Gibraltar Industries Q4 Results Miss Estimates; Sees FY23 Adj. EPS In Line
(RTTNews) - Gibraltar Industries, Inc. (ROCK) reported Wednesday that net income for the fourth quarter declined to $3.3 million or $0.11 per share from $9.8 million or $0.30 per share in the prior-year quarter.
Excluding items, adjusted earnings from continuing operations were $0.72 per share, compared to $0.56 per share in the year-ago quarter.
Net sales for the quarter decreased 6.1 percent to $313.9 million from $334.4 million in the same quarter last year. Adjusted revenue was down 9.8 percent organically.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share on revenues of $334.73 million for the quarter. Analysts' estimates typically exclude special items.
For fiscal 2023, the company now projects earnings in a range of $3.04 to $3.24 per share and adjusted earnings in the range of $3.46 to $3.66 per share, on projected revenues between $1.36 billion and $1.41 billion.
The Street is currently looking for earnings of $3.65 per share on revenues of $1.44 billion for the year.
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