Gibraltar (ROCK) Shares Up More Than 4% On Q4 Earnings Beat
Zacks Investment Research | Mar 01, 2020 08:49PM ET
Gibraltar Industries, Inc.’s (NASDAQ:ROCK) shares gained more than 4% on Feb 28, after it reported fourth-quarter 2019 results. The company’s earnings and sales not only topped analysts’ expectations but also rose year over year on solid contribution from the Renewable Energy and Conservation segment.
The company’s adjusted earnings of 62 cents per share beat the Zacks Consensus Estimate of 59 cents by 5.1%. The bottom line also increased 31.9% year over year on higher organic growth in Renewable Energy & Conservation, lower interest expense, and benefits from operational excellence initiatives.
Net sales of $258.1 million beat the consensus mark of $256 million by 0.8%. On a year-over-year basis, the top line increased 7.1%, out of which 5.3% was organic, led by the Renewables & Conservation business. Meanwhile, the acquisition of Apeks Supercritical contributed 1.8% to revenue growth.
Markedly, the company’s backlog was $218 million (as of Dec 31, 2019), up 35% year over year, as it increased participation in Renewable Energy and Conservation, as well as Infrastructure and Residential end markets.
Gibraltar Industries, Inc. Price, Consensus and EPS Surprise
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