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.

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.