$ROCK

GIBRALTAR INDUSTRIES, INC.

CIK:0000912562|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 509,547	$ 309,517	$ 865,834	$ 555,874
Cost of sales	377,470	221,682	654,886	398,186
Gross profit	132,077	87,835	210,948	157,688
Selling, general, and administrative expense	72,258	48,329	155,585	89,527
Operating income	59,819	39,506	55,363	68,161
Interest expense (income), net	20,965	354	33,989	(1,283)
Other expense (income), net	895	(105)	81	(29)
Income before taxes from continuing operations	37,959	39,257	21,293	69,473
Provision for income taxes	10,626	9,819	6,012	16,920
Income from continuing operations	27,333	29,438	15,281	52,553
Loss before taxes from discontinued operations	(22,582)	(5,381)	(82,453)	(8,544)
Benefit of income taxes from discontinued operations	(3,439)	(1,947)	(7,892)	(3,114)
Loss from discontinued operations	(19,143)	(3,434)	(74,561)	(5,430)
Net income (loss)	$ 8,190	$ 26,004	$ (59,280)	$ 47,123
Net earnings per share:
Basic (in dollars per share)	$ 0.92	$ 0.99	$ 0.51	$ 1.75
Income from discontinued operations (in dollars per share)	(0.64)	(0.12)	(2.50)	(0.18)
Net (loss) income (in dollars per share)	$ 0.28	$ 0.87	$ (1.99)	$ 1.57
Basic (in shares)	29,770	29,717	29,781	30,027
Weighted average shares outstanding:
Diluted (in dollars per share)	$ 0.92	$ 0.99	$ 0.51	$ 1.74
Income from discontinued operations (in dollars per share)	(0.64)	(0.12)	(2.50)	(0.18)
Net (loss) income (in dollars per share)	$ 0.28	$ 0.87	$ (1.99)	$ 1.56
Diluted (in shares)	29,809	29,806	29,835	30,133

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net income available to common stockholders	$ (59,280)	$ 47,123
Loss from discontinued operations	(74,561)	(5,430)
Income from continuing operations	15,281	52,553
Adjustments to reconcile income from continuing operations to net cash (used in) provided by operating activities:
Depreciation and amortization	35,718	16,100
Stock compensation expense	5,147	6,237
Provision for deferred income taxes	921	0
Other, net	4,071	442
Changes in operating assets and liabilities net of effects from acquisitions:
Trade receivables and costs in excess of billings	(90,134)	(25,240)
Inventories	(23,500)	(12,864)
Other current assets and other assets	(10,027)	(6,168)
Accounts payable	75,232	18,281
Accrued expenses and other non-current liabilities	(2,714)	(711)
Net cash provided by operating activities of continuing operations	9,995	48,630
Net cash (used in) provided by operating activities of discontinued operations	(47,397)	9,928
Net cash (used in) provided by operating activities	(37,402)	58,558
Cash Flows from Investing Activities
Acquisitions, net of cash acquired	(1,339,657)	(192,946)
Purchases of property, plant, and equipment, net	(11,193)	(28,960)
Net proceeds from sale of business	0	352
Net cash used in investing activities of continuing operations	(1,350,850)	(221,554)
Net cash provided by (used in) investing activities of discontinued operations	74,944	(974)
Net cash used in investing activities	(1,275,906)	(222,528)
Cash Flows from Financing Activities
Proceeds from long-term debt	1,321,000	0
Long-term debt payments	(75,000)	0
Payment of debt issuance costs	(29,311)	0
Purchase of common stock at market prices	(3,928)	(62,499)
Net cash provided by (used in) financing activities	1,212,761	(62,499)
Effect of exchange rate changes on cash	(30)	280
Net decrease in cash and cash equivalents	(100,577)	(226,189)
Cash and cash equivalents at beginning of year	115,724	269,480
Cash and cash equivalents at end of period	$ 15,147	$ 43,291

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 15,147	$ 115,724
Trade receivables, net of allowance of $3,004 and $2,558, respectively	259,987	120,327
Costs in excess of billings, net	23,772	26,799
Inventories, net	268,010	116,770
Prepaid expenses and other current assets	74,430	56,904
Assets of discontinued operations	71,098	192,362
Total current assets	712,444	628,886
Property, plant, and equipment, net	190,518	130,456
Operating lease assets	164,046	55,355
Goodwill	939,052	415,032
Customer relationships, net	620,097	109,092
Other intangibles, net	140,721	34,464
Other assets	19,407	20,318
Total assets	2,786,285	1,393,603
Current liabilities:
Accounts payable	210,672	108,216
Accrued expenses	199,671	155,807
Billings in excess of costs	6,328	8,879
Liabilities of discontinued operations	72,304	93,120
Total current liabilities	488,975	366,022
Long-term debt	1,218,076	0
Deferred income taxes	12,936	5,116
Non-current operating lease liabilities	151,202	46,199
Other non-current liabilities	24,344	25,868
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized 10,000 shares; none outstanding	0	0
Common stock, $0.01 par value; authorized 100,000 shares; 34,698 and 34,482 shares issued and outstanding, respectively	347	345
Additional paid-in capital	358,365	353,018
Retained earnings	772,183	831,463
Accumulated other comprehensive loss	(5,952)	(3,683)
Treasury stock, at cost; 5,015 and 4,935 shares, respectively	(234,191)	(230,745)
Total stockholders’ equity	890,752	950,398
Total liabilities and shareholders' equity	$ 2,786,285	$ 1,393,603