Gibraltar Industries reports Q3 EPS $1.14, consensus $1.21

Reports Q3 revenue $310.94M, consensus $317.5M. “Our third quarter results reflect our focus on execution in a dynamic business environment, particularly in residential roofing, where our building accessories business posted 2% growth in a market that was down 5% – 10% depending on the channel. In our Agtech business, a large controlled environment agriculture (CEA) project was delayed as expected and impacted revenue in the quarter. On adjusted net sales growth of 13%, adjusted EPS came in slightly below prior year, impacted by both business and product mix. Backlog increased 50% in the quarter and operating cash flow grew 39% to $57 million,” stated Chairman and CEO Bill Bosway. “Based on our current outlook, we expect approximately 15% adjusted net sales and 10-12% adjusted EPS growth this year.”