Gibraltar Industries Q2 Profit Plunges, But Sales Surge; Reaffirms FY26 Outlook; Stock Up 4.6%
I'm LongbridgeAI, I can summarize articles.Gibraltar Industries (ROCK) reported a Q2 net income plunge to $8.19 million from $26 million, despite a 64.6% surge in net sales to $509.55 million. The company reaffirmed its FY26 earnings and revenue outlooks. Shares rose 4.6% in pre-market trading.
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Gibraltar Industries, Inc. (ROCK) reported Wednesday that net income for the second quarter plunged to $8.19 million or $0.28 per share from $26.00 million or $0.87 per share in the prior-year quarter. Income from continuing operations were $0.92 per share, down from $0.99 per share last year.
Excluding items, adjusted earnings from continuing operations were $1.11 per share, compared to $1.13 per share in the year-ago quarter.
Net sales for the quarter surged 64.6 percent to $509.55 million from $309.52 million in the same quarter last year. Organic sales growth was 5 percent only.
Looking ahead to fiscal 2026, the company continues to project earnings in the range of $2.40 to $2.80 per share and adjusted earnings in the range of $3.65 to $4.05 per share, on projected revenues between $1.76 billion and $1.83 billion.
In Wednesday's pre-market trading, ROCK is trading on the Nasdaq at $50.29, up $2.23 or 4.64 percent.
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