Gibraltar Industries, Inc.’s (ROCK - Free Report) shares gained more than 14% on Oct 25 after it reported third-quarter 2019 results. The company’s earnings and sales not only topped analysts’ expectation but also rose year over year on solid growth across its business.
The company’s adjusted earnings of 95 cents per share beat the Zacks Consensus Estimate of 87 cents by 9.2%. The bottom line also increased 33.8% year over year on increased profitability in Renewable Energy & Conservation and Industrial and Infrastructure Product segments along with excellent operational actions and lower interest expenses..
Also, net sales of $299.2 million beat the consensus mark of $289 million by 3.5%. On a year-over-year basis, the top line increased 6.8% out of which 4.3% came from growth in Renewables & Conservation business (fully organic) and the remaining 2.5% resulted from acquisitions of SolarBOS and Apeks Supercritical. Revenues from Residential Products and Industrial & Infrastructure Products were almost flat year over year.
Markedly, the company’s backlog was $241 million (as of Sep 30, 2019), up 45% year over year. The uptick was mainly driven by three businesses — Renewable Energy, Conservation and Infrastructure.
Segmental Details
Residential Products: Net sales in the segment inched up 0.4% year over year to $126.3 million during the quarter. Modest increase in volumes was partly offset by market price.
Gibraltar Industries, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Gibraltar Industries, Inc.’s (ROCK - Free Report) shares gained more than 14% on Oct 25 after it reported third-quarter 2019 results. The company’s earnings and sales not only topped analysts’ expectation but also rose year over year on solid growth across its business.
The company’s adjusted earnings of 95 cents per share beat the Zacks Consensus Estimate of 87 cents by 9.2%. The bottom line also increased 33.8% year over year on increased profitability in Renewable Energy & Conservation and Industrial and Infrastructure Product segments along with excellent operational actions and lower interest expenses..
Also, net sales of $299.2 million beat the consensus mark of $289 million by 3.5%. On a year-over-year basis, the top line increased 6.8% out of which 4.3% came from growth in Renewables & Conservation business (fully organic) and the remaining 2.5% resulted from acquisitions of SolarBOS and Apeks Supercritical. Revenues from Residential Products and Industrial & Infrastructure Products were almost flat year over year.
Markedly, the company’s backlog was $241 million (as of Sep 30, 2019), up 45% year over year. The uptick was mainly driven by three businesses — Renewable Energy, Conservation and Infrastructure.
Segmental Details
Residential Products: Net sales in the segment inched up 0.4% year over year to $126.3 million during the quarter. Modest increase in volumes was partly offset by market price.
Gibraltar Industries, Inc. Price, Consensus and EPS Surprise
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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