Gibraltar Q3 adjusted EPS up 23%, net sales flat; raises 2023 EPS guidance

GIBRALTAR INDUSTRIES, INC.

GAAP EPS $1.28 vs $1.08 (+19%); adjusted EPS $1.38 vs $1.12 (+23%).
Net sales $390.7M flat YoY; free cash flow to net sales improved to 23% from 8.6%.
Backlog up 5% YoY; Renewables backlog up 13.3% despite segment revenue down 4.2%.
Raising 2023 GAAP EPS guidance to $3.51-$3.71; adjusted EPS to $4.05-$4.15.
Narrowing net sales outlook to $1.37B-$1.40B; previously $1.41B-$1.45B.

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 three-month period ended September 30, 2023 results: revenue $390.7, net income $39.3 million, EPS $1.28 per share. Guidance raised.

Period: three-month period ended September 30, 2023
Revenue: $390.7
Net income: $39.3 million
EPS: $1.28 per share
Guidance: raised
Result: reported results

Exact text from the filing

and CEO Bill Bosway. Third Quarter 2023 Consolidated Results Three Months Ended September 30, $Millions, except EPS GAAP Adjusted 2023 2022 Change 2023 2022 Change Net Sales $390.7 $391.3 (0.2)% $390.0 $389.0 0.3% Net Income $39.3 $34.3 14.6% $42.5 $35.7 19.0% Diluted EPS $1.28 $1.08 18.5% $1.38 $1.12 23.2% Net sales were flat, driven by the timing of active

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Source: SEC EDGAR

accession 0000912562-23-000044

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