Loading...
•
Mar 31, 2022
Gibraltar Q1 2022 Earnings Report
Generated solid revenue and EPS growth despite the continuation of supply issues impacting solar customers.
Key Takeaways
Gibraltar Industries reported a strong first quarter in 2022, with revenue up 11% and EPS up 47%. The company's Residential business performed exceptionally well, while supply chain challenges continued to impact the Renewables segment. Demand remains robust, with backlog up 23%.
Revenue increased by 10.5% to $317.9 million, or 11.8% to $316.0 million adjusted to exclude Agtech's processing equipment business revenue.
GAAP earnings increased 47.6% to $15.5 million, or $0.47 per share.
Adjusted earnings increased 9.4% to $19.7 million, or $0.60 per share.
Order backlog increased by 23% during the quarter, indicating strong demand.
Revenue by Segment
Forward Guidance
Gibraltar reaffirms its full-year 2022 revenue and earnings guidance, expecting consolidated revenue between $1.38 billion and $1.43 billion, GAAP EPS between $2.80 and $3.00, and adjusted EPS between $3.20 and $3.40.
Positive Outlook
- Renewables segment is expected to improve in the second quarter.
- Solid performance is expected in the Residential segment.
- Agtech segment's performance is expected to continue improving.
- Infrastructure is expected to have a solid year with favorable business mix and improved efficiency.
- Current demand across the business remains strong.
Challenges Ahead
- Potential exposure to the Department of Commerce’s solar panel anti-circumvention investigation.
- Continued work with customers to assess potential exposure.
- Supply chain challenges impacting the solar industry.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...