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Gibraltar's Q4 Earnings Top Estimates While Sales Miss, Stock Up
ROCKGibraltar Industries(ROCK) ZACKS·2025-02-20 17:05

Core Insights - Gibraltar Industries, Inc. (ROCK) reported adjusted earnings for Q4 2024 that exceeded the Zacks Consensus Estimate and showed year-over-year growth, while net sales fell short of expectations and decreased compared to the previous year [1][2][3] Financial Performance - The adjusted EPS for the quarter was 1.01,surpassingtheZacksConsensusEstimateof94centsby7.51.01, surpassing the Zacks Consensus Estimate of 94 cents by 7.5%, compared to an adjusted EPS of 85 cents in the same quarter last year [4] - Quarterly net sales were 302.1 million, missing the consensus mark of 315millionby4.1315 million by 4.1% and down 8.1% from 328.8 million in the prior year [5] - Adjusted operating income rose to 38.3millionfrom38.3 million from 34.4 million year-over-year, with an adjusted operating margin expanding 220 basis points to 12.7% [13] Segment Performance - Residential segment net sales decreased 4.8% year-over-year to 170.7million,attributedtomarketsoftnessanddelaysinnewbusinesstransitions[6]−Renewablessegmentnetsalesfell19.6170.7 million, attributed to market softness and delays in new business transitions [6] - Renewables segment net sales fell 19.6% year-over-year to 70.5 million, impacted by customers completing installations ahead of a deadline and a 32% reduction in backlog [8] - Agtech segment net sales increased slightly by 0.7% year-over-year to 42.7million,althoughbacklogdecreasedby2342.7 million, although backlog decreased by 23% [9] - Infrastructure segment net sales dropped 6.7% year-over-year to 18.1 million, but backlog grew by 10% due to strong bid volume conversion [11] Operational Highlights - The adjusted operating margin for the Renewables segment contracted 630 basis points to 7.2%, while the adjusted EBITDA margin decreased to 10.6% [9] - The adjusted operating margin for the Infrastructure segment improved by 180 basis points to 20.4%, with an adjusted EBITDA margin of 24.8% [12] Annual Results - For the full year 2024, Gibraltar reported net sales of 1.31billion,downfrom1.31 billion, down from 1.38 billion in 2023, while adjusted earnings per share increased to 4.25from4.25 from 4.11 [14] Balance Sheet and Cash Flow - As of December 31, 2024, Gibraltar had total liquidity of 665million,includingcashandcashequivalentsof665 million, including cash and cash equivalents of 269.5 million, with no long-term debt [15] 2025 Outlook - The company anticipates net sales in the range of 1.40−1.40-1.45 billion for 2025, with adjusted EPS expected between 4.80−4.80-5.05 [16][17]