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As of 5:20 PM 11/25/14 All times are local (Market data is delayed by at least 15 minutes).

gibraltar industries inc (ROCK) Key Developments

Gibraltar Industries Announces Management Changes

Gibraltar Industries announced that as part of a succession planning process, President and Chief Operating Officer Frank Heard will be promoted to Chief Executive Officer and appointed to the board of directors effective January 1, 2015. Brian Lipke, the company's current Chairman and Chief Executive Officer, will continue as Gibraltar's Chairman. Separately, Craig Hindman and Vinod Khilnani have been appointed as independent directors of the company, effective immediately. Mr. Heard has more than 25 years of experience in the building products industry. Prior to joining Gibraltar he was President, ITW Building Components Group, a division of Illinois Tool Works Inc. Vinod Khilnani will replace director Arthur Russ, Jr. who has decided not to stand for re-election and will retire from his board service immediately prior to the 2015 annual meeting of the company's stockholders. Craig Hindman will replace director Gerald Lippes, who, as previously announced, will retire on December 31, 2014. The size of the Gibraltar board has temporarily been expanded to permit the newly appointed directors to begin their board service prior to the retirements of Messrs. Russ, Lippes and David Campbell. Mr. Hindman is a global executive and board member with 35 years of leadership experience across multiple industry segments. Most recently he was Executive Vice President/CEO for the Industrial Packaging Group of businesses at Illinois Tool Works Inc. Mr. Khilnani, age 62, most recently was Executive Chairman of the Board at NYSE-listed CTS Corporation.

Gibraltar Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full-Year of 2014

Gibraltar Industries, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales of $234,101,000 against $217,412,000 a year ago. Income from operations was $18,392,000 against loss from operations of $6,152,000 a year ago. Income before taxes was $15,399,000 against loss before taxes of $9,914,000 a year ago. Net income from continuing operations was $9,571,000 or $0.31 per basic and diluted share against net loss from continuing operations of $13,727,000 or $0.44 per basic and diluted share a year ago. Net income was $9,540,000 or $0.30 per basic and diluted share against net loss of $13,727,000 or $0.44 per basic and diluted share a year ago. Non-GAAP income from operations was $18,273,000 against $18,494,000 a year ago. Non-GAAP income before taxes was $15,280,000 against $14,732,000 a year ago. Non-GAAP income from continuing operations was $9,485,000 or $0.30 per basic and diluted share against $9,561,000 or $0.31 per basic and diluted share a year ago. For the nine months, the company reported net sales of $660,093,000 against $638,732,000 a year ago. Income from operations was $33,398,000 against $15,327,000 a year ago. Income before taxes was $22,582,000 against loss before taxes of $3,210,000 a year ago. Net income from continuing operations was $13,916,000 or $0.45 per basic and diluted share against net loss from continuing operations of $9,638,000 or $0.31 per basic and diluted share a year ago. Net income was $13,885,000 or $0.44 per basic and diluted share against net loss of $9,642,000 or $0.31 per basic and diluted share a year ago. Net cash provided by operating activities was $18,145,000 against $37,907,000 a year ago. Purchases of property, plant, and equipment were $19,180,000 against $8,816,000 a year ago. Non-GAAP income from operations was $33,349,000 against $41,208,000 a year ago. Non-GAAP income before taxes was $22,533,000 against $29,837,000 a year ago. Non-GAAP income from continuing operations was $13,869,000 or $0.44 per basic and diluted share against $18,982,000 or $0.61 per basic and diluted share a year ago. Looking ahead near-term, the company continues to expect demand in the fourth quarter to benefit from orders for postal products as overall end market demand becomes seasonally slower. This should lead to consolidated top-line growth of 4% to $193 to $198 million for the fourth quarter, with full-year revenues in the range of $853 to $858 million, a 3% increase compared with 2013. On the bottom line for the fourth quarter, higher raw material costs and a less favorable sales mix are expected to weigh on results. As a result, the company anticipates reporting adjusted fourth-quarter earnings per share between a loss of $0.02 and income of $0.03, compared with $0.08 for the same period last year, and $0.42 to $0.47 for full-year 2014, compared with $0.69 in 2013. The company expects GAAP earnings per share of $0.42 to $0.47 for full-year 2014, compared with a loss of $0.18 in 2013.

Gibraltar Industries, Inc., Q3 2014 Earnings Call, Oct 28, 2014

Gibraltar Industries, Inc., Q3 2014 Earnings Call, Oct 28, 2014

Gibraltar Industries, Inc. to Report Q3, 2014 Results on Oct 28, 2014

Gibraltar Industries, Inc. announced that they will report Q3, 2014 results at 7:30 AM, US Eastern Standard Time on Oct 28, 2014

Gibraltar Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter, Second Half and Full Year 2014

Gibraltar Industries, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. Gibraltar's net sales for the second quarter of 2014 increased 5% to $235.0 million, compared with $224.5 million for the second quarter of 2013. Second-quarter 2014 adjusted net income was $6.1 million, or $0.19 per diluted share, compared with adjusted net income of $8.2 million, or $0.26 per diluted share, in the second quarter of 2013. Including these items in the respective periods, the Company's second-quarter 2014 GAAP results were net income of $6.4 million, or $0.21 per diluted share, compared with net income of $7.7 million, or $0.25 per diluted share, in the second quarter of 2013. Income from operations was $14,730,000 against $16,283,000 a year ago. Income before taxes was $10,520,000 against $12,602,000 a year ago. Income from continuing operations was $6,431,000 against $7,732,000 a year ago. Purchases of property, plant, and equipment was $11,498,000 against $4,741,000 a year ago. On adjusted basis, consolidated income from operations was $14,163,000 and income before taxes was $9,953,000 against income from operations of $17,042,000 and income before taxes of $13,361,000 a year ago. For the six months ended June 30, 2014, total net sales increased 1% to $426.0 million, from $421.3 million in the comparable 2013 period. Adjusted net income from continuing operations was $4.4 million, or $0.14 per diluted share, compared with $9.4 million, or $0.30 per diluted share, in the comparable period of 2013. Including these items, GAAP net income for the first six months of 2014 was $4.3 million, or $0.14 per diluted share, compared with net income of $4.1 million, or $0.13 per diluted share, in the comparable period of 2013. Income from operations was $15,063,000 against $21,479,000 a year ago. Income before taxes was $7,183,000 against $6,704,000 a year ago. Income from continuing operations was $4,345,000 against $4,089,000 a year ago. Net cash used in operating activities was $3,785,000 against net cash provided by operating activities of $5,262,000 a year ago. On adjusted basis, consolidated income from operations was $15,133,000 and income before taxes was $7,253,000 against income from operations of $22,714,000 and income before taxes of $15,105,000 a year ago. The company now expects that it will deliver comparable revenues for the second half of 2014 to those reported in the first half of the year, and 6% higher than the prior year period. Adjusted EPS approximating of $0.37 to $0.40. For full-year 2014, it projects total revenues in the range of $853 to $860 million, compared with $828 million in 2013. The company anticipates adjusted earnings per share in the range of $0.50 to $0.55 for full year 2014, compared with $0.69 in 2013. It expects GAAP earnings per share of $0.45 to $0.50 for full-year 2014, compared with a loss of $0.18 in 2013. The company expects to see modest margin expansion on full year consolidated sales growth. The company anticipates adjusted earnings per share in the range of $0.23 to $0.27 for the third quarter of 2014, compared with $0.31 for the same period last year.

 

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