Gibraltar Reduces 2017 Guidance - Quick Facts

(RTTNews) - Gibraltar Industries, Inc. (ROCK) announced the company is revising its full-year revenue guidance range to be approximately $970 million to $980 million, a 2% to 3% decrease from 2016. The company expects GAAP EPS to be between $1.37 and $1.50, or $1.57 to $1.70 on an adjusted basis, as compared to previous guidance of $1.55 to $1.65 of GAAP EPS, or $1.75 to $1.85 on an adjusted basis.

"As a result of the delay in the rebound in the Renewable Energy and Conservation market and headwinds in the Industrial markets, we are reducing guidance for full-year 2017. That markets are rebounding, but just not at the pace we anticipated when we provided our guidance in mid-February," said CEO Frank Heard.

For the second quarter of 2017, the company expects revenue in the range of $249 million to $254 million, and GAAP EPS to be between $0.35 and $0.40, or $0.37 to $0.42 on an adjusted basis. The company expects strong top- and bottom-line growth in the third and fourth quarters, following short-term challenges to the second quarter.