Why Gibraltar Industries Stock Is Eroding Today
Industrial product manufacturer Gibraltar Industries (NASDAQ: ROCK) delivered Q4 earnings that nearly matched analysts' expectations, but investors had been hoping for more. Shares of Gibraltar were down 13% as of 10:30 a.m. ET on results and guidance that failed to live up to the hype.
Gibraltar makes products for the renewable energy, residential, agtech, and global infrastructure markets, including roofing and ventilation products, solar racks, and greenhouses. The company has gained investor attention lately due to its exposure to some industries seen as poised for outsize growth, with the stock up almost 70% since April and priced at nearly 30 times earnings heading into its quarterly report.
The company earned $0.85 per share in the quarter on revenue of $328.8 million, which was pretty close to Wall Street's $0.86 per share on $331 million consensus estimate. Net sales were up 4.7% for Q4 and 5.1% for the year, and full-year earnings per share climbed 18%.
Source Fool.com
