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VANCOUVER, BC, June 26, 2024 (GLOBE NEWSWIRE) -- AMERICAN SALARS LITHIUM INC. ("AMERICAN SALARS" OR THE "COMPANY") (CSE: USLI, OTC: ASALF, FWB: Z3P, WKN: A3E2NY) announces it has received confirmation that the ALS Geochemistry Laboratory in Reno Nevada has received 121 samples collected from the Company's 100% owned Black Rock South Lithium Brine Project, located 11 miles north of the "Galt" claim group under option to Surge Battery Metals (CSE: NILI). Samples will be processed using Boyd RSD rotary crusher ...

Additionally, the company could be a top pick for growth investors. ROCK has a Growth Style Score of B, forecasting year-over-year earnings growth of 16.6% for the current fiscal year. With a solid Zacks Rank and top-tier Growth and VGM Style Scores, ROCK should be on investors' short list. One analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.06 to $4.79 per share. ROCK also boasts an average earnings surprise of 12.2%. ...

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Gibraltar Industries, Inc. (NASDAQ:ROCK) Q1 2024 Earnings Conference Call May 1, 2024 9:00 AM ET Company Participants Carolyn Capaccio - LHA Investor Relations Bill Bosway - Chairman, President & Chief Executive Officer Tim Murphy - Chief Financial Officer Conference Call Participants Daniel Moore - CJS Securities Julio Romero - Sidoti & Company Walt Liptak - Seaport Global Securities Operator Greetings. Welcome to the Gibraltar Industries First Quarter 2024 Financial Results Conference Call. At this time, ...

RENEWABLES – TERRASMART™ TERRATRAK: STRENGTHENING MARKET POSITION § Signed contracts and design engagement continues to accelerate with customers ̶ Designed for both screw and pile foundations ̶ On-site smart weather stations and forecasting Project slippage is reducing – more upfront discussion with customers in setting project plans Uyghur Forced Labor Prevention Act (UFLPA) 1st AD/CVD complaint (concluded August 2023) Awaiting final Department of Treasury guidance for 10% domestic content tax incentive R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-22462 GIBRALTAR INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or Other Juris ...

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) [First Quarter 2024 Overview](index=1&type=section&id=First%20Quarter%202024%20Overview) Gibraltar Industries reported Q1 2024 growth in adjusted net sales and EPS, reaffirming its full-year outlook - 2024 started as planned, with revenue growth in Residential, Agtech, and Infrastructure offsetting a slower Renewables business[3](index=3&type=chunk) - Strong operating cash flow generation of **$53.2 million** in Q1 2024[2](index=2&type=chunk) - Reaffirming 2024 outlook for **4-9% revenue growth** and **12-20% EPS growth**[2](index=2&type=chunk) [Consolidated Financial Performance](index=1&type=section&id=Consolidated%20Financial%20Performance) Consolidated Q1 2024 adjusted net sales grew 1.3% and adjusted diluted EPS increased 12.7%, driven by three segments First Quarter 2024 Consolidated Results | $Millions, except EPS | 2024 GAAP | 2023 GAAP | GAAP Change | 2024 Adjusted | 2023 Adjusted | Adjusted Change | | :-------------------- | :-------- | :-------- | :---------- | :------------ | :------------ | :-------------- | | Net Sales | $292.5 | $293.3 | (0.3)% | $292.5 | $288.8 | 1.3% | | Net Income | $24.9 | $21.1 | 18.0% | $24.5 | $22.0 | 11.4% | | Diluted EPS | $0.81 | $0.68 | 19.1% | $0.80 | $0.71 | 12.7% | - Residential, Infrastructure, and Agtech segments collectively generated **4.1% year-over-year net sales growth**[4](index=4&type=chunk) - Consolidated first quarter backlog was **down 3%** versus last year, partly due to Agtech orders shifting from March to April[4](index=4&type=chunk) - Adjusted measures exclude charges for restructuring, acquisition-related items, senior leadership transition costs, portfolio management actions, and results of the Japan renewables business[6](index=6&type=chunk) [Segment Results](index=2&type=section&id=Segment%20Results) [Renewables Segment](index=2&type=section&id=Renewables%20Segment) The Renewables segment saw an anticipated Q1 slowdown with a 10.1% decrease in adjusted net sales due to a customer product transition Renewables Segment Q1 2024 Performance | $Millions | 2024 GAAP | 2023 GAAP | GAAP Change | 2024 Adjusted | 2023 Adjusted | Adjusted Change | | :-------- | :-------- | :-------- | :---------- | :------------ | :------------ | :-------------- | | Net Sales | $51.5 | $59.2 | (13.0)% | $51.5 | $57.3 | (10.1)% | | Operating Income | $1.6 | $2.3 | (30.4)% | $2.0 | $2.7 | (25.9)% | | Operating Margin | 3.2% | 3.8% | (60) bps | 3.9% | 4.7% | (80) bps | - Adjusted net sales decreased **10.1%** due to rapid customer transition to the new 1P tracker product line, which has longer lead times[7](index=7&type=chunk) - Backlog **increased 8%** versus last year, aligning with expectations, as end market demand remains positive[7](index=7&type=chunk) [Residential Segment](index=2&type=section&id=Residential%20Segment) The Residential segment delivered strong Q1 performance with a 3.1% net sales increase and a 200 basis point expansion in adjusted operating margin Residential Segment Q1 2024 Performance | $Millions | 2024 GAAP | 2023 GAAP | GAAP Change | 2024 Adjusted | 2023 Adjusted | Adjusted Change | | :-------- | :-------- | :-------- | :---------- | :------------ | :------------ | :-------------- | | Net Sales | $185.1 | $179.5 | 3.1% | $185.1 | $179.5 | 3.1% | | Operating Income | $34.3 | $29.5 | 16.3% | $34.3 | $29.6 | 15.9% | | Operating Margin | 18.6% | 16.4% | 220 bps | 18.5% | 16.5% | 200 bps | - Net sales increased **3.1%**, with **2.4% organic growth** from participation gains with new and existing customers and geographic expansion[9](index=9&type=chunk) - Adjusted operating margin **expanded 200 basis points** due to solid execution and effective price/cost management[10](index=10&type=chunk) [Agtech Segment](index=3&type=section&id=Agtech%20Segment) The Agtech segment's adjusted net sales grew 2.1% in Q1, though operating income declined due to project delays and mix Agtech Segment Q1 2024 Performance | $Millions | 2024 GAAP | 2023 GAAP | GAAP Change | 2024 Adjusted | 2023 Adjusted | Adjusted Change | | :-------- | :-------- | :-------- | :---------- | :------------ | :------------ | :-------------- | | Net Sales | $34.0 | $35.9 | (5.3)% | $34.0 | $33.3 | 2.1% | | Operating Income | $2.6 | $2.3 | 13.0% | $2.7 | $3.6 | (25.0)% | | Operating Margin | 7.7% | 6.5% | 120 bps | 8.1% | 10.7% | (260) bps | - New bookings accelerated significantly in April with **over $40 million signed**, following a delay from March which caused quarter-end backlog to be down 21%[11](index=11&type=chunk) - Adjusted operating income decreased due to project start date delays and market segment mix[12](index=12&type=chunk) [Infrastructure Segment](index=3&type=section&id=Infrastructure%20Segment) The Infrastructure segment achieved strong Q1 growth with a 17.1% increase in net sales and a 790 basis point margin expansion Infrastructure Segment Q1 2024 Performance | $Millions | 2024 GAAP | 2023 GAAP | GAAP Change | 2024 Adjusted | 2023 Adjusted | Adjusted Change | | :-------- | :-------- | :-------- | :---------- | :------------ | :------------ | :-------------- | | Net Sales | $21.9 | $18.7 | 17.1% | $21.9 | $18.7 | 17.1% | | Operating Income | $4.9 | $2.7 | 81.5% | $4.9 | $2.7 | 81.5% | | Operating Margin | 22.4% | 14.5% | 790 bps | 22.4% | 14.5% | 790 bps | - Net sales **increased 17.1%** due to strong execution, continued solid end market demand, and market participation gains[13](index=13&type=chunk) - Operating margin **increased 790 basis points**, driven by volume, price/cost alignment, strong execution, and improving product mix[14](index=14&type=chunk) - Backlog decreased 10% as expected due to progress on a large project, but demand and quoting remain strong[13](index=13&type=chunk) [Business Outlook](index=4&type=section&id=Business%20Outlook) [Full Year 2024 Guidance](index=4&type=section&id=Full%20Year%202024%20Guidance) The company reaffirmed its full-year 2024 guidance, projecting continued growth across all business segments - Outlook for 2024 is unchanged, with expectations for **strong performance in all four segments**[15](index=15&type=chunk) Full Year 2024 Guidance | Metric | 2024 Guidance Range | 2023 Actual | | :--------------------- | :------------------ | :---------- | | Consolidated Net Sales | $1.43B - $1.48B | $1.37B | | GAAP EPS | $4.04 - $4.29 | $3.59 | | Adjusted EPS | $4.57 - $4.82 | $4.09 | [Company Information](index=4&type=section&id=Company%20Information) [About Gibraltar](index=4&type=section&id=About%20Gibraltar) Gibraltar Industries is a leading manufacturer for the renewable energy, residential, agtech, and infrastructure markets in North America - Gibraltar is a leading manufacturer and provider for **renewable energy, residential, agtech, and infrastructure markets**[17](index=17&type=chunk) - Mission: to make life better for people and the planet by advancing engineering, science, and technology[17](index=17&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section disclaims that future projections are subject to various risks and uncertainties that could cause actual results to differ - Statements are based on current expectations and are not guarantees of future performance, subject to risks and uncertainties[18](index=18&type=chunk) - Factors that could cause actual results to differ include raw material pricing, supply chain challenges, inflation, and regulatory impacts[18](index=18&type=chunk)[19](index=19&type=chunk) - Investors are advised to review the 'Risk Factors' section in the company's most recent Form 10-K[19](index=19&type=chunk) [Conference Call Details](index=4&type=section&id=Conference%20Call%20Details) A conference call to discuss Q1 2024 results was held on May 1, 2024, with webcast and dial-in information provided - Conference call held on **May 1, 2024**, at 9:00 a.m. ET to review Q1 2024 results[16](index=16&type=chunk) - Access available via webcast on the Company's website or by dialing (877) 407-3088 or (201) 389-0927[16](index=16&type=chunk) [Contact Information](index=6&type=section&id=Contact%20Information) Investor relations contact information is provided for inquiries - Investor Relations Contact: LHA Investor Relations, Jody Burfening/Carolyn Capaccio, (212) 838-3777, rock@lhai.com[24](index=24&type=chunk) [Non-GAAP Financial Measures](index=5&type=section&id=Non-GAAP%20Financial%20Measures) [Explanation of Adjusted Measures](index=5&type=section&id=Explanation%20of%20Adjusted%20Measures) The company uses non-GAAP measures to provide supplemental data on core operating results, excluding certain charges - Adjusted measures (e.g., adjusted net sales, operating income, net income, EPS) are presented to supplement GAAP results[20](index=20&type=chunk) - Exclusions from adjusted measures include restructuring costs, acquisition-related items, and portfolio management actions[20](index=20&type=chunk) - These non-GAAP measures are considered useful for investors to understand core operating results and facilitate comparisons[20](index=20&type=chunk) - Reconciliations for full-year 2024 guidance are not provided due to the complexity and uncertainty of forecasting[22](index=22&type=chunk)[23](index=23&type=chunk) [Reconciliation of Adjusted Financial Measures](index=10&type=section&id=Reconciliation%20of%20Adjusted%20Financial%20Measures) [Q1 2024 Reconciliation](index=10&type=section&id=Q1%202024%20Reconciliation) The Q1 2024 reconciliation details adjustments for restructuring, acquisition, and portfolio management items to GAAP results Q1 2024 Consolidated Reconciliation (Selected Items) | Metric | GAAP Reported | Restructuring Charges | Acquisition Related Items | Portfolio Management | Adjusted Financial Measures | | :-------------------------- | :------------ | :-------------------- | :------------------------ | :------------------- | :-------------------------- | | Consolidated sales | $292,506 | — | — | — | $292,506 | | Consolidated income from operations | $31,736 | $445 | $133 | $8 | $32,322 | | Net income | $24,946 | $607 | $99 | $(1,124) | $24,528 | | Net income per share - diluted | $0.81 | $0.02 | — | $(0.03) | $0.80 | | Consolidated Operating margin | 10.8 % | 0.1 % | — % | — % | 11.1 % | [Q1 2023 Reconciliation](index=11&type=section&id=Q1%202023%20Reconciliation) The Q1 2023 reconciliation shows adjustments for various items and a recast to exclude the sold Japan solar business Q1 2023 Consolidated Reconciliation (Selected Items, Recast) | Metric | GAAP Reported | Restructuring & Senior Leadership Transition Costs | Portfolio Management & Acquisition Related Items | Adjusted Financial Measures (Recast) | | :-------------------------- | :------------ | :------------------------------------------------- | :----------------------------------------------- | :----------------------------------- | | Consolidated sales | $293,267 | — | $(2,514) | $288,803 | | Consolidated income from operations | $29,370 | $593 | $714 | $31,127 | | Net income | $21,099 | $453 | $205 | $21,989 | | Net income per share - diluted | $0.68 | $0.02 | — | $0.71 | | Consolidated Operating margin | 10.0 % | 0.2 % | 0.2 % | 10.8 % | [FY 2023 Reconciliation](index=12&type=section&id=FY%202023%20Reconciliation) The full-year 2023 reconciliation details adjustments and a recast to derive adjusted financial measures for the year FY 2023 Consolidated Reconciliation (Selected Items, Recast) | Metric | GAAP Reported | Restructuring Charges | Acquisition Related Items | Adjusted Financial Measures (Recast) | | :-------------------------- | :------------ | :-------------------- | :------------------------ | :----------------------------------- | | Consolidated sales | $1,377,736 | — | $(4,059) | $1,361,953 | | Consolidated income from operations | $150,729 | $18,072 | $5,525 | $173,074 | | Net income | $110,533 | $13,489 | $2,518 | $125,793 | | Net income per share - diluted | $3.59 | $0.43 | $0.09 | $4.09 | | Consolidated Operating margin | 10.9 % | 1.3 % | 0.4 % | 12.7 % | [GAAP Financial Statements](index=7&type=section&id=GAAP%20Financial%20Statements) [Consolidated Statements of Income](index=7&type=section&id=Consolidated%20Statements%20of%20Income) The Q1 2024 income statement reflects a slight decrease in net sales but an increase in gross profit and net income year-over-year Consolidated Statements of Income (Three Months Ended March 31) | (in thousands, except per share data) | 2024 | 2023 | | :------------------------------------ | :-------- | :-------- | | Net sales | $292,506 | $293,267 | | Cost of sales | 208,118 | 216,338 | | Gross profit | 84,388 | 76,929 | | Selling, general, and administrative expense | 52,652 | 47,559 | | Income from operations | 31,736 | 29,370 | | Interest (income) expense | (750) | 1,491 | | Other income | (1,021) | (397) | | Income before taxes | 33,507 | 28,276 | | Provision for income taxes | 8,561 | 7,177 | | Net income | $24,946 | $21,099 | | Diluted Net earnings per share | $0.81 | $0.68 | [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet at March 31, 2024, shows an increase in total assets, driven by higher cash and accounts receivable Consolidated Balance Sheets (as of March 31, 2024, and December 31, 2023) | (in thousands) | March 31, 2024 | December 31, 2023 | | :---------------------------------- | :------------- | :---------------- | | **Assets** | | | | Cash and cash equivalents | $146,665 | $99,426 | | Accounts receivable, net | 230,971 | 224,550 | | Inventories, net | 137,878 | 120,503 | | Total current assets | 530,719 | 462,251 | | Property, plant, and equipment, net | 108,028 | 107,603 | | Goodwill | 511,797 | 513,383 | | Total Assets | $1,319,857 | $1,256,451 | | **Liabilities and Stockholders' Equity** | | | | Accounts payable | $127,533 | $92,124 | | Accrued expenses | 82,805 | 88,719 | | Total current liabilities | 263,599 | 225,578 | | Total stockholders' equity | 940,185 | 914,998 | | Total Liabilities and Stockholders' Equity | $1,319,857 | $1,256,451 | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The company generated strong net cash from operations of $53.2 million in Q1 2024, a significant increase from the prior year Consolidated Statements of Cash Flows (Three Months Ended March 31) | (in thousands) | 2024 | 2023 | | :---------------------------------- | :-------- | :-------- | | Net cash provided by operating activities | $53,181 | $38,045 | | Net cash used in investing activities | (4,366) | (1,636) | | Net cash used in financing activities | (1,434) | (46,509) | | Net increase (decrease) in cash and cash equivalents | 47,239 | (10,111) | | Cash and cash equivalents at end of period | $146,665 | $7,497 |

Gibraltar Industries, Inc. (NASDAQ:ROCK) Q4 2023 Earnings Conference Call February 21, 2024 9:00 AM ET Company Participants Carolyn Capaccio – LHA Investor Relations Bill Bosway – Chairman, President and Chief Executive Officer Tim Murphy – Chief Financial Officer Conference Call Participants Pete Lucas – CJS Securities Julio Romero – Sidoti & Company Walt Liptak – Seaport Global Securities Operator Greetings, and welcome to the Gibraltar Industries Fourth Quarter 2023 Financial Results Conference Call. At ...

FOURTH QUARTER 2023 EARNINGS CALL 1 February 21, 2024 SAFE HARBOR STATEMENTS Forward-Looking Statements Certain information set forth in this presentation, other than historical statements, contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based, in whole or in part, on current expectations, estimates, forecasts, and projections about the Company's business, and management's beliefs about future operations, results, and financial positi ...