revenue for the fourth quarter (ending December 2024) to increase marginally year-over-year to $1.02 billion, and its EPS is expected to grow 15.9% year-over-year to $3.69. Moreover, the company has topped the consensus EPS estimates in each of the trailing four quarters, which is impressive.
VMI's stock has gained 30.3% over the past six months and 19.3% over the past year to close the last trading session at $284.87.
VMI's POWR Ratings reflect its rosy outlook. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has an A grade for Momentum and a B grade for Growth and Sentiment. Within the Industrial - Metals industry, VMI is ranked #2 among 28 stocks.
<a href="https://stocknews.com/stock/VMI/">Click here</a> to access additional ratings of VMI for Quality, Stability, and Value.
What To Do Next?
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ESAB shares were trading at $106.94 per share on Thursday afternoon, up $1.75 (+1.66%). Year-to-date, ESAB has gained 23.63%, versus a 21.52% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/esab-vmi-rock-3-materials-stocks-ready-to-surge-amid-commodity-boom/>3 Materials Stocks Ready to Surge Amid Commodity Boom</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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Gibraltar Industries lowers 2024 financial guidance

In a report released today, Walter Liptak from Seaport Global maintained a Buy rating on Gibraltar Industries (ROCK – Research Report), with a pric...

Seaport Global Sticks to Their Buy Rating for Gibraltar Industries (ROCK)

Here's the major earnings before the open tomorrow

Gibraltar beats Q3 estimates, confirms guidance

Gibraltar Industries, Inc. ( ($ROCK) ) has realeased its Q3 earnings. Here is a breakdown of the information Gibraltar Industries, Inc. presented t...

Gibraltar Industries Reports Q3 2024 Financial Results

Energy/Solar Analysts, along with Gibraltar, discuss Solar E&C trends on an Analyst/Industry conference call to be held on November 4 at 3:30 pm. W...

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