Business
Gibraltar Announces Fourth Quarter and 2021 Financial Results
2021 Revenue of $1.34B, GAAP EPS of $2.25, Adjusted EPS of $2.78 Q4 Revenue of $334.4M, Q4 GAAP EPS of $0.30; Adjusted EPS of $0.54 Order Backlog Increased
About this update from Gibraltar Industries, Inc.
[{"type":"text","content":"\n2021 Revenue of $1.34B, GAAP EPS of $2.25, Adjusted EPS of $2.78\n\nQ4 Revenue of $334.4M, Q4 GAAP EPS of $0.30; Adjusted EPS of $0.54\n\nOrder Backlog Increased 16%, Led by Renewables, with Strength Across the Board\n\n2022 Outlook: Revenue $1.38B-$1.43B, EPS: GAAP $2.80-$3.00, Adjusted $3.20-$3.40\n\n BUFFALO, N.Y.--(BUSINESS WIRE)--\nGibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, today reported its financial results for the three-month period ended December 31, 2021.\n\n“Fourth quarter results were within our previously-announced range, capping off a year of top-line growth as we increased our leadership positions in sustainable, high-demand markets, while grappling with increasing complexity in a challenging inflation and supply chain environment,” Chairman and CEO Bill Bosway stated. “Renewables’ results, as previously disclosed, were impacted by increased cost absorption from supply disruptions causing increased field costs and unanticipated levels of structural steel inflation. We delivered solid results in our Residential, Agtech, and Infrastructure segments, all of which expanded margins on achieving greater balance in price/cost and improving supply chain management and execution. We are proud of all of our teams and appreciate their focus and agility in confronting each obstacle as we progressed through 2021.”\n\nFourth Quarter 2021 Consolidated Results from Continuing Operations\n\nBelow are fourth quarter 2021 consolidated results from continuing operations:\n\n\n\n \n\n\n \n\nThree Months Ended December 31,\n\n\n\n\n\n$Millions, except EPS\n\n\n\n \n\n\n\nGAAP\n\n\n \n\n \n\n\n\nAdjusted\n\n\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n% Change\n\n\n \n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nNet Sales\n\n\n\n \n\n\n\n$334.4\n\n\n\n \n\n\n\n$265.2\n\n\n\n \n\n\n\n26.1%\n\n\n \n\n \n\n\n\n$334.4\n\n\n\n \n\n\n\n$265.2\n\n\n\n \n\n\n\n26.1%\n\n\n\n\n\nNet Income\n\n\n\n \n\n\n\n$9.8\n\n\n\n \n\n\n\n$17.6\n\n\n\n \n\n\n\n-44.3%\n\n\n \n\n \n\n\n\n$18.0\n\n\n\n \n\n\n\n$19.5\n\n\n\n \n\n\n\n-7.7%\n\n\n\n\n\nDiluted EPS\n\n\n\n \n\n\n\n$0.30\n\n\n\n \n\n\n\n$0.53\n\n\n\n \n\n\n\n-43.4%\n\n\n \n\n \n\n\n\n$0.54\n\n\n\n \n\n\n\n$0.59\n\n\...