Welcome to our dedicated page for Gibraltar Inds news (Ticker: ROCK), a resource for investors and traders seeking the latest updates and insights on Gibraltar Inds stock.
Gibraltar Industries reports news on its residential, agtech and infrastructure products and services, including operating results, guidance and investor conference activity. Coverage reflects its focus on building products and structures after reclassifying Renewables as discontinued operations, with updates on acquisitions, integration work, divestitures, commodity-cost trends, project timing, backlog and demand in residential, greenhouse and indoor growing markets.
Gibraltar Industries (NASDAQ: ROCK) reported strong fourth-quarter 2020 results, with net sales rising 17.3% to $265.2 million and GAAP EPS increasing 15.2% to $0.53. The company achieved a solid backlog of approximately $300 million, up 50%, and anticipates revenue for 2021 between $1.3 billion and $1.35 billion. Adjusted EPS for 2021 is projected to be between $3.30 and $3.47. Despite challenges in the Renewable Energy segment, Gibraltar is confident in maintaining growth and margin expansion moving into 2021.
Gibraltar Industries, Inc. (Nasdaq: ROCK) has appointed Gwen G. Mizell and Manish H. Shah as independent board members effective February 24, 2021. Mizell, head of Sustainability and Electrification at Ameren, and Shah, Chief Information Officer at Community Health Systems, will enhance the board's expertise in sustainability, digital transformation, and risk management. Current board members Sharon M. Brady and Vinod M. Khilnani will retire at the end of their terms. The board is strategically refocusing on leadership and governance, aiming for sustainable value creation in their markets.
Gibraltar Industries (Nasdaq: ROCK) has finalized the sale of its Industrial business to Pacific Avenue Capital Partners, aligning with its strategy to focus on core markets. CEO Bill Bosway emphasized that this divestiture allows Gibraltar to concentrate on delivering higher growth and returns. The Industrial unit will be classified as a discontinued operation in Q4 2020 results, and the company plans to reduce debt with proceeds from the sale. The transaction is seen as a strong foundation for future acquisitions within a fragmented industry.
Gibraltar Industries, Inc. (Nasdaq: ROCK) plans to release its fourth quarter 2020 financial results on February 25, 2021, at 7:30 a.m. ET. A subsequent conference call will occur at 9:00 a.m. ET hosted by CEO William Bosway and CFO Timothy Murphy. Investors can access the call via the Investor Info section of Gibraltar's website or through the provided dial-in numbers. Additionally, a replay of the webcast will be available for one year, allowing interested parties to review the results.
Gibraltar Industries (Nasdaq: ROCK) announced the acquisition of TerraSmart for $220 million and Sunfig for $3.75 million, boosting its solar energy portfolio. TerraSmart provides screw-based solar racking solutions, expected to yield $150-$155 million in 2020 revenue, while Sunfig offers software that optimizes solar investments. These acquisitions position Gibraltar as the largest turnkey provider in the U.S. solar market, with revenues projected to exceed $700 million by 2025. The transactions are anticipated to be immediately accretive to earnings, enhancing Gibraltar's commitment to renewable energy.
Gibraltar Industries, a manufacturer in renewable energy and infrastructure, reported a 10.2% revenue increase for Q3 2020, totaling $329.7 million. Adjusted EPS rose 11.6% to $1.06, with net income increasing 38.0% to $33.8 million. The firm completed a $27 million acquisition of Architectural Mailboxes, enhancing its mail solutions. Additionally, the backlog reached $304 million, a 26% increase. The company anticipates Q4 performance will exceed last year's results, despite uncertainties from the pandemic and economic conditions.
Gibraltar Industries, Inc. (Nasdaq: ROCK) announced it will release its third quarter financial results on October 29, 2020, at 7:30 a.m. ET. A conference call to discuss these results will follow at 9:00 a.m. ET, featuring CEO William Bosway and CFO Timothy Murphy. Interested parties can access the live call via the Investor Info section of Gibraltar's website or by phone. A webcast replay will be available for one year post-event.