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Renewable energy and infrastructure solutions provider Gibraltar Industries (NASDAQ: ROCK)
will be reporting results tomorrow morning. Here’s what to look for.
Gibraltar missed analysts’ revenue expectations last quarter, reporting revenues of $310.9 million, up 12.2% year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.
This quarter, the market is expecting Gibraltar’s revenue to decline 12.2% year on year, a further deceleration from the 8.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Gibraltar’s peers in the home construction materials segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Hayward delivered year-on-year revenue growth of 6.8%, beating analysts’ expectations by 5%, and Builders FirstSource reported a revenue decline of 12.1%, falling short of estimates by 2.8%. Builders FirstSource’s stock price was unchanged following the results.
There has been positive sentiment among investors in the home construction materials segment, with share prices up 5.3% on average over the last month. Gibraltar’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $73 (compared to the current share price of $50.44).
