Why Gibraltar Industries Stock Soared by 14% on Wednesday
The building materials specialist did better than expected in its second quarter.
Overview
True to its ticker symbol, Gibraltar Industries (NASDAQ: ROCK) was a rock of a stock on Wednesday. After publishing solid quarterly results that morning, investors piled into the building and infrastructure materials company, sending its shares up more than 14% across that trading session.
Gibraltar's second-quarter revenue was $509.5 million, for a sturdy year-over-year improvement of almost 65%. Net income not under generally accepted accounting practices (non-GAAP, or adjusted) fell, although the decline was not drastic. It came in almost 2% lower at $33 million, or $1.11 per share.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.