We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate and increased 23.2% on a year-over-year basis. Net sales outpaced the consensus mark by 1.9% but decreased slightly from the prior-year level.
Notably, its earnings surpassed expectations in the trailing four quarters, the average surprise being 14.8%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for Gibraltar’s fourth-quarter earnings per share remained unchanged at 86 cents. The estimated figure reflects 19.4% growth from 72 cents per share from the year-ago quarter.
The consensus estimate for net sales is pegged at $335.54 million, indicating a 6.9% increase from the prior-year quarter’s figure of $313.86 million.
Factors to Note
Gibraltar’s earnings and net sales in fourth-quarter 2023 are likely to have risen year over year. The company’s quarterly results are likely to be backed by improving solar module supply, accretive 80/20 initiatives, better price and cost alignment, along with supply-chain optimization initiatives and improvements in project management systems. Also, solid end-market fundamentals are likely to have increased volume and thereby, net sales in the fourth quarter.
The Residential segment (which accounted for 55.2% of 2022 net sales) is expected to have benefited from participation gains with new and existing customers in core products and expansion into new regions, despite the negative impact of price adjustments undertaken in response to commodity cost prices. The consensus mark for the Residential segment’s sales is currently pegged at $196 million versus $172 million reported a year ago.
Infrastructure (which accounted for 5.5% of 2022 net sales) segment is anticipated to have been aided by solid end-market demand and participation gains. For the Infrastructure business, the consensus mark for net sales is currently pegged at $19.81 million, up from $17.28 million year over year.
Continued channel inventory right-sizing and project delays are likely to have hurt the Renewables (27.2% of 2022 net sales) business in the fourth quarter. Yet, positive industry sentiments and solar panel tariffs raise hope. Agtech (12.1% of 2022 net sales) segment is projected to decline slightly due to customer delays in project starts.
The consensus estimate for Renewable unit is expected to be flat from the previous year’s number of $86 million, while Agtech business’ net sales are likely to decrease slightly to $38.27 million from $38.54 million.
Meanwhile, fourth-quarter 2023 earnings are likely to have been driven by solid execution in all its operating segments. Although Gibraltar has been facing inflationary pressures, as well as increased operational costs and expenses, improving supply chain, material cost reduction, field operations and price cost alignment are likely to have offset them.
The consensus mark for adjusted EBITDA for the Residential, Infrastructure, Renewable and Agtech segments is currently pegged at $33.59 million, $4.45 million, $11.38 million and $3.45 million, respectively. In the year-ago period, the segments reported an adjusted EBITDA of $25.89 million, $3.19 million, $15.45 million and $2.87 million, respectively.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Gibraltar this time around. The company does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: ROCK has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: ROCK currently carries a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are some other companies in the Zacks Construction sector that, according to our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
AWI’s earnings for the to-be-reported quarter are expected to decrease 4.6%. The company reported better-than-expected earnings in three the last four quarters, the average surprise being 7.9%.
Floor & Decor Holdings, Inc. (FND - Free Report) has an Earnings ESP of +4.87% and a Zacks Rank #3.
FND’s earnings for the to-be-reported quarter are expected to decline 57.8%. The company reported better-than-expected earnings in two of the last four quarters, missed on one occasion and met on another one, the average surprise being 4.9%.
Enviva Inc. (EVA - Free Report) has an Earnings ESP of +37.36% and has a Zacks Rank #2.
EVA’s earnings missed the consensus mark in each of the last four quarters, with the average being 114.8%. Earnings for the to-be-reported quarter are expected to decline 59.2% year over year.
Image: Bigstock
Gibraltar (ROCK) to Report Q4 Earnings: Here's What to Expect
Gibraltar Industries, Inc. (ROCK - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 21, before the opening bell.
In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate and increased 23.2% on a year-over-year basis. Net sales outpaced the consensus mark by 1.9% but decreased slightly from the prior-year level.
Notably, its earnings surpassed expectations in the trailing four quarters, the average surprise being 14.8%.
The Trend in Estimate Revision
The Zacks Consensus Estimate for Gibraltar’s fourth-quarter earnings per share remained unchanged at 86 cents. The estimated figure reflects 19.4% growth from 72 cents per share from the year-ago quarter.
Gibraltar Industries, Inc. Price and EPS Surprise
Gibraltar Industries, Inc. price-eps-surprise | Gibraltar Industries, Inc. Quote
The consensus estimate for net sales is pegged at $335.54 million, indicating a 6.9% increase from the prior-year quarter’s figure of $313.86 million.
Factors to Note
Gibraltar’s earnings and net sales in fourth-quarter 2023 are likely to have risen year over year. The company’s quarterly results are likely to be backed by improving solar module supply, accretive 80/20 initiatives, better price and cost alignment, along with supply-chain optimization initiatives and improvements in project management systems. Also, solid end-market fundamentals are likely to have increased volume and thereby, net sales in the fourth quarter.
The Residential segment (which accounted for 55.2% of 2022 net sales) is expected to have benefited from participation gains with new and existing customers in core products and expansion into new regions, despite the negative impact of price adjustments undertaken in response to commodity cost prices. The consensus mark for the Residential segment’s sales is currently pegged at $196 million versus $172 million reported a year ago.
Infrastructure (which accounted for 5.5% of 2022 net sales) segment is anticipated to have been aided by solid end-market demand and participation gains. For the Infrastructure business, the consensus mark for net sales is currently pegged at $19.81 million, up from $17.28 million year over year.
Continued channel inventory right-sizing and project delays are likely to have hurt the Renewables (27.2% of 2022 net sales) business in the fourth quarter. Yet, positive industry sentiments and solar panel tariffs raise hope. Agtech (12.1% of 2022 net sales) segment is projected to decline slightly due to customer delays in project starts.
The consensus estimate for Renewable unit is expected to be flat from the previous year’s number of $86 million, while Agtech business’ net sales are likely to decrease slightly to $38.27 million from $38.54 million.
Meanwhile, fourth-quarter 2023 earnings are likely to have been driven by solid execution in all its operating segments. Although Gibraltar has been facing inflationary pressures, as well as increased operational costs and expenses, improving supply chain, material cost reduction, field operations and price cost alignment are likely to have offset them.
The consensus mark for adjusted EBITDA for the Residential, Infrastructure, Renewable and Agtech segments is currently pegged at $33.59 million, $4.45 million, $11.38 million and $3.45 million, respectively. In the year-ago period, the segments reported an adjusted EBITDA of $25.89 million, $3.19 million, $15.45 million and $2.87 million, respectively.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Gibraltar this time around. The company does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — to increase the odds of an earnings beat.
Earnings ESP: ROCK has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: ROCK currently carries a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are some other companies in the Zacks Construction sector that, according to our model, have the right combination of elements to post an earnings beat in the quarter to be reported.
Armstrong World Industries, Inc. (AWI - Free Report) has an Earnings ESP of +2.66% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
AWI’s earnings for the to-be-reported quarter are expected to decrease 4.6%. The company reported better-than-expected earnings in three the last four quarters, the average surprise being 7.9%.
Floor & Decor Holdings, Inc. (FND - Free Report) has an Earnings ESP of +4.87% and a Zacks Rank #3.
FND’s earnings for the to-be-reported quarter are expected to decline 57.8%. The company reported better-than-expected earnings in two of the last four quarters, missed on one occasion and met on another one, the average surprise being 4.9%.
Enviva Inc. (EVA - Free Report) has an Earnings ESP of +37.36% and has a Zacks Rank #2.
EVA’s earnings missed the consensus mark in each of the last four quarters, with the average being 114.8%. Earnings for the to-be-reported quarter are expected to decline 59.2% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.