The 2020 Mid-Year Economic Update_long

Gibraltar Industries Sales Up 8% in Third Quarter

President & COO Frank Heard will take on the post of CEO on January 1.

Gibraltar Industries Inc. (Nasdaq: ROCK), Buffalo, NY, reported third-quarter sales of $234.1 million, up 8 percent over the same period a year ago. Profit was $9.5 million, compared to a year-ago loss of $13.7 million.

“The growth was driven by accelerating residential market demand for our new centralized postal storage solutions, as well as modestly higher sales volume in our roofing-related businesses," CEO Brian Lipke said. "These factors contributed to stronger-than-anticipated revenues in our residential products segment. Net sales were also up, year-over-year, in our industrial and infrastructure products segment due to favorable volume and pricing in sales to energy and manufacturing-related customers.”

For the nine months ended Sept. 30, sales were $660.1 million, up 3 percent year-over-year. Profit was $13.9 million, compared to a year-ago loss of $9.6 million.

Gibraltar also announced that current President and COO Frank Heard will become Gibraltar’s president and CEO on Jan. 1, 2015. Lipke will remain as the company’s chairman.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By : XYZScripts.com