Gibraltar Industries expects revenues of $230-$233m in Q2
This includes revenues for the company's Residential Products segment of $116 million to $118 million.
Adjusted net income is expected to be in the range of $4 million to $5 million, with adjusted net income per diluted share in the range of $0.14 to $0.16. This compares with the Company's previous guidance of adjusted EPS in the range of $0.29 to $0.32.
"After a long cold winter that drove lower-than-anticipated Q1 results, end market demand in Q2 did not rebound as expected," said chairman and chief executive officer Brian Lipke.
"Demand for residential products remained unexpectedly weak throughout the second quarter and well below demand anticipated by many industry observers. This has contributed to less-than-anticipated revenue growth in the Residential Products segment." ■