10:20 AM EDT, 07/31/2024 (MT Newswires) -- Gibraltar Industries ( ROCK ) shares were down 9.5% in recent Wednesday trading after the company reported lower-than-expected Q2 results and lowered its 2024 revenue guidance.

The company reported Q2 adjusted earnings of $1.18 per diluted share, up from $1.15 a year earlier.

Three analysts polled by Capital IQ expected $1.25.

Net sales for the quarter ended June 30 were $353 million, down from $364.9 million a year earlier.

Three analysts surveyed by Capital IQ expected $373.6 million.

The company said it continues to expect 2024 adjusted EPS of $4.57 to $4.82. Three analysts polled by Capital IQ expect $4.71.

Consolidated net sales for the year are now expected between $1.38 billion and $1.42 billion, down from its prior guidance of $1.43 billion to $1.48 billion. Three analysts surveyed by Capital IQ expect $1.43 billion.

Price: 72.58, Change: -7.63, Percent Change: -9.51