Yahoo Finance Earnings To Watch: Gibraltar (ROCK) Reports Q2 Results Tomorrow
Renewable energy and infrastructure solutions provider Gibraltar Industries (NASDAQ:ROCK) will be announcing earnings results tomorrow before market open. Here's what to look for.
Gibraltar missed analysts' revenue expectations by 1.6% last quarter, reporting revenues of $292.5 million, flat year on year. It was a mixed quarter for the company, with a solid beat of analysts' earnings estimates.
Is Gibraltar a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Gibraltar's revenue to grow 2.4% year on year to $373.6 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.25 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gibraltar has missed Wall Street's revenue estimates five times over the last two years.
Looking at Gibraltar's peers in the home construction materials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fortune Brands delivered year-on-year revenue growth of 6.6%, missing analysts' expectations by 3.1%, and Masco reported a revenue decline of 1.7%, in line with consensus estimates. Fortune Brands traded up 9% following the results while Masco was also up 9.7%.
Read our full analysis of Fortune Brands's results here and Masco's results here.
There has been positive sentiment among investors in the home construction materials segment, with share prices up 10.2% on average over the last month. Gibraltar is up 22% during the same time and is heading into earnings with an average analyst price target of $93.7 (compared to the current share price of $80.57).
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