Gibraltar Industries (ROCK) Q4 2025 earnings summary

Executive summary

• Fourth quarter 2025 net sales rose 16%-17% year-over-year to $268.7M-$269M, with full-year adjusted net sales up 12% to $1.14B, driven by metal roofing and acquisitions, offset by a soft residential market and inventory right-sizing.

• Adjusted operating income for 2025 was $151M (13.3% margin), adjusted EBITDA $185M (16.3% margin), and adjusted EPS $3.92, up 3% year-over-year; Q4 adjusted EPS was $0.76, down 15%.

• The OmniMax International acquisition closed in February 2026, making residential over 80% of the business and accelerating the building products strategy by two years.

• The renewables eBOS business was sold for $70 million, and the remaining renewables business is classified as discontinued operations with a sale expected in early Q2 2026.

• GAAP net income for Q4 2025 dropped 75% due to a prior-year gain on a business sale and acquisition costs.

Financial highlights

• Q4 2025 adjusted operating margin was 10.8%-13.3% and EBITDA margin 13.6%, with adjusted EPS of $0.76.

• Full-year 2025 adjusted net sales grew 12% to $1.14B, with operating and EBITDA margins of 13.3% and 16.3%, and adjusted EPS of $3.92.

• Operating cash flow for 2025 was $137M, ending with $116M in cash and free cash flow at 8% of sales.

• Q4 free cash flow was $22.8M (8.5% of adjusted net sales); full-year free cash flow was $90.98M (8.0% of adjusted net sales).

• Ended 2025 with $116M in cash and $394M-$665M available on the revolver.

Outlook and guidance

• 2026 consolidated net sales expected between $1.76B and $1.83B, up from $1.14B in 2025, with 57% growth at midpoint and 5% organic growth.

• Adjusted operating margin guidance is 12.6%-13%, and adjusted EBITDA margin 17.6%-17.8%, up 140 bps year-over-year.

• Adjusted EPS guidance for 2026 is $3.65-$4.05, compared to $3.92 in 2025; GAAP EPS expected at $2.40-$2.80 due to special charges.

• Free cash flow guidance is approximately 8% of sales for 2026.

• Q1 2026 will be the lowest earnings quarter due to post-acquisition debt and charges, with less than 20% of adjusted EPS expected in Q1.