Gibraltar Reports Third Quarter 2026 Results

Net sales +54% with acquisition of OmniMax and Residential organic growth of 3.1%

Residential significantly outperformed a weak end market; Agtech project delays affected revenue and margin

Raising 2026 synergy commitment $7.3M to $36.5M

EPS GAAP $0.69, Adjusted $1.01 – Adjusting 2026 guidance for slower Residential outlook and Infrastructure reclassification into discontinued operations

BUFFALO, N.Y.--(BUSINESS WIRE)-- Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the residential and agtech markets, today reported its financial results for the three-month and nine-month period ended September 30, 2026.

“Our residential business delivered solid revenue and margin performance in an end market that declined 13% in the quarter, slowing more than 2.5 times our expectation going into the quarter. Despite sector weakness, our Residential business generated organic growth of 3.1% and delivered 18.9% adjusted EBITDA margin. Sequentially, we held margin flat despite revenue decreasing 6.3% and the incremental inflation absorbed in the quarter across steel, logistics, and fuel. Our Agtech business was impacted by two large controlled environmental agriculture (CEA) project delays resulting in a significant shift of revenue and margin out of the quarter. One of these projects has recently received permitting approval and we expect the second project to receive approval in December,” stated Chairman and CEO Bill Bosway.

“We remained focused on our core strategic priorities – simplifying the portfolio, strengthening the balance sheet, integrating OmniMax, and optimizing the Residential business. We recently announced an agreement to divest our Infrastructure business, D.S. Brown, for $208 million and expect this transaction to close in the fourth quarter. To accelerate Residential optimization, we have implemented an additional $7.3 million of cost synergies and are raising our 2026 commitment to $36.5 million. We also continued to gain participation in the market and were recently recognized by Lowes as a divisional Building Products Vendor Partner of the Year. These achievements underscore the inherent opportunity and strength of our collective value proposition particularly given the near-term challenges in today’s market environment.”

As a reminder, Gibraltar completed the divestiture of the Renewables business on July 15, 2026.

Third Quarter 2026 Results from Continuing Operations

Net Sales

• Driven primarily by the OmniMax acquisition and organic growth of 3.1% in Residential and 3.0% in Agtech

GAAP Income / EPS

• Includes pretax expenses of $9.9 million, or $0.32 per share, primarily related to OmniMax acquisition integration and restructuring costs

Adjusted Net Income / EPS

• $30.1 million, or $1.01 per share, including the interest expense impact of $21.5 million
• Margin impacted by volume, incremental inflation in steel, fuel, and freight partially offset by cost reduction initiatives and participation gains

Adjusted measures are further described in the appended reconciliation of adjusted financial measures.

Third Quarter Segment Results

Residential

Net Sales

• OmniMax contributed $160.7 million - assuming OmniMax was owned in Q3 2025, Building Products grew 4.1%
• Price and participation gains helped offset a slower than expected market which was down as new construction and existing home sales weakened further

Operating Income / EBITDA

• Adjusted EBITDA margin was essentially flat on a sequential basis
• Price / cost reduction countermeasures helped offset reduction in volume and incremental inflation across steel, logistics, and fuel absorbed in the quarter

OmniMax Integration

• Integration Management Office driving 11 core workstreams – $7.8 million in synergies realized in third quarter, $14.5 million year-to-date – increased 2026 annualized synergy run rate an additional $7.3 million to $36.5 million
• Consolidating two facilities, regional brands, and decreasing SKU complexity by 44% - expect to contribute annual run rate savings over $5 million
• Recognized by Lowes as Building Products divisional Vendor Partner of the Year
• Technology integration – ERP consolidation with two conversions completed and four remaining in the building products group. Common analytics, CRM, and network infrastructure integration underway

Agtech

Net sales growth was up 3.0% but lower than expected due to CEA and Structures customers experiencing construction permit delays impacting revenue in the quarter and second half. Backlog at the end of the quarter was $45.6 million, down 55%, but has subsequently increased with recent project awards post quarter end.

Adjusted operating and EBITDA margin driven by volume, business mix, and 80/20 operating initiatives.

Infrastructure

Sales decreased $1.8 million and order backlog increased 10% Margin was impacted by lower volume and product mix.

Balance Sheet and Cash Flow

Gibraltar’s policy with respect to cash allocation will be to keep a minimum amount of cash on hand, use the revolver as needed to fund seasonal working capital and pay down debt with excess cash flow.

During the quarter, Gibraltar generated $9.4 million from continuing operations; discontinued operations used $8.2 million in cash. Net debt on the balance sheet was $1.2 billion and revolving credit facility availability was $451 million at quarter-end.

Adjusting 2026 Outlook Range for Continuing Operations

On October 15, 2026 Gibraltar announced that it has entered into an agreement to divest its Infrastructure business, D.S. Brown, for $208 million in cash, subject to customary post-closing adjustments; the transaction is expected to close during the fourth quarter. As a result, this segment will be reclassified as a discontinued operation as of the fourth quarter of 2026.

Taking into consideration lower than expected third quarter results, a lower fourth quarter outlook and the reclassification of Infrastructure as a discontinued operation, Gibraltar is adjusting its 2026 outlook for continuing operations.

Mr. Bosway concluded, “Our teams have the experience and skill to execute through prolonged, tough market environments and we are now significantly better positioned in combination with OmniMax to do so. Our revised outlook for continuing operations assumes the market will not strengthen in the near term, and we are taking all resulting integration, lean, simplification and pricing actions to serve our customers with excellence and preserve our margins.”

In conjunction with fourth quarter 2026 reporting, Gibraltar will provide complete recast historical results for continuing operations excluding results from the Infrastructure segment, which will be available for access in the Investors section of the Company’s website.

Third Quarter 2026 Conference Call Details

Gibraltar will host a conference call today starting at 9:00 a.m. ET to review its results for the third quarter of 2026. Interested parties may access the webcast through the Investors section of the Company’s website at www.gibraltar1.com, where related presentation materials will also be posted prior to the conference call. The call also may be accessed by dialing (877) 407-3088 or (201) 389-0927. For interested individuals unable to join the live conference call, a webcast replay will be available on the Company’s website for one year.

About Gibraltar

Gibraltar is a leading manufacturer and provider of products and services for the residential and agtech markets. Gibraltar’s mission, to make life better for people and the planet, is fueled by advancing the disciplines of engineering, science, and technology. Gibraltar is innovating to reshape critical markets in comfortable living and productive growing throughout North America. For more please visit www.gibraltar1.com.

Forward-Looking Statements

Certain information set forth in this news release, 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 position. These statements are not guarantees of future performance and are subject to a number of risk factors, uncertainties, and assumptions. Actual events, performance, or results could differ materially from the anticipated events, performance, or results expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from current expectations include, among other things, the ability of Gibraltar to successfully integrate OmniMax and/or to achieve expected cost and operational synergies from the OmniMax transaction; tariffs and retaliatory tariffs imposed by the United States or other countries on imported goods, including raw materials used in the manufacturing of the Company’s products; changes to economic conditions and customer demand for the Company’s products; the availability and pricing of principal raw materials and component parts, supply chain challenges causing project delays and field operations inefficiencies and disruptions, the loss of any key customers, adverse effects of inflation, the ability to continue to improve operating margins, the ability to generate order flow and sales and increase backlog; the ability to translate backlog into net sales, other general economic conditions and conditions in the particular markets in which we operate, changes in spending due to laws and government incentives, such as the Infrastructure Investment and Jobs Act, changes in customer demand and capital spending, competitive factors and pricing pressures, the ability to develop and launch new products in a cost-effective manner, the ability to realize synergies from newly acquired businesses, disruptions to IT systems, the impact of trade and regulation, rebates, credits and incentives and variations in government spending and ability to derive expected benefits from restructuring, productivity initiatives, liquidity enhancing actions, and other cost reduction actions; the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement with respect to D.S. Brown or could cause the consummation of the transaction to be delayed or to fail to occur; the failure to obtain certain required regulatory approvals or the failure to satisfy any of the other closing conditions to the completion of the transaction within the expected timeframes or at all; the effect of the transaction on the ability of Gibraltar to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business, or on its operating results and business generally; the ability of Gibraltar to meet expectations regarding the timing and completion of the sale transaction and the outcome of any legal proceedings that may be instituted against Gibraltar related to the sale transaction. Before making any investment decisions regarding the company, we strongly advise you to read the section entitled “Risk Factors” in the most recent annual report on Form 10-K which can be accessed under the “SEC Filings” link of the “Investor Info” page of the website at www.Gibraltar1.com. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law or regulation.

Adjusted Financial Measures

To supplement Gibraltar’s consolidated financial statements presented on a GAAP basis, Gibraltar also presented certain adjusted financial measures in this news release and its quarterly conference call, including adjusted net sales, adjusted operating income and margin, adjusted net income, adjusted earnings per share (EPS), free cash flow and adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) and Adjusted EBITDA margin, each a non-GAAP financial measure. Unless otherwise indicated, the consolidated financial statements, disclosures and related information disclosed herein relate to the Company's continuing operations, which exclude its Renewables business which was classified as a discontinued operation as of June 30, 2025. The Company has recast prior period amounts to reflect discontinued operations. Adjusted net income, operating income and margin exclude special charges consisting of restructuring costs (primarily comprised of exit activities costs and impairment of assets associated with 80/20 simplification, lean initiatives and / or discontinued products), acquisition related costs (legal and consulting fees, and integration costs for recent business acquisitions), and portfolio management. These special charges are excluded since they may not be considered directly related to the Company’s ongoing business operations. The aforementioned exclusions along with other adjustments to other income below operating profit are excluded from adjusted EPS. Adjusted EBITDA and Adjusted EBITDA margin further excludes interest, taxes, depreciation, amortization and stock compensation expense. In evaluating its business, the Company considers and uses these non-GAAP financial measures as supplemental measures of its operating performance. Free cash flow is operating cash flow less capital expenditures and the related margin is free cash flow divided by net sales. The Company believes that the presentation of adjusted measures and free cash flow provides meaningful supplemental data to investors, as well as management, that are indicative of the Company’s core operating results and facilitates comparison of operating results across reporting periods as well as comparison with other companies. Adjusted EBITDA and free cash flow are also useful measures of the Company’s ability to service debt and adjusted EBITDA is one of the measures used for determining the Company’s debt covenant compliance.

Adjustments to the most directly comparable financial measures presented on a GAAP basis are quantified in the reconciliation of adjusted financial measures provided in the supplemental financial schedules that accompany this news release. These adjusted measures should not be viewed as a substitute for the Company’s GAAP results and may be different than adjusted measures used by other companies and the Company’s presentation of non-GAAP financial measures should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items.

Reconciliations of non-GAAP measures related to full-year 2026 guidance have not been provided due to the unreasonable efforts it would take to provide such reconciliations due to the high variability, complexity and uncertainty with respect to forecasting and quantifying certain amounts that are necessary for such reconciliations.