Steel Markets
May 9, 2015
Gibraltar Discusses Market Opportunities
Written by Sandy Williams
Gibraltar Industries, a leading manufacturer and distributor of products for building markets, saw revenues decrease in Q1 2015 in the industrial and infrastructure product segments. Low oil prices have dampened spending in the oil and gas markets and the strong US dollar has impacted order rates and revenues. Historically, approximately 25-20 percent of revenues for Gibraltar are derived from the oil and gas industries and orders are expected to be down for the balance of the year. Guidance for industrial and infrastructure was accordingly revised downward.
The oil and gas downturn in oil and gas end markets was not a surprise to Gibraltar said CEO Frank Heard during the company earnings call. “We don’t expect to see another step down in end market activity in that and we think we’re running across the bottom of the trough,” said Heard.
