Shares of Gibraltar Industries (ROCK) are soaring 6.55% in Thursday's trading session, despite reporting mixed third-quarter results. The company's strong backlog growth and robust performance in its metal roofing segment appear to be outweighing slight misses in earnings estimates.

Gibraltar reported Q3 net sales of $310.9 million, representing a 12.2% increase from the same period last year. While this figure missed analyst estimates of $317.5 million, it demonstrated significant growth in a challenging market environment. The company's adjusted earnings per share came in at $1.14, slightly below the consensus estimate of $1.21, and down 0.87% from the previous year.

Investors seem particularly encouraged by Gibraltar's impressive 50% increase in backlog, signaling strong future demand for its products. The company's metal roofing and structures businesses showed notable strength, with the residential roofing segment growing 2% in a market that reportedly declined between 5% and 10%. Additionally, Gibraltar narrowed its 2025 outlook, projecting net sales between $1.15 billion and $1.175 billion, and adjusted earnings per share in the range of $4.20 to $4.30, representing a 10% to 12% increase from 2024. This positive forward guidance, combined with the strong backlog, appears to be driving the stock's significant upward movement despite the mixed quarterly results.