ROCK · Gibraltar Industries, Inc.

Gibraltar Industries delivered first quarter 2026 results from continuing operations with net sales surging 44.6% to $356.3 million, primarily fueled by the OmniMax acquisition contributing $89 million and additional metal roofing acquisitions adding $18 million, though organic growth in residential was slightly down. Adjusted EBITDA grew 16.1% to $49.0 million, reflecting integration progress, but adjusted EPS fell 50% to $0.45 per share due to higher interest expense from the acquisition and unfavorable price-material economics amid sharp aluminum price increases and emerging steel, resin, and fuel inflation. GAAP net loss of $12.1 million stemmed from $32.6 million in pretax OmniMax-related costs. Management highlighted accelerated OmniMax integration via 22 planning teams achieving over 500 milestones in 90 days, raising the 2026 synergy target by $2 million to $26 million ($16 million in FY2026 adjusted EBITDA), with over 50% executed and savings ramping in Q2. Price actions across 14 residential brands in March and April are expected to yield positive economics in Q2. Segmentally, Residential net sales jumped 56.3% to $281.4 million but adjusted EBITDA margin contracted 700 bps to 11.0% on lower volumes, integration inefficiencies, and inflation timing. Agtech sales rose 23.6% to $55.6 million via Lane Supply, with solid $84 million backlog despite project timing shifts. Infrastructure sales dipped 9.9% to $19.2 million due to weather disruptions, but quoting remains strong. Balance sheet shows net debt at $1.2 billion after applying $70 million eBOS sale proceeds to repayment, with $467 million revolver availability and a policy to maintain $20-25 million minimum cash. The company reaffirmed full-year 2026 guidance, signaling confidence in Residential momentum (April shipments/bookings ahead of 2025), Agtech execution, and Infrastructure backlog conversion, amidst a dynamic residential market and controlled factors like synergies and pricing.