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Jun 30, 2020
Gibraltar Q2 2020 Earnings Report
Second quarter net sales and adjusted EPS grew, driven by the Residential Products and Renewable Energy & Conservation segments.
Key Takeaways
Gibraltar Industries reported strong second-quarter results with revenue growth driven by Residential Products and Renewable Energy & Conservation segments. GAAP earnings and adjusted earnings per share increased significantly. The company's backlog continued to build, indicating positive momentum.
Net sales increased by 8.8% to $285.8 million, driven by Residential Products and Renewable Energy & Conservation segments.
GAAP earnings increased 37.2% to $27.3 million, or $0.83 per share.
Adjusted earnings increased 16.9% to $27.7 million, or $0.84 per share.
Backlog increased 14% to $277 million, reflecting strong demand in Renewable Energy and Conservation.
Revenue by Segment
Forward Guidance
Although the Company delivered strong financial performance in the first half of 2020 and continues to experience a growing backlog, the uncertain pace and strength of an economic recovery in the current environment continue to make providing reliable quantitative guidance difficult.
Positive Outlook
- Momentum and current market trends support a solid outlook for the remainder of the year.
- Confidence that the second half of the year will be stronger than the first half.
- Resiliency inherent in our business model.
- Strong balance sheet position.
- Continue investing in our business and strengthening our position in the markets we serve.
Challenges Ahead
- Uncertain pace and strength of an economic recovery in the current environment.
- Current status of the pandemic across the country.
- Understanding its potential impact on our markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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