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.

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.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.