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Renewable energy and infrastructure solutions provider Gibraltar Industries (NASDAQ: ROCK)
will be reporting earnings this Wednesday before market open. Here’s what investors should know.
Gibraltar missed analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $290 million, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.
This quarter, analysts are expecting Gibraltar’s revenue to grow 6.8% year on year to $377.1 million, a reversal from the 3.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.12 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gibraltar has missed Wall Street’s revenue estimates six times over the last two years.
Looking at Gibraltar’s peers in the home construction materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Masco’s revenues decreased 2% year on year, beating analysts’ expectations by 2.4%, and Simpson reported revenues up 5.7%, topping estimates by 5.3%. Masco traded up 4.7% following the results while Simpson was also up 10.7%.
Investors in the home construction materials segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Gibraltar is up 6.4% during the same time and is heading into earnings with an average analyst price target of $90.33 (compared to the current share price of $64.43).
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