Gibraltar Industries Q4 Adj. EPS Meets Estimates; Guides FY24 In Line
(RTTNews) - Gibraltar Industries, Inc. (ROCK) reported Wednesday that net income for the fourth quarter soared to $19.43 million or $0.63 per share from $3.35 million or $0.11 per share in the prior-year quarter.
Excluding items, adjusted earnings from continuing operations were $0.85 per share, compared to $0.72 per share in the year-ago quarter.
Net sales for the quarter increased 4.7 percent to $328.81 million from $313.86 million in the same quarter last year. Adjusted revenue was up 5.1 percent organically.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.85 per share on revenues of $331.33 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2024, the company now projects earnings in a range of $4.04 to $4.29 per share and adjusted earnings in the range of $4.57 to $4.82 per share, on projected revenues between $1.43 billion and $1.48 billion.
The Street is currently looking for earnings of $4.71 per share on revenues of $1.46 billion for the year.
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