Gibraltar Q2 adj EPS $1.18 (+23% YoY), raises FY adj EPS outlook to $3.90-$4.10

GIBRALTAR INDUSTRIES, INC.

Q2 net sales $364.9M flat YoY; GAAP EPS $1.00 (+11%), adj EPS $1.18 (+23%), adj net income $36.3M.
Backlog $412M (+15% seq, +1% YoY); free cash flow 20% of sales; solid working capital management.
FY 2023 adjusted EPS outlook raised to $3.90-$4.10 (prev $3.40); GAAP EPS $3.46-$3.66; net sales reaffirmed $1.36-$1.41B.
Renewables adj op margin improved 470 bps to 11.7% despite 23.6% sales drop; Residential sales +14% (12.7% acquisition).
Adopted CIC severance plan July 28: CEO gets 2.5x (salary+bonus), other execs 2x on qualifying termination.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GIBRALTAR INDUSTRIES, INC. reported the three-month period ended June 30, 2023 results: revenue $364.9, net income $30.7 million, EPS $1.00 per share. Guidance raised.

Period: the three-month period ended June 30, 2023
Revenue: $364.9
Net income: $30.7 million
EPS: $1.00 per share
Guidance: raised
Result: reported results

Exact text from the filing

and CEO Bill Bosway. Second Quarter 2023 Consolidated Results Three Months Ended June 30, $Millions, except EPS GAAP Adjusted 2023 2022 Change 2023 2022 Change Net Sales $364.9 $366.9 (0.5)% $364.1 $364.2 0.0% Net Income $30.7 $29.3 4.8% $36.3 $31.5 15.2% Diluted EPS $1.00 $0.90 11.1% $1.18 $0.96 22.9% Net sales were flat, driven by the acquisition of

View on SEC.gov

Browse all earnings releases →

GIBRALTAR INDUSTRIES, INC. filing history →

Source: SEC EDGAR

accession 0000912562-23-000035

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.