Gibraltar Industries Q2 Profit Rises; Results Beat Estimates - Quick Facts

(RTTNews) - Gibraltar Industries, Inc. (ROCK), a manufacturer and distributor of building products and services, reported Wednesday that its net income for the second quarter rose to $27.3 million or $0.83 per share from $19.9 million or $0.61 per share in the year-ago period.

Adjusted earnings for the quarter were $0.84 per share, compared to $0.73 per share in the previous-year quarter.

Net sales for the quarter grew 8.8 percent to $285.8 million from $262.7 million in the year-ago period.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share for the quarter on revenues of $243.85 million. Analysts' estimates typically exclude special items.

Looking ahead, Gibraltar will continue with suspension of quantitative guidance and revisit this practice in three months.

The company noted that while it delivered strong financial performance in the first half of 2020 and continues to experience a growing backlog, the uncertain pace of an economic recovery in the current environment continue to make providing reliable quantitative guidance difficult.