The 2020 Mid-Year Economic Update_long

Gibraltar Industries Sales Up 5% in 2Q

Year-to-date sales up 1.1 percent year-over-year.

Building products manufacturer Gibraltar Industries Inc. (NASDAQ: ROCK), Buffalo, NY, reported sales for the second quarter of $235 million, up 5 percent year-over-year. Profit decreased 16.9 percent to $6.4 million.

“After a long cold winter that drove lower-than-anticipated first-quarter results, end market demand in the second quarter did not rebound as expected,” said CEO Brian Lipke. “Demand for roofing-related products remained unexpectedly weak throughout the second quarter and well below demand anticipated by many industry observers."

Second-quarter sales for the residential products segment increased 6 percent year-over-year to $117.4 million, strong demand for postal storage products. Sales for the industrial and infrastructure products segment increased 3 percent to $117.9 million, reflecting improving volume in the industrial markets, offset by lower shipment volumes to the transportation infrastructure market.

Year-to-date sales were $426 million, up 1.1 percent over the prior-year period. Profit increased 4.9 percent to $4.3 million.

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