Vancouver, BC, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Trident Resources Corp. (TSX-V: ROCK) (OTCQB: TRDTF) (“Trident” or the “Company”) is pleased to announce that it has entered into an arm’s length property option agreement (the “Agreement”) dated September 8, 2025 with Reinco Exploration Limited (“Reinco”), pursuant to which Trident may acquire up to a 100% interest in the Reindeer Project (the “Property”), located near Southend, Saskatchewan. Reindeer Project Location Map:https://www.tridentresourcescorp.co ...

Vancouver, BC, Aug. 28, 2025 (GLOBE NEWSWIRE) -- Trident Resources Corp. (TSX-V: ROCK) (OTCQB: TRDTF) (“Trident” or the “Company”) is pleased to announce that, further to its news release dated August 12, 2025, it has closed the transaction with Eagle Plains Resources Ltd. (“Eagle Plains” or “EPL”) pursuant to which the Company has acquired a 100% interest in a number of dispositions comprising 16,245 ha in four individual blocks (the “Properties”) that border the Company’s core high-grade gold assets withi ...

Core Viewpoint - Trident Resources Corp. has initiated its first diamond drilling program at the Contact Lake Gold Project, marking a significant milestone in exploring the potential of this underexplored gold project in the La Ronge Gold Belt of Saskatchewan [1][3][7]. Drilling Program Overview - The inaugural drill program will consist of 5,000 metres, focusing on high-priority zones and confirming historical mineralization data [4][8]. - This is the first drilling campaign at Contact Lake in nearly 30 years, aimed at validating historical results and expanding known gold zones [3][7]. Expansion Potential - The Contact Lake Gold Project has a history of gold exploration but remains largely underexplored using modern methods. The La Ronge Gold Belt is known for several past-producing mines, indicating strong potential for Contact Lake to evolve into a significant asset with district-scale growth opportunities [6][10]. Historical Drill Intercepts - Historical high-grade intercepts from the Contact Lake Mine include: - Hole TU89-125: 20.5m at 12.81 g/t Au - Hole TU89-127: 18.3m at 10.41 g/t Au - Hole TU90-146: 0.6m at 2,616.00 g/t Au - Hole TU92-316: 0.5m at 94.06 g/t Au - These results highlight the potential for significant gold mineralization at the site [8]. Next Steps - Drilling is expected to continue through fall 2025, with the first assay results anticipated later this year. The company will provide updates as results become available [8].

Core Viewpoint - Trident Resources Corp. is set to commence its inaugural drill program at the Contact Lake Gold Project in Saskatchewan, with over CAD $11 million in cash and marketable securities to fully fund the initiative, aiming to enhance its exploration portfolio in the La Ronge Gold Belt [1][3]. Company Overview - Trident Resources Corp. is a Canadian public mineral exploration company focused on gold and copper projects in Saskatchewan, including the Contact Lake and Greywacke Lake projects, which have significant historical gold resources [13]. Drill Program Details - The drill program will consist of 5,000 metres across 16 holes, targeting the confirmation and extension of gold mineralization from historically defined resources [4]. - The Contact Lake mine previously operated by Cameco processed 1,006,673 tonnes of ore at a head grade of 6.16 grams per tonne (g/t) Au, recovering 188,185 ounces of gold with a life of mill recovery rate of 95% [4]. - The drilling will focus on extending gold mineralization between the underground development and unmined resources of the BK3 zone, located northeast of the former mine site [6][9]. Historical Context - The Bakos shear zone, which hosts the Contact Lake deposit, has been drill-defined at widths of 15 to 40 metres over a strike length exceeding 2 km, indicating strong discovery potential [6]. - Historical high-grade intercepts from previous drilling include significant results such as 2,616.00 g/t Au over 0.6 metres [11]. Operational Aspects - Cyr Drilling from Winnipeg has been contracted for the drilling operations, with a comprehensive QA/QC program in place to ensure data integrity [7]. - The initial phase of drilling will focus on shallow gold mineralization northeast of the Contact Lake Main Zone, followed by moderate depth targets and down-plunge extensions of gold mineralization [9].

Vancouver, BC, Aug. 12, 2025 (GLOBE NEWSWIRE) -- Trident Resources Corp. (TSX-V: ROCK) (OTCQB: TRDTF) ("Trident" or the "Company") is pleased to announce that it has signed a non-arm's length agreement (the "Agreement") with Eagle Plains Resources Ltd. ("Eagle Plains" or "EPL") pursuant to which the Company has acquired a 100% interest in a number of dispositions comprising 16,245 ha in four individual blocks (the "Properties") that border the Company's core high-grade gold assets within the highly prospect ...

Core Insights - Gibraltar Industries, Inc. (ROCK) reported lower-than-expected second-quarter 2025 results, with earnings and net sales missing the Zacks Consensus Estimate, although both metrics grew year over year [1][4]. Financial Performance - Adjusted earnings per share (EPS) of $1.13 missed the Zacks Consensus Estimate of $1.16 by 2.6%, but increased 10.8% from the prior year's adjusted EPS of $1.02 [4]. - Net sales of $309.5 million lagged the consensus mark of $375 million by 17.6%, but rose 13.1% from the previous year's $273.6 million [4]. - Adjusted operating profit increased 10.3% year over year to $44.9 million, while adjusted operating margin declined 50 basis points to 14.5% [10]. Segment Performance - Residential segment net sales rose 7.5% year over year to $230.3 million, driven by local market expansion and new products, despite declines in the mail and package business [5]. - Agtech segment net sales surged 56.8% year over year to $54.1 million, aided by $29.4 million from the Lane Supply acquisition, although organic sales decreased by 28.3% [6]. - Infrastructure segment net sales increased 1.6% year over year to $25.2 million, supported by strong execution and new project quoting activity [7]. Operational Highlights - Adjusted EBITDA margin decreased 30 basis points to 17.8%, while adjusted EBITDA rose to $55.1 million from $49 million in the prior year [10]. - The company had liquidity of $438 million as of June 30, 2025, including cash and cash equivalents of $43.3 million, compared to $269.5 million at the end of 2024 [11]. Guidance and Strategic Moves - Gibraltar revised its full-year guidance, expecting net sales between $1.15 and $1.20 billion, indicating about 16% growth from $1.01 billion in 2024 [12]. - Adjusted EPS is projected to be in the range of $4.20-$4.45, reflecting approximately 13% growth compared to $3.82 in 2024 [13]. - The company plans to divest its Renewables segment to focus on building products and structures businesses [3].

Gibraltar Industries (ROCK -3.38%), a manufacturer focused on building products for the residential, agricultural, and infrastructure sectors, released its results on August 6, 2025. The report revealed top-line growth of 13% (GAAP) and 14% (adjusted), with revenue of $309.5 million, up 13.1% year over year, but well below analyst projections of $379.9 million (non-GAAP). Adjusted earnings per share increased 10.8% to $1.13 but also missed the expected non-GAAP EPS of $1.18. While the period saw material gr ...

Financial Data and Key Metrics Changes - The company reported a 14% adjusted sales growth in Q2 2025, driven by contributions from acquired metal roofing and structures businesses [8] - Adjusted operating income and EBITDA margin were 14.5% and 17.8% respectively, with adjusted EPS increasing by 11% year-over-year [9] - Free cash flow generation expanded to 8% of sales, with a target of 10% for 2025 [24][29] Business Line Data and Key Metrics Changes - Residential segment adjusted net sales increased by $18.8 million or 8.9%, primarily due to the metal roofing business acquisition [11] - AgTech net sales growth was supported by the acquisition of Lane Supply, with backlog increasing by 71% [17] - Infrastructure net sales increased by $400,000 or 1.6%, with backlog also increasing by 3% [23] Market Data and Key Metrics Changes - The residential market remains soft, with housing affordability and interest rates impacting new and existing home sales [13] - Retail point of sale results for roofing accessories were down between 5-6%, while building accessories were up 2.3% [14] - The AgTech backlog increased by 33% on an organic basis, indicating strong future revenue trends [17] Company Strategy and Development Direction - The company is strategically shifting focus to Building Products and Structures businesses, simplifying its portfolio by classifying the Renewables segment as discontinued operations [5][6] - The company aims to achieve stronger growth and margin expansion by concentrating resources on attractive markets with long runways for value creation [6][7] - The company plans to continue investing in organic growth and explore M&A opportunities, particularly in the building products segment [25] Management's Comments on Operating Environment and Future Outlook - Management expects overall demand to remain consistent with market conditions, focusing on driving participation gains and local market expansions [27] - The company is confident in managing the dynamic tariff environment and does not anticipate significant impacts from tariffs or inflation [52] - Management expressed optimism about the infrastructure business due to ongoing bipartisan efforts for additional funding [81] Other Important Information - The company has $200 million remaining under its current stock repurchase authorization [26] - The sale process for the renewables business is active, with expectations to close by year-end [38] Q&A Session Summary Question: Revenue contribution from metal roofing acquisitions - The residential segment was essentially flat, down less than 1% organically, with growth driven by metal roofing [35][37] Question: Update on the divestiture of the renewables business - The process is active, with discussions ongoing and hopes to close the sale by year-end [38] Question: Tax implications of the renewables sale - The transaction is expected to be tax-efficient due to existing carryforwards [46] Question: Price cost management and inventory positioning - The company has a robust model to manage tariffs and does not anticipate significant impacts for the remainder of the year [52] Question: Strategy regarding direct-to-contractor model - The strategy focuses on service and speed, with a direct engagement model for custom solutions [62][66] Question: Turnaround time for contractor orders - The expected turnaround time is within one to three days, depending on the project size [73] Question: Synergies between AgTech and infrastructure segments - There are limited synergies, as both segments operate independently despite some similarities [75]

Financial Performance - Adjusted net sales for Q2 2025 were $310 million, a 14% increase[13] - Adjusted EPS for Q2 2025 was $1.13, an 11% increase[13] - The company is establishing 2025 guidance for adjusted net sales between $1.15 billion and $1.20 billion, approximately a 16% increase compared to 2024's $1.01 billion[66] - The company is establishing 2025 guidance for adjusted EBITDA between $200.9 million and $212.4 million, approximately a 16% increase compared to 2024's $177.5 million[66] - The company is establishing 2025 guidance for adjusted EPS between $4.20 and $4.45, approximately a 13% increase compared to 2024's $3.82[66] Segment Results - Residential net sales for Q2 2025 were $230.3 million, an 8.9% increase compared to Q2 2024's $211.5 million[18] - Agtech net sales for Q2 2025 were $54.1 million, a 56.8% increase compared to Q2 2024's $34.5 million[29] - Infrastructure net sales for Q2 2025 were $25.2 million, a 1.6% increase compared to Q2 2024's $24.8 million[56] Portfolio and Strategy - The company invested $208 million year-to-date in selective M&A to build presence and scale core competencies[11] - Order backlog increased 43% to $278 million[15] - Renewables segment was classified as held-for-sale and a discontinued operation[15]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited consolidated financial statements detail decreased net income, increased assets, and reduced cash [Consolidated Statements of Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income) Consolidated Income Statement Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net sales | $309,517 | $273,624 | $555,874 | $514,634 | | Operating income | $39,506 | $40,822 | $68,161 | $70,914 | | Income from continuing operations | $29,438 | $30,984 | $52,553 | $53,938 | | (Loss) income from discontinued operations | $(3,434) | $1,214 | $(5,430) | $3,206 | | Net income | $26,004 | $32,198 | $47,123 | $57,144 | | Net earnings per share – Diluted | $0.87 | $1.05 | $1.56 | $1.86 | [Consolidated Statements of Comprehensive Income](index=4&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income) Consolidated Comprehensive Income Highlights (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net income | $26,004 | $32,198 | $47,123 | $57,144 | | Foreign currency translation adjustment | $2,262 | $(418) | $2,311 | $(1,382) | | Total comprehensive income | $28,266 | $31,780 | $49,434 | $55,762 | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in thousands) | Metric | June 30, 2025 | December 31, 2024 | Change (%) | | :-------------------------------------- | :-------------- | :---------------- | :--------- | | Cash and cash equivalents | $43,291 | $269,480 | **-83.9%** | | Trade receivables, net | $163,572 | $114,898 | **+42.4%** | | Inventories, net | $125,860 | $93,271 | **+34.9%** | | Assets of discontinued operations | $369,736 | $132,540 | **+179.0%** | | Total current assets | $753,509 | $651,332 | **+15.7%** | | Property, plant, and equipment, net | $121,053 | $87,079 | **+39.0%** | | Goodwill | $410,777 | $323,189 | **+27.1%** | | Acquired intangibles | $135,754 | $55,420 | **+145.0%** | | Total assets | $1,482,752 | $1,419,410 | **+4.5%** | | Total current liabilities | $296,278 | $254,862 | **+16.2%** | | Liabilities of discontinued operations | $93,948 | $83,483 | **+12.5%** | | Total stockholders' equity | $1,041,180 | $1,048,034 | **-0.7%** | [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Cash Flow Highlights (Six Months Ended June 30, in thousands) | Metric | 2025 | 2024 | Change (%) | | :-------------------------------------- | :----------- | :----------- | :--------- | | Net cash provided by operating activities | $58,558 | $89,653 | **-34.7%** | | Net cash used in investing activities | $(222,528) | $(8,357) | **-2563.0%** | | Net cash used in financing activities | $(62,499) | $(1,447) | **-4218.5%** | | Net (decrease) increase in cash and cash equivalents | $(226,189) | $79,676 | **-384.0%** | | Acquisitions, net of cash acquired | $(192,946) | — | N/A | | Purchase of common stock at market prices | $(62,499) | $(1,447) | **-4218.5%** | [Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' Equity Changes (Six Months Ended June 30, 2025, in thousands) | Metric | Amount | | :-------------------------------------- | :------- | | Balance at December 31, 2024 | $1,048,034 | | Net income | $47,123 | | Foreign currency translation adjustment | $2,311 | | Stock compensation expense | $6,677 | | Common stock repurchased under stock repurchase program | $(60,000) | | Excise tax on repurchase of common stock | $(491) | | Balance at June 30, 2025 | $1,041,180 | [Notes to Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) [(1) BASIS OF PRESENTATION](index=9&type=section&id=(1)%20BASIS%20OF%20PRESENTATION) - The Renewables business was classified as discontinued operations in June 2025, representing a strategic shift to focus on Residential, Agtech, and Infrastructure segments[26](index=26&type=chunk)[27](index=27&type=chunk) - Interim financial results are not necessarily indicative of full-year results due to the Company's seasonal operations[24](index=24&type=chunk) [(2) TRADE RECEIVABLES, NET](index=9&type=section&id=(2)%20TRADE%20RECEIVABLES,%20NET) Allowance for Credit Losses (in thousands) | Metric | Amount | | :-------------------------------------- | :------- | | Beginning balance as of January 1, 2025 | $1,793 | | Bad debt expense, net of recoveries | $147 | | Accounts written off against allowance and other adjustments | $(50) | | Ending balance as of June 30, 2025 | $1,890 | [(3) REVENUE](index=9&type=section&id=(3)%20REVENUE) - Revenue is generated from a diverse range of products and services across residential (e.g., ventilation, mail systems, roofing), agtech (e.g., controlled environmental agriculture, greenhouses, structural canopies), and infrastructure (e.g., expansion joints, structural bearings) markets[30](index=30&type=chunk)[31](index=31&type=chunk) Unearned Revenue (in millions) | Date | Amount | | :---------------- | :------- | | June 30, 2025 | $0.8 | | December 31, 2024 | $0.7 | [(4) INVENTORIES, NET](index=10&type=section&id=(4)%20INVENTORIES,%20NET) Inventories, Net (in thousands) | Category | June 30, 2025 | December 31, 2024 | Change (%) | | :--------------- | :-------------- | :---------------- | :--------- | | Raw material | $77,579 | $48,019 | **+61.5%** | | Work-in-process | $3,657 | $4,195 | **-12.8%** | | Finished goods | $44,624 | $41,057 | **+8.7%** | | **Total inventories, net** | **$125,860** | **$93,271** | **+34.9%** | - Reserve for excess, obsolete and slow moving inventory increased slightly from **$3.0 million** at December 31, 2024, to **$3.1 million** at June 30, 2025[34](index=34&type=chunk) [(5) ACQUISITIONS](index=10&type=section&id=(5)%20ACQUISITIONS) - During Q1 2025, the Company acquired **three businesses acquired in 2025** for a total preliminary purchase consideration of **$208.2 million**, funded with cash on hand[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) Key Acquisition Details (Q1 2025) | Acquisition | Date | Segment | Purchase Consideration (in millions) | Preliminary Goodwill (in millions) | Acquired Intangible Assets (in millions) | | :-------------------------------- | :--------- | :-------- | :--------------------------------- | :------------------------------- | :------------------------------------- | | Lane Supply, Inc. | Feb 11, 2025 | Agtech | $118.0 | $38.3 (not tax deductible) | $67.1 (Trademarks, Customer relationships, Backlog) | | Two metal roofing manufacturers | Mar 31, 2025 | Residential | $90.2 | $48.3 (tax deductible) | $22.34 (Trademarks, Customer relationships) | - These acquisitions contributed approximately **$65.3 million** in net sales to the Company's consolidated statements of income from their respective acquisition dates through June 30, 2025[42](index=42&type=chunk) - Acquisition-related costs of **$3.1 million** were recognized within selling, general, and administrative expense for the six months ended June 30, 2025[43](index=43&type=chunk) [(6) GOODWILL AND RELATED INTANGIBLE ASSETS](index=13&type=section&id=(6)%20GOODWILL%20AND%20RELATED%20INTANGIBLE%20ASSETS) Goodwill by Segment (in thousands) | Segment | Balance at Dec 31, 2024 | Acquired Goodwill | Foreign Currency Translation | Balance at June 30, 2025 | | :-------------- | :---------------------- | :---------------- | :--------------------------- | :--------------------- | | Residential | $209,170 | $48,327 | — | $257,497 | | Agtech | $82,341 | $38,300 | $961 | $121,602 | | Infrastructure | $31,678 | — | — | $31,678 | | **Total** | **$323,189** | **$86,627** | **$961** | **$410,777** | Acquired Intangible Assets (in thousands) | Category | June 30, 2025 Gross Carrying Amount | December 31, 2024 Gross Carrying Amount | | :-------------------------- | :---------------------------------- | :---------------------------------- | | Indefinite-lived Trademarks | $19,570 | $19,570 | | Finite-lived Backlog | $5,300 | — | | Finite-lived Trademarks | $12,920 | $2,250 | | Finite-lived Unpatented technology | $26,711 | $26,569 | | Finite-lived Customer relationships | $124,265 | $50,650 | | Finite-lived Non-compete agreements | $500 | $709 | | **Total acquired intangible assets** | **$189,266** | **$99,748** | Amortization Expense (in thousands) | Period | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :------------------ | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Amortization expense | $5,697 | $1,560 | $9,118 | $3,198 | Estimated Future Amortization Expense (in thousands) | Year | 2025 (remainder) | 2026 | 2027 | 2028 | 2029 | 2030 | | :------------------ | :--------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Amortization expense | $7,499 | $11,559 | $10,971 | $10,730 | $10,668 | $9,508 | [(7) LONG-TERM DEBT](index=14&type=section&id=(7)%20LONG-TERM%20DEBT) - The Company had no outstanding debt as of June 30, 2025, and December 31, 2024[50](index=50&type=chunk) Revolving Credit Facility Availability (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------------- | :-------------- | :---------------- | | Total revolving credit facility | $400,000 | $400,000 | | Less: standby letters of credit issued to third parties | $(5,054) | $(4,931) | | **Availability on revolving credit facility** | **$394,946** | **$395,069** | - The Company was in compliance with all financial covenants under its Credit Agreement as of June 30, 2025[51](index=51&type=chunk) [(8) EQUITY-BASED COMPENSATION](index=14&type=section&id=(8)%20EQUITY-BASED%20COMPENSATION) Equity-Based Awards Granted (Six Months Ended June 30) | Award Type | 2025 Number of Awards | 2025 Weighted-Average Grant-Date Fair Value | 2024 Number of Awards | 2024 Weighted-Average Grant-Date Fair Value | | :-------------------------- | :-------------------- | :---------------------------------------- | :-------------------- | :---------------------------------------- | | Performance stock units | 137,940 | $61.98 | 58,582 | $77.70 | | Restricted stock units | 57,119 | $64.20 | 33,846 | $77.95 | | Deferred stock units | 2,172 | $52.95 | 3,340 | $68.86 | | Common shares | 13,032 | $52.95 | 6,680 | $68.86 | Management Stock Purchase Plan (MSPP) Liabilities (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :-------------- | :---------------- | | Total MSPP liabilities | $22,900 | $23,700 | | Current accrued expenses | $4,300 | $3,200 | | Non-current liabilities | $18,600 | $20,500 | | Value of restricted stock units within MSPP liabilities | $16,800 | $18,100 | [(9) EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS](index=15&type=section&id=(9)%20EXIT%20ACTIVITY%20COSTS%20AND%20ASSET%20IMPAIRMENTS) - The Company incurred **$2.8 million** in exit activity costs and asset impairment charges for the six months ended June 30, 2025, as part of restructuring initiatives to improve operating performance and optimize its business portfolio[61](index=61&type=chunk)[64](index=64&type=chunk) Total Exit Activity and Asset Impairment Charges (in thousands) | Period | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Total charges | $1,582 | $160 | $2,818 | $226 | Exit Activity Costs by Segment (Six Months Ended June 30, 2025, in thousands) | Segment | Exit Activity | Asset Impairment | Total | | :-------------- | :------------ | :--------------- | :---- | | Residential | $2,355 | — | $2,355 | | Agtech | $275 | $157 | $432 | | Infrastructure | — | — | — | | Corporate | $31 | — | $31 | | **Total** | **$2,661** | **$157** | **$2,818** | [(10) INCOME TAXES](index=16&type=section&id=(10)%20INCOME%20TAXES) Provision for Income Taxes and Effective Tax Rates | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Provision for income taxes (in thousands) | $9,819 | $11,147 | $16,920 | $19,387 | | Effective tax rate | **25.0%** | **26.5%** | **24.4%** | **26.4%** | - The effective tax rate remained above the U.S. federal statutory rate of **21%** due to state taxes and nondeductible permanent differences, partially offset by favorable discrete items from stock-based compensation[65](index=65&type=chunk) [(11) EARNINGS PER SHARE](index=16&type=section&id=(11)%20EARNINGS%20PER%20SHARE) Weighted Average Shares Outstanding (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :---------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Basic weighted average shares outstanding | 29,717 | 30,588 | 30,027 | 30,580 | | Dilutive weighted average shares outstanding | 29,806 | 30,791 | 30,133 | 30,801 | [(12) SEGMENT INFORMATION](index=17&type=section&id=(12)%20SEGMENT%20INFORMATION) Net Sales by Reportable Segment (Three Months Ended June 30, in thousands) | Segment | 2025 Net Sales | 2024 Net Sales | Change (%) | | :-------------- | :------------- | :------------- | :--------- | | Residential | $230,258 | $214,316 | **+7.5%** | | Agtech | $54,092 | $34,508 | **+56.8%** | | Infrastructure | $25,167 | $24,800 | **+1.5%** | | **Total** | **$309,517** | **$273,624** | **+13.1%** | Segment Profit (Loss) (Three Months Ended June 30, in thousands) | Segment | 2025 Segment Profit (Loss) | 2024 Segment Profit | Change (%) | | :-------------- | :------------------------- | :------------------ | :--------- | | Residential | $43,611 | $43,313 | **+0.7%** | | Agtech | $(494) | $2,282 | **-121.6%** | | Infrastructure | $7,083 | $6,215 | **+13.9%** | Net Sales by Reportable Segment (Six Months Ended June 30, in thousands) | Segment | 2025 Net Sales | 2024 Net Sales | Change (%) | | :-------------- | :------------- | :------------- | :--------- | | Residential | $410,252 | $399,427 | **+2.7%** | | Agtech | $99,132 | $68,535 | **+44.6%** | | Infrastructure | $46,490 | $46,672 | **-0.4%** | | **Total** | **$555,874** | **$514,634** | **+8.0%** | Segment Profit (Six Months Ended June 30, in thousands) | Segment | 2025 Segment Profit | 2024 Segment Profit | Change (%) | | :-------------- | :------------------ | :------------------ | :--------- | | Residential | $74,871 | $77,659 | **-3.6%** | | Agtech | $2,891 | $4,890 | **-40.9%** | | Infrastructure | $12,341 | $11,111 | **+11.1%** | - Agtech segment's organic sales decreased due to delayed project starts, despite acquisition-driven revenue growth[100](index=100&type=chunk)[115](index=115&type=chunk) - Infrastructure segment demonstrated strong execution and demand, leading to improved operating margin[101](index=101&type=chunk)[107](index=107&type=chunk)[116](index=116&type=chunk)[121](index=121&type=chunk) [(13) DISCONTINUED OPERATIONS](index=20&type=section&id=(13)%20DISCONTINUED%20OPERATIONS) - In June 2025, the Renewables business was classified as held for sale and discontinued operations, reflecting a strategic shift to focus on Residential, Agtech, and Infrastructure segments[74](index=74&type=chunk) (Loss) Income before Taxes from Discontinued Operations (in thousands) | Period | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :-------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | (Loss) income before taxes | $(5,381) | $1,486 | $(8,544) | $3,799 | Assets and Liabilities of Discontinued Operations (in thousands) | Category | June 30, 2025 | December 31, 2024 | | :-------------------------------------- | :-------------- | :---------------- | | Total assets classified as discontinued operations | $369,736 | $391,436 | | Total liabilities classified as discontinued operations | $93,948 | $92,866 | - No impairment adjustment was recognized for the Renewables business as its fair value less cost to sell was greater than its carrying amount[75](index=75&type=chunk) [(14) SUBSEQUENT EVENT](index=21&type=section&id=(14)%20SUBSEQUENT%20EVENT) - On July 31, 2025, the Company acquired a privately held metal roofing systems manufacturer for **$16.0 million** in cash, to be reported within the Residential segment[79](index=79&type=chunk) - The U.S. enacted the 'One Big Beautiful Bill Act of 2025' on July 4, 2025, but the Company does not expect any material change to its ongoing tax rate as a result of this legislation[78](index=78&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, condition, and outlook, covering business overview, trends, results, liquidity, and accounting estimates [Overview](index=22&type=section&id=Overview) - Gibraltar Industries, Inc. is a leading manufacturer and provider of products and services for the residential, agtech, and infrastructure markets, primarily in North America[83](index=83&type=chunk) - The Company's continuing operations are supported by 36 facilities (31 manufacturing, 5 offices) located in 19 states, Canada, and China[84](index=84&type=chunk) - The Company's business strategy is built on three core pillars: Business System, Portfolio Management, and Organization Development, aimed at driving growth, improving operating performance, and developing talent[88](index=88&type=chunk)[91](index=91&type=chunk) [Recent Trends](index=23&type=section&id=Recent%20Trends) - The Company is closely monitoring macroeconomic conditions, including potential impacts from tariffs on raw materials (steel and aluminum), and volatility in demand, material costs, and logistics[86](index=86&type=chunk)[87](index=87&type=chunk) - In June 2025, the Company committed to selling its Renewables business, a strategic shift to focus its asset portfolio and resources on its Residential, Agtech, and Infrastructure segments[92](index=92&type=chunk) - A new share repurchase program of up to **$200 million** was authorized in April 2025, with a three-year duration[93](index=93&type=chunk) - In Q1 2025, the Company completed two significant acquisitions: Lane Supply for **$117 million** (Agtech segment) and two metal roofing manufacturers for **$90 million** (Residential segment)[94](index=94&type=chunk)[95](index=95&type=chunk) - The Company sold its electronic locker business within the Residential segment in December 2024 for net proceeds of **$28 million**[96](index=96&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) [Three Months Ended June 30, 2025 Compared to the Three Months Ended June 30, 2024](index=24&type=section&id=Three%20Months%20Ended%20June%2030,%202025%20Compared%20to%20the%20Three%20Months%20Ended%20June%2030,%202024) Consolidated Financial Performance (Three Months Ended June 30, in thousands) | Metric | 2025 | 2024 | Change (%) | | :-------------------------------------- | :----------- | :----------- | :--------- | | Net sales | $309,517 | $273,624 | **+13.1%** | | Gross profit | $87,835 | $83,328 | +5.4% | | Gross margin | 28.4% | 30.5% | -2.1 pp | | Selling, general, and administrative expense | $48,329 | $42,506 | +13.7% | | Income from operations | $39,506 | $40,822 | -3.2% | | Operating margin | 12.8% | 14.9% | -2.1 pp | - Consolidated net sales increased by **$35.9 million (13.1%)**, driven by **$50.0 million** from Q1 2025 acquisitions, partially offset by a **4% decrease** in organic revenue due to delayed Agtech projects and the prior year's electronic locker business sale[98](index=98&type=chunk) - Agtech segment operating margin declined to **(0.9)% from 6.6%** due to costs related to the Lane Supply acquisition and the impact of shifting large projects to the second half of the year[106](index=106&type=chunk) - Infrastructure segment operating margin improved to **28.1% from 25.1%**, driven by strong execution, supply chain management, and product line mix[107](index=107&type=chunk) [Six Months Ended June 30, 2025 Compared to the Six Months Ended June 30, 2024](index=27&type=section&id=Six%20Months%20Ended%20June%2030,%202025%20Compared%20to%20the%20Six%20Months%20Ended%20June%2030,%202024) Consolidated Financial Performance (Six Months Ended June 30, in thousands) | Metric | 2025 | 2024 | Change (%) | | :-------------------------------------- | :----------- | :----------- | :--------- | | Net sales | $555,874 | $514,634 | **+8.0%** | | Gross profit | $157,688 | $155,415 | +1.5% | | Gross margin | 28.4% | 30.2% | -1.8 pp | | Selling, general, and administrative expense | $89,527 | $84,501 | +5.9% | | Income from operations | $68,161 | $70,914 | -3.9% | | Operating margin | 12.3% | 13.8% | -1.5 pp | - Consolidated net sales increased by **$41.2 million (8.0%)**, driven by **$65.3 million** from current year acquisitions, partially offset by a **3.6% decrease** in organic revenue[113](index=113&type=chunk) - Residential segment operating margin declined to **18.3% from 19.4%** due to product mix and lower volume[119](index=119&type=chunk) - Agtech segment operating margin declined to **2.9% from 7.1%** due to acquisition costs and the impact of shifting large projects to the second half of the year[120](index=120&type=chunk) - Infrastructure segment operating margin improved to **26.5% from 23.8%** due to strong execution, supply chain management, and product line mix[121](index=121&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) [Sources of Liquidity](index=29&type=section&id=Sources%20of%20Liquidity) Liquidity Position (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :-------------------------------- | :-------------- | :---------------- | | Cash and cash equivalents | $43,291 | $269,480 | | Availability on revolving credit facility | $394,946 | $395,069 | | **Total Liquidity** | **$438,237** | **$664,549** | - The Company's primary sources of liquidity are cash on hand and its **$400 million** revolving credit facility, with **$394.9 million** available as of June 30, 2025[127](index=127&type=chunk) [Uses of Cash / Cash Requirements](index=29&type=section&id=Uses%20of%20Cash%20/%20Cash%20Requirements) - Short-term cash requirements include accounts payable, employee and retiree benefit obligations, operating lease obligations, capital expenditures, and other purchase obligations[130](index=130&type=chunk) - Long-term capital requirements are for funding working capital, capital improvements, acquisitions, and strategically allocating capital through share repurchases[130](index=130&type=chunk) - A new **$200 million** share repurchase program was authorized in April 2025, with a three-year duration[131](index=131&type=chunk) [Cash Flows](index=30&type=section&id=Cash%20Flows) Cash Flow Summary (Six Months Ended June 30, in thousands) | Activity | 2025 | 2024 | Change (%) | | :-------------------------------------- | :----------- | :----------- | :--------- | | Operating activities of continuing operations | $48,630 | $90,411 | **-46.2%** | | Investing activities of continuing operations | $(221,554) | $(7,326) | **-2924.4%** | | Financing activities | $(62,499) | $(1,447) | **-4218.5%** | | Discontinued operations | $8,954 | $(1,789) | **+599.4%** | | Net (decrease) increase in cash and cash equivalents | $(226,189) | $79,676 | **-384.0%** | - Net cash provided by operating activities of continuing operations decreased significantly due to **$26.7 million** invested in working capital, primarily from increases in accounts receivable and inventory[136](index=136&type=chunk) - Net cash used in investing activities increased substantially due to **$192.9 million** for acquisitions and **$29.0 million** for capital expenditures[138](index=138&type=chunk) - Net cash used in financing activities increased significantly due to **$60.0 million** in common stock repurchases[140](index=140&type=chunk) [Critical Accounting Estimates](index=31&type=section&id=Critical%20Accounting%20Estimates) - The Company reinstated critical accounting estimates related to measuring and recognizing the fair value of assets acquired and liabilities assumed in significant business combinations due to the **three businesses acquired in 2025**[142](index=142&type=chunk) - Significant judgment and the use of independent valuation specialists are necessary to determine the fair value of long-lived assets and identified intangible assets in business combinations, using discounted cash flow methods, market appraisals, and other valuation techniques[143](index=143&type=chunk)[144](index=144&type=chunk) [Recent Accounting Pronouncements](index=31&type=section&id=Recent%20Accounting%20Pronouncements) - The Company determined that the adoption of recent accounting pronouncements would not have a material effect on its financial position, results of operations, or cash flows[28](index=28&type=chunk)[145](index=145&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The Company faces market risks from economic conditions, competition, interest rates, foreign exchange, and raw material pricing, with no material changes - The Company is exposed to market risks including changes in general economic conditions, competition, interest rates, foreign exchange rates, and raw materials pricing and availability[146](index=146&type=chunk) - No material changes in market risk disclosures have occurred since December 31, 2024[146](index=146&type=chunk) [Item 4. Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls were effective as of June 30, 2025, with 2025 acquisitions excluded and a new ERP system implemented in Residential - The Company's disclosure controls and procedures were effective as of June 30, 2025[147](index=147&type=chunk) - The 2025 acquisitions (Lane Supply, Inc. and two metal roofing related businesses) will be excluded from management's annual report on internal control over financial reporting for the year ending December 31, 2025[148](index=148&type=chunk) - A new Enterprise Resource Planning (ERP) system was implemented for two operating units in the Residential segment, expected to improve user access security and automate accounting and reporting processes[148](index=148&type=chunk)[149](index=149&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The Company is involved in routine litigation, not expecting material adverse effects, with no material resolutions this quarter - The Company does not believe that the ultimate outcome of any pending litigation will have a material effect on its consolidated financial condition, results of operations, or liquidity[150](index=150&type=chunk) - No material legal proceedings were terminated, settled, or otherwise resolved during the quarter ended June 30, 2025[151](index=151&type=chunk) [Item 1A. Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors have occurred since the prior Form 10-Q and Annual Report on Form 10-K - No material changes from the risk factors previously disclosed in the Company's Form 10-Q for the quarter ended March 31, 2025, and the Annual Report on Form 10-K for the fiscal year ended December 31, 2024[152](index=152&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) A new **$200 million** share repurchase program was authorized in April 2025, replacing the expired program, with no purchases or unregistered sales this quarter - A new share repurchase program of up to **$200 million** of common stock was authorized in April 2025, with a duration of three years, ending April 30, 2028[153](index=153&type=chunk) - The previously authorized share repurchase program expired on May 2, 2025[154](index=154&type=chunk) - The Company did not purchase shares during the quarter ended June 30, 2025, under the new program[154](index=154&type=chunk) [Item 3. Defaults Upon Senior Securities](index=32&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable to the Company for the reporting period - Not applicable[155](index=155&type=chunk) [Item 4. Mine Safety Disclosures](index=32&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the Company for the reporting period - Not applicable[156](index=156&type=chunk) [Item 5. Other Information](index=33&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 or non-Rule 10b5-1 trading arrangements were adopted, modified, or terminated by directors or officers this quarter - None of the Company's directors or officers adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" during the quarter ended June 30, 2025[157](index=157&type=chunk) [Item 6. Exhibits](index=33&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Quarterly Report on Form 10-Q, including corporate governance, Sarbanes-Oxley certifications, and XBRL files - Exhibits include amendments to the Certificate of Incorporation, Second Amended and Restated By-Laws, certifications by the CEO and CFO under Sections 302 and 906 of the Sarbanes–Oxley Act of 2002, and Inline XBRL documents[158](index=158&type=chunk) [SIGNATURES](index=34&type=section&id=SIGNATURES) The Quarterly Report on Form 10-Q was signed by the Chairman, President, CEO, and CFO on August 6, 2025 - The report was signed by William T. Bosway (Chairman of the Board, President and Chief Executive Officer) and Joseph A. Lovechio (Vice President and Chief Financial Officer) on August 6, 2025[161](index=161&type=chunk)