Steel Markets
November 2, 2015
Gibraltar Industries Improves Net Sales
Written by Sandy Williams
Gibraltar Industries reported net sales increased 30 percent in third quarter 2015 to $305 million. Adjusted net income was $15.7 million compared with $9.5 million in Q3 2014.
“Gibraltar delivered strong financial results in the third quarter, as we continued to execute on the value-creation strategy we introduced late last year,” said Chief Executive Officer Frank Heard. “Although we continue to see very little market lift in any of our businesses, consolidated net sales were up 30 percent from the third quarter of 2014. This growth reflected sales at RBI, a strategic acquisition that we completed in the second quarter. Organic sales were down 5 percent year-over-year, as ongoing soft demand in the Industrial and Infrastructure Products segment more than offset continued growth in our postal storage and roofing-related businesses in the Residential Products segment.”
