Gibraltar Industries Inc. (ROCK), a provider of products and services for the renewable energy, residential, agtech, and infrastructure markets, on Thursday reported a first-quarter net loss, compared with a profit a year earlier. Shares were down more than 4% in pre-market trading.
Loss from continuing operations was $12.05 million or $0.40 per share compared with income of $23.12 million or $0.76 per share a last year, driven mainly by higher expenses.
Net loss was $67.47 million, or $2.26 per share, compared with net income of $21.12 million, or $0.69 per share, in the prior-year quarter.
Excluding one-time items, the company posted earnings of $13.5 million or $0.45 per share.
Operating results swung to a loss of $4.46 million from a profit of $28.66 million in the prior-year period.
Revenue, however, rose to $356.29 million from $246.36 million a year earlier.
Looking ahead, Gibraltar reaffirmed its full-year outlook, expecting net sales of $1.76 billion - $1.83 billion, EPS of $2.40 - $2.80, and adjusted EPS of $3.65 - $4.05.
Gibraltar stock closed at $37.90 on Wednesday, down 1.07%.
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