08:28 AM EDT, 10/11/2024 (MT Newswires) -- Gibraltar Industries ( ROCK ) revised Friday its financial outlook for full-year 2024 as it reported preliminary Q3 adjusted earnings and net sales that are lower compared with the actual results in the year-ago quarter.

Gibraltar said it now expects 2024 adjusted EPS to range from $4.11 to $4.25, lower than the prior $4.57 to $4.82. Full year net sales are now expected to be between $1.31 billion and $1.33 billion, lower than $1.38 billion to $1.42 billion previously.

Analysts polled by Capital IQ expect adjusted EPS of $4.59 on revenue of $1.39 billion.

For Q3 ended Sept. 30, the company said its preliminary adjusted EPS stands between $1.25 and $1.28 while net sales are expected to be between $359 million and $362 million. These would be down from $1.37 adjusted EPS on $390.7 million net sales a year earlier.

Analysts polled by Capital IQ expect Q3 adjusted EPS of $1.46 on revenue of $395.5 million.

Gibraltar cited "trade and regulatory uncertainties" amid the US Department of Commerce's ongoing antidumping and countervailing duty investigations on the solar industry. The residential market, including the repair and remodel sector, has also been slower than expected, the company added.

Shares of Gibraltar were 8.8% lower in recent premarket activity.

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