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Dec 31, 2022
Gibraltar Q4 2022 Earnings Report
Announced fourth quarter earnings, with adjusted EPS improving despite a sales reduction.
Key Takeaways
Gibraltar Industries reported a decrease in revenue but an increase in adjusted net income and adjusted EPS for Q4 2022. The company's performance was driven by profitability improvements in the Renewables and Infrastructure segments.
Adjusted net income increased by 20.4%.
Adjusted EPS increased by 28.6%.
Free cash flow represented 19% of revenue.
Revenue decreased by 6.1%.
Revenue by Segment
Forward Guidance
Gibraltar is providing guidance for revenue and earnings for the full year 2023. Consolidated revenue is expected to range between $1.36 billion and $1.41 billion, compared to $1.38 billion in 2022. GAAP EPS is expected to range between $3.04 and $3.24, compared to $2.56 in 2022, and adjusted EPS is expected to range between $3.46 and $3.66, compared to $3.40 in 2022.
Positive Outlook
- Residential market will return to normal demand seasonality.
- Panel supply for the solar industry will improve in the second half of the year.
- Agtech projects for produce growing will get finalized.
- Good operating momentum.
- Plan to deliver full year growth, margin expansion, and strong cash performance for the year.
Challenges Ahead
- Fluid external environment.
- Ongoing supply chain challenges.
- Potential delays in project finalization.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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