Gibraltar slumps on annual forecast cut

Gibraltar Industries

11/10/2024 15:35

** Shares of renewable energy services provider Gibraltar
Industries  ROCK.O  falls 6.75% to $65.43
    ** The New York-based company cuts 2024 adj EPS outlook to
$4.11 - $4.25 from $4.57 - $4.82
    **Also revises FY revenue forecast to $1.31 bln- $1.33 bln 
from prior guidance of $1.38 bln - $1.42 bln 
    **Says trade and regulatory uncertainties in the solar
industry are still affecting its renewables and residential
businesses
    ** Expects Q3 adjusted EPS of $1.25 - $1.28 missing analysts
estimate of $1.46 per share according to LSEG data
    ** Expects Q3 sales to be between $359 mln- $362 mln, also
below estimates of $395.5 mln
    **Up to last close, shares down 16.91% YTD
    
    
    
    
    

 (Reporting by Bageshri Banerjee in Bengaluru)
 ((bageshri.banerjee@thomsonreuters.com;))