The 2020 Mid-Year Economic Update_long

Gibraltar Industries Sales Down 2.9% in 1Q

Residential products, industrial products sales down 3 percent.

Building products manufacturer Gibraltar Industries Inc. (NASDAQ: ROCK), Buffalo, NY, reported sales for the first quarter of $191 million, down 2.9 percent from the prior-year quarter. The company reported a net loss of $2.1 million, compared to a loss of $3.6 million in the first quarter of 2013.

“Although Gibraltar’s first-quarter sales were lower than expected due to the prolonged winter season in most parts of the country, we believe underlying conditions in our end markets remain positive,” said Brian Lipke, CEO. “The increased order rates were primarily generated by increased demand for our centralized postal storage products which we believe will lead to strong sales growth for our residential products segment throughout 2014.”

First-quarter sales for the residential products segment decreased 3 percent year-over-year to $87 million, reflecting decreased demand in residential new construction as well as repair and remodeling applications.

Sales for the industrial and infrastructure products segment decreased 3 percent to $104.3 million, reflecting lower shipment volumes to the transportation infrastructure market while prices remained stable in the North American industrial markets.

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