Gibraltar Industries reported Q3 2024 results within the previously announced range. Agtech sales grew over 30%, and three of four segments delivered margin growth, resulting in $65 million in cash flow generation.
Net sales were $361.2 million, a decrease of 7.6% compared to Q3 2023.
GAAP EPS was $1.11, a decrease of 13.3% compared to Q3 2023.
Agtech sales increased by 30.9% due to accelerating projects in the Produce division.
The company confirms updated 2024 outlook for Revenue: $1.31-$1.33B, GAAP, Adjusted EPS: $3.57-$3.71, $4.11-$4.25.
The outlook is unchanged from the recent update, and although dealing with some challenging end markets, the company expects to deliver earnings growth this year through operational improvement.
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