Gibraltar Industries, Inc. · NASDAQ:ROCK
Gibraltar Industries — Q3 2012 Earnings Presentation
12 slides from Gibraltar Industries's earnings presentation, Nov 1, 2012
Slide 1: Third Quarter 2012 Earnings Call Presentation
Third Quarter 2012 Earnings Call Presentation November 1, 2012 The data in this package should be read in conjunction with the Gibraltar earnings release.
Slide 2: Forward Looking Statements
2 FORWARD LOOKING STATEMENTS Certain information set forth in this presentation, other than historical statements, contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are based, in whole or in part, on current expectations, estimates,
Slide 3: Q3 Overview
Q3 Overview 3 • Market conditions in residential & industrial similar to Q2 • Slower U.S. roofing activity, weather and European economy led to soft revenues • Stronger demand in multifamily and public infrastructure markets • Operational efficiencies, cost controls and lower West Coast consolidatio
Slide 4: Q3 Revenue Mix
Q3 Revenue Mix 4 • Multi-family and infrastructure strong in Q3 • Signs of improvement in residential new construction • Growth in non-residential new construction has moderated temporarily • Residential repair & replacement unchanged • Consumer confidence improving but not enough to start more expe
Slide 5: Operational Performance
Operational Performance 5 • Improving operating efficiency across the company • West Coast integration • Combining four separate businesses • Focusing on optimizing configuration of remaining facilities • Achieved sequential improvement in GM at West Coast Operations • Expect to achieve GM run-rate
Slide 6: Q3 Sequential Performance
Q3 Sequential Performance 6 3Q12 2Q12 $205.5 $219.7 Revenues Revenues • Slower U.S. roofing activity, weather and recession-driven (6)% weaknesses. • Residential demand rose in multi-family and public infrastructure markets. Adjusted Operating $17.5 Income* $16.2 Operating Income • Lost contribu
Slide 7: YOY Performance
YOY Performance 7 YTD YTD 3Q12 3Q11 3Q12 3Q11 Revenues Revenues $205.5 $220.1 $617.4 $592.5 • Q3: multi-family & public infrastructure demand up, offset by slower R&R and industrial. • YTD: growth led by acquisitions with exposure to (7)% +4% public infrastructure & multi-family residential market
Slide 8: Net Income / EPS
Net Income / EPS 8 YTD YTD 3Q12 3Q11 Var 3Q12 3Q11 Var Adjusted operating income * $ 16.2 $ 19.0 $ (2.8) $ 42.7 $ 49.3 $ (6.6) Net interest expense (4.7) (4.9) 0.2 (14.0) (14.3) 0.3 Other non-operating income 0.1 - 0.1 0.4 - 0.4 Adjusted income tax expense* (4.2) (6.3) 2.1 (10.4) (14.6) 4.2 Adjusted
Slide 9: Cash Flow
Cash Flow 9 YTD Q3 YTD Q3 2012 2011 Net income from continuing operations $ 16.4 $ 16.1 Depreciation and amortization 19.8 19.5 Compensation expense of stock-based plans 2.7 3.9 Non-cash charges to interest expense 1.2 1.7 Working capital & other balance sheet accounts (16.9) (11.4) Other 3.4 1.4 Di
Slide 10: Continued Low Net Debt
Continued Low Net Debt 10 Sept '12 June '12 Dec '11 Dec '10 Short-Term Debt $ 0.4 $ 0.4 $ 0.4 $ 0.4 Long-Term Debt 206.6 206.5 206.8 206.8 Total Debt 207.0 206.9 207.2 207.2 Cash & Cash Equivalents 71.1 44.1 54.1 60.9 Net Debt $ 135.9 $ 162.8 $ 153.1 $ 146.3 Total Debt / Capitalization 30% 31% 31% 3
Slide 11: Summary
Summary 11 • Positioned for greater profitability when markets experience meaningful recovery • Acquired product lines to penetrate new markets and channels • Well positioned to deliver stronger profitability with West Coast integration nearly complete • Strong balance sheet provides opportunity for
Slide 12: Q&A
Q&A T= _—S GIBRALTAR INDUSTRIES