Gibraltar Industries : 1st Quarter 2026 Presentation Slides

Published: 2026-05-07 08:35:23 ET ROCK

Published on 05/07/2026 at 08:35 am EDT

May 7, 2026

+44.6%

$356M

NET SALES

Driven by OmniMax and metal roofing and structures acquisitions

Market softness in Residential

Volume impacted by timing of projects / shipments in Agtech and Infrastructure

INCOME & CASH

GAAP results include $32.6 million ($0.80 per share) in deal-related special and 1x charges

Unfavorable price material economics, additional commodity inflation, business and product mix; inefficiencies with mid-Q1 OmniMax close

Used $35 million operating cash flow, including payments related to the OmniMax transaction

Applied $70 million Terrasmart eBOS sale proceeds to debt reduction

Ended quarter with net debt of $1.2B

PORTFOLIO MANAGEMENT

Sale of Renewables racking business on track for completion in Q2

8.6%

$31M

-50%

$0.45

13.8%

$49M

-11%

-$41M

(% of Sales)

Refer to appendix in the earnings news release for adjusted measures reconciliations.

NET SALES*

ADJUSTED PROFIT MEASURES*

OPERATING MARGIN* EBITDA MARGIN*

Q1 26 Q1 25 Q1 26 Q1 25 Q1 26 Q1 25

$281.4

$180.0

+56.3%

-700 bps

18.0%

11.0%

15.6%

19.7%

-410 bps

NET SALES

Driven by two months of OmniMax contribution ($89M) and metal roofing acquisitions ($18M)

Organic revenue: building products down 3.8%, mail and package down 1.5%

Solid start in Q2 - April shipments & bookings positive

ADJUSTED OPERATING & EBITDA MARGIN

Lower volume related to soft end market

Unfavorable price material economics - aluminum prices increased 15.6% in Q1 - price executed across 14 residential brands and operating units in March and April

Operating inefficiencies related to close of OmniMax deal in middle of the quarter

March adjusted EBITDA accelerating to high teens

*Amounts are stated in $Millions. Refer to appendix in the earnings news release for adjusted measures reconciliations.

2026 ARMA SHIPMENTS - Q1

Vs. Prior Year Q1'26 Vs. Q4'25

Northeast

(10.2%) 22.5%

Southeast

(24.6%) 26.3%

Southwest

(0.6%) 56.4%

Midwest

(5.4%) 58.3%

West

(0.5%) 39.2%

Florida

(34.2%) 57.1%

Texas

(1.7%) 57.7%

Total U.S.

(9.8%) 41.1%

Q1 2026 ARMA shipments down with differences by region / market

Customers point to limited weather in 2025, interest rates and affordability, inventory optimization, impact of Middle East conflict

Gibraltar Retail POS units down 6% - 8%, dollars down 0% - 1% YOY - Excluding Florida and Texas, units down 4%-5%, $ up 3% - 4%

Gibraltar Distribution sales down 6% - 7% YOY

Squares (M)

+41%

154

172

169

158

169

161

140

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2019 2020 2021 2022 2023 2024 2025 2026

NATIONAL OPERATING FOOTPRINT

HELPING DRIVE SYNERGIES & PARTICIPATION

Residential (24) OmniMax Facilities (15)

NY MA CT RI

IL IN

MD DE

AL GA

Ability to support local product and service requirements on a national basis - consolidate supply base

Barrie, Ontario

GEOGRAPHIC EXPANSION

Gained business in 40+ new customer branches through participation initiatives with 9 customers located in Texas, Florida, and MW, NE, SE, and Mid-Atlantic regions

CROSS-SELLING INITIATIVES

Now have 60+ locations with existing customers buying a new product category - i.e. ventilation

PRIVATE LABEL PROGRAMS

April shipments and bookings on plan and ahead of 2025 levels

$5.5M of commercial synergies in plan with $4.3M included in FY 2026 EBITDA

After 90 days, the combined business has evolved from Organizational Transition to capturing synergy opportunities

IMO focus shifting from integration to transformation & synergy capture

Combined & communicated 2026 financial plans & goals

On track to deliver $16.3M in year synergy savings

Q4 2026

Product 80/20 Assessment & Strategy

Consolidated corporate Supply Chain team

Service improving to higher levels

Q3 2026

Performance Lift

Service reliability to benchmark levels, commercial excellence upgrades, margin expansion

Q2 2026

Integration Discipline

Build and execute synergy capture, inventory optimization, identify network rationalization opportunities and consolidate procurement

Q1 2026

Organizational Transition

Complete new leader assimilation, assess talent, set priorities, stabalize operating structure and clarify decision rights - Established "Ownership Mindset"

PRE-DAY 1

FIRST 100 DAYS

POST 100 DAYS

Set up IMO and integration governance

Finalize workstreams and identify team leads

Create and execute Day 1 checklists to ensure all necessary activities prior to close are complete

Create and execute Day 100 integration charters & workplans

Finalize integrated high-performing organization - L1/L2/L3

Create business cases for priority workstreams

Narrow focus to high-value workstreams with key synergies

Execute charters & workplans through 2026 and set up for 2027 activities

Finalize business cases for all remaining workstreams

Workstreams supported by the

IMO after the First 100 Days

Supply Chain & Procurement

Organization & Talent

Plant Operations

Manufacturing & Plant Network

Commercial / Go-to-Market

Price Management

Metal Roofing

Logistics

Product / Product Engineering

IT Systems and Data Management

Baseline & Synergies

Workstreams supported by the IMO through the First 100 Days

Commercial/GTM

Product/Product Engineering

Logistics

Manufacturing Engineering

Manufacturing & Plant Network

Plant Ops

Safety/EHS

Supply Chain & Procurement

Communications & Day-1 event planning

Culture

Org & Talent

Baseline & Synergies

Division Accounting

Division Finance / Price Management

Finance & Accounting - Corp

SIOP

Legal

Insurance

IT Systems and Data Management

Tax

Treasury

Note: Workstreams not supported by the IMO post-100 days are reviewed in regular business forum

Today

Supply Chain

SG&A

Direct spend - steel / aluminum / resin

Indirect spend - MRO, packaging, leases, etc.

Organization optimization - L1,L2, L3

Other SG&A spend optimization

2026 SYNERGY PLAN ($M)

Original Plan

Annualized

Realized In FY

1st 12 Months

Run Rate

2026

Supply Chain

$6.0

$6.9

$3.7

Logistics

$5.0

$0.0

SG&A

$5.0

$7.1

$5.7

80/20

$4.0

$4.7

$1.4

Commercial

N/A

$5.5

$4.3

GBP Total

$20.0

$24.2

$15.1

Corporate

N/A

$2.0

$1.2

Total

$20.0

$26.2

$16.3

80/20 ▪ Product line harmonization and rationalization

Facility optimization / PLS / CLS

Salesforce effectiveness, new products

Commercial

Logistics

Participation gains, cross-selling, price mgmt.

Execute $26.2M of synergies of which $16.3M realized in 2026 EBITDA

Identified additional $2.0M with Corporate - $1.2M in 2026

50% of synergy commitment implemented to date - ramping in Q2

Hunting across SG&A categories - i.e. Insurance - $600K

Continue to identify Commercial synergies - leaders of Biz Development and Sales Enablement in place

Optimize logistics network through more favorable rates, cube optimization, etc.

Corporate*

Optimize cost structure for future portfolio requirements - Supply Chain, IT, HR, other

*Corporate category identified with execution started in late March

NET SALES*

ADJUSTED PROFIT MEASURES*

OPERATING MARGIN* EBITDA MARGIN*

Q1 26 Q1 25 Q1 26 Q1 25 Q1 26 Q1 25

$55.6

$45.0

+23.6%

6.3%

10.8%

-450 bps

10.5%

14.1%

-360 bps

NET SALES

Growth driven Lane Supply acquisition - performing as expected with solid demand

Organic volume down ~3% with project movement to later in the year

Backlog of $84M supports full year plan but down 13% in Q1 with the removal of the Arizona project

ADJUSTED OPERATING & EBITDA MARGIN

Driven by lower volume with project movement to later in the year

Includes impact of having full quarter results for Lane in 2026

NET SALES*

ADJUSTED PROFIT MEASURES*

OPERATING MARGIN* EBITDA MARGIN*

Q1 26 Q1 25 Q1 26 Q1 25 Q1 26 Q1 25

$19.2

$21.3

19.3%

24.7%

23.3%

28.2%

-9.9%

-540 bps

-490 bps

NET SALES

Impacted by two separate weather events in March that resulted in shipments being pushed into April and Q2

Customer backlog down 3% driven by timing of project awards but quoting / bid activity remains strong and is expected to drive bookings in Q2 and 2026

ADJUSTED OPERATING & EBITDA MARGIN

Impacted by volume / shipments moving into April and business mix

Cash and Liquidity

Cash and Cash Equivalents Availability under Revolver

Total Available Liquidity

Q1 2026

$20

467

$487

Selected Net Debt and Leverage Metrics

Term Loans A and B at OmniMax close $1300

Debt prepayment1 $(75)

USED CASH OF $43M

Q126 Sources

AP $ 47M

Q126 Uses

AR $ 56M

Inventory $ 20M

Other Assets $ 3M

▪ Other Liabilities $ 11M

Q126 CASH FLOW

OCF $(35)M

Net Debt at end of Period $1200

Net Debt / Adjusted EBITDA2 3.9x

FCF $(41)M

Q126 FCF ~(11)% Net Sales

Note: FCF = Free Cash Flow. Refer to appendix in the earnings news release for adjusted measures reconciliations.

Applied proceeds of eBOS sale to debt reduction

As defined by Credit Agreement, which adjusts for debt issuance costs and pro forma adjusted EBITDA inclusive of $35M of anticipated cost synergies. Excluding adjustments for debt issuance costs and $35M of anticipated cost synergies would be 4.2x

YEAR 1 YEAR 2 DELEVERAGING PLAN

+ Strong EBITDA Margin %

+ Additional Synergy Realization

+ Continued Working Capital Optimization

+ Cash Tax Benefits

Capex 2-3% of Sales

Interest Payments

= Free Cash Flow ~10% of Sales

= Expected Net Debt <$0.9B

+ Strong EBITDA Margin %

+ Synergy Realization

+ Working Capital Optimization

+ Cash Tax Benefits

Capex 2-3% of Sales

Interest Payments

Year 1 Acquisition and Integration Cash Costs

= Free Cash Flow ~8% of Sales

+ Proceeds from eBOS sale

OmniMax Purchase Price Above Debt Financing Amount

Financing Fees

= Expected Net Debt <$1.1B

Future Capital Allocation

M&A

Share repurchase

Focused on Deleveraging

Flexible debt structure facilitates debt paydown

History of deleveraging

~2.5x in 24

months

4.5

4.0

3.5

3.0

2.5

2.0

1.5

1.0

0.5

0.0

At Close YEAR 1 YEAR 2

Net Debt / Adjusted EBITDA (1)

(1) Net Debt / Adjusted EBITDA is based on management's forecast of EBITDA as well as Free Cash Flow that will be applied to debt repayment with the assumption that

BUSINESS DRIVERS

OmniMax*

Closed February 2nd - Eleven months of ownership in 2026

Omnimax plus synergies ~$570M adjusted net sales and ~$70m adjusted operating income,

$120m adjusted EBITDA

Synergies starting in Q2 and accelerating in Q3 / Q4

Residential - continued soft market in 1H, improving 2H

Agtech - Removed Arizona project from plan

Infrastructure - Engineering backlog and quoting / bid activity remains strong

FREE CASH FLOW

Expect FCF generation throughout the remainder of year

Working capital initiatives begin in Q2 accelerating in Q3 / Q4

Expect double digit operating cash flow (% of sales)

Capex 2-3% of sales

FCF ~8% of sales

Focused on debt paydown

OTHER ASSUMPTIONS

Depreciation, Amortization, and Stock Compensation Expense ~$90M

Acquisition, integration, restructuring, and one-time expenses ~$50M

Interest expense, financing and commitment fees >$70M

Tax rate ~26%

* See adjusted financial measures for definitions of adjusted measures

EITERATING 2026 GUIDANCE AND KEY ASSUMPTIONS

OmniMax +

2025

2026

Synergies

Adjusted Net Sales

$1.14B

$1.76 - $1.83B

~0.57B

Operating Income GAAP

$123M

$171 - $187M

Adjusted Adjusted EBITDA

$151M

$185M

$222 - $238M

$310 - $326M

~$70M

~$120M

Operating Margin GAAP

10.8%

~ 9.7% - 10.2%

Adjusted Adjusted EBITDA %

13.3%

16.3%

~ 12.6% - 13.0%

GAAP EPS

$3.25

$2.40 - $2.80

Adjusted EPS

$3.92

$3.65 - $4.05

FCF / Sales

~8%

~ 17.6% - 17.8%

Disclaimer

Gibraltar Industries Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2026 at 12:34 UTC.