Gibraltar Industries, Inc. (ROCK) research, news, and more from GeoInvesting

Company description

Thu, 17 Apr 2025 11:54:22 GMT

Gibraltar Industries Inc is a manufacturer and provider of products and services for the Renewable energy, Residential, Agtech and Infrastructure markets. Renewables Segment is engaged in the design, engineering, manufacturing and installation of solar racking and electrical balance of systems. Agtech Segment provides growing and processing solutions including the designing, engineering, manufacturing, full-scope construction, maintenance and support of greenhouses and indoor growing operations, and botanical extraction systems. It derives key revenue from the Residential segment which offers roof and foundation ventilation products, single point and centralized mail systems and electronic package solutions and Retractable awnings and gutter guards, among other products.

Research

Mon, 04 Apr 2016 16:06:35 GMT

ROCK ($28.28)

ROCK is a leading manufacturer and distributor of building products for the industrial, infrastructure and residential markets.

The Company has two good quarters remaining before growth slows on a quarterly basis. ROCK has exhibited very impressive annual growth, crushing Q3 and Q4 estimates by a large margin. We are watching closely for pullback to the $20 to $25 range.

Reasons for tracking:

2015 marked the first time in several years the company achieved both top and bottom line growth.
The Company has beat both top and bottom line for the last 4 quarters, while shattering EPS estimates in 3 of those 4 quarters.
- Q4 2015 reported EPS of $0.29 vs analyst estimates of $0.12
- Q3 2015 reported EPS of $0.50 vs analyst estimates of $0.36
- Q2 2015 reported EPS of $0.25 vs analyst estimates of $0.22
- Q1 reported EPS of $0.06 vs analyst estimates of a loss of $0.01

Fiscal QTR

2015

2014

2013

2012

March

Rev

EPS

$200.6

$0.06

$191.0

-$0.05

$197.0

$0.04

$192.2

$0.09

June

Rev

EPS

$253.2

$0.25

$235.0

$0.19

$224.5

$0.26

$220.0

$0.28

Sept

Rev

EPS

$305.0

$0.50

$234.1

$0.30

$217.4

$0.31

$205.5

$0.24

Dec

Rev

EPS

$282.1

$0.29

$202.0

$0.02

$189.0

$0.08

$173.0

$0.05

Totals

Rev

EPS

$1,040

$1.10

$862.1

$0.46

$827.6

$0.69

$790.1

$0.66

The company entered 2015 with a 4 pronged plan to drive growth.

operate more efficiently
focus more on higher margin business
product innovation
complete acquisitions in higher growth industries

The end result is management believes they are running a more efficient ship in higher growth markets
While we don’t expect this billion dollar company to grow top line at a fast clip, it appears that margin expansion is still in the cards. Furthermore, the company will probably execute some acquisitions in 2016 to accelerate top line growth.
We like that ROCK is a billion dollar company with limited exposure to global risks.

From the Q4 2015 conference call:

“Now I will talk about our guidance for 2016, referencing Slide 10. While none of us have a crystal ball, we do believe that Gibraltar should fare pretty well in 2016, since we are less exposed to the most serious global challenges than some other companies. 85% of our 2015 revenue came from the Continental United States, one of the largest developed markets in the world and one that has a comparatively healthy economy today.”

A recent acquisition will put the Company in position to benefit from the November 2015 multi-billion dollar passage of the highway bill. This could potentially lead to upside analyst estimates.
The Company’s industrial infrastructure division could eventually experience an upswing in growth. This could potentially lead to upside in analyst estimates.

Q4 CC:

“Our industrial infrastructure sales have already been affected by the industrial slowdown, including the severe energy downturn. We believe that, that has flattened out, so we are cautiously optimistic for 2016. Looking at transportation infrastructure products sold by this segment, the newly signed federal transportation appropriation is a helpful development for states, allowing departments of transportation to plan larger scale projects. In 2016, these states will start issuing RFQs and awarding initial contract. We expect this will meaningfully benefit our backlog by the end of 2016 and our revenues in 2017 and beyond. In this segment, we are expecting equivalent revenues to 2015 with lower demand – level demand for the key industrial markets such as upstream oil and gas continuing.”

Trading at P/E multiple of 25.7 on trialing non-GAAP EPS we don’t think ROCK is selling at a cheap valuation. We will keep an eye on shares if they experience a pullback.

Caveats:

We need to verify non-GAAP EPS figures.

Reasons For Tracking

Mon, 04 Apr 2016 04:00:00 GMT

ROCK ($28.28)

ROCK is a leading manufacturer and distributor of building products for the industrial, infrastructure and residential markets.

Reasons for tracking:

2015 marked the first time in several years the company achieved both top and bottom line growth.
The Company has beat both top and bottom line for the last 4 quarters, while shattering EPS estimates in 3 of those 4 quarters.
- Q4 2015 reported EPS of $0.29 vs analyst estimates of $0.12
- Q3 2015 reported EPS of $0.50 vs analyst estimates of $0.36
- Q2 2015 reported EPS of $0.25 vs analyst estimates of $0.22
- Q1 reported EPS of $0.06 vs analyst estimates of a loss of $0.01

Fiscal QTR

2015

2014

2013

2012

March

Rev

EPS

$200.6

$0.06

$191.0

-$0.05

$197.0

$0.04

$192.2

$0.09

June

Rev

EPS

$253.2

$0.25

$235.0

$0.19

$224.5

$0.26

$220.0

$0.28

Sept

Rev

EPS

$305.0

$0.50

$234.1

$0.30

$217.4

$0.31

$205.5

$0.24

Dec

Rev

EPS

$282.1

$0.29

$202.0

$0.02

$189.0

$0.08

$173.0

$0.05

Totals

Rev

EPS

$1,040

$1.10

$862.1

$0.46

$827.6

$0.69

$790.1

$0.66

The company entered 2015 with a 4 pronged plan to drive growth.

operate more efficiently
focus more on higher margin business
product innovation
complete acquisitions in higher growth industries

The end result is management believes they are running a more efficient ship in higher growth markets
While we don’t expect this billion dollar company to grow top line at a fast clip, it appears that margin expansion is still in the cards. Furthermore, the company will probably execute some acquisitions in 2016 to accelerate top line growth.
We like that ROCK is a billion dollar company with limited exposure to global risks.

From the Q4 2015 conference call:

“Now I will talk about our guidance for 2016, referencing Slide 10. While none of us have a crystal ball, we do believe that Gibraltar should fare pretty well in 2016, since we are less exposed to the most serious global challenges than some other companies. 85% of our 2015 revenue came from the Continental United States, one of the largest developed markets in the world and one that has a comparatively healthy economy today.”

A recent acquisition will put the Company in position to benefit from the November 2015 multi-billion dollar passage of the highway bill. This could potentially lead to upside analyst estimates.
The Company’s industrial infrastructure division could eventually experience an upswing in growth. This could potentially lead to upside in analyst estimates.

Q4 CC:

“Our industrial infrastructure sales have already been affected by the industrial slowdown, including the severe energy downturn. We believe that, that has flattened out, so we are cautiously optimistic for 2016. Looking at transportation infrastructure products sold by this segment, the newly signed federal transportation appropriation is a helpful development for states, allowing departments of transportation to plan larger scale projects. In 2016, these states will start issuing RFQs and awarding initial contract. We expect this will meaningfully benefit our backlog by the end of 2016 and our revenues in 2017 and beyond. In this segment, we are expecting equivalent revenues to 2015 with lower demand – level demand for the key industrial markets such as upstream oil and gas continuing.”

Trading at P/E multiple of 25.7 on trialing non-GAAP EPS we don’t think ROCK is selling at a cheap valuation. We will keep an eye on shares if they experience a pullback.

Caveats:

We need to verify non-GAAP EPS figures.