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Strong earnings causes Gibraltar stock to jump

Gibraltar Industries stock jumped more than 13 percent to its highest level in 16 months after the Hamburg-based building products maker's second-quarter profits soared past analyst forecasts.

Gibraltar said its profits jumped 73 percent to $22.8 million, or 70 cents per share, from $13.2 million, or 41 cents per share, a year ago. Excluding one-time items, Gibraltar's profits of 71 cents per share easily topped analyst forecasts of 55 cents per share.

Gibraltar's sales rose by 7 percent to $266 million as its renewable energy and infrastructure business improved, along with added strength from its industrial and infrastructure units.

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