Gibraltar Industries, Inc.: Initiation Of Coverage – Are Its Investment in Digital Transformation, Agtech & Infrastructure Bearing Fruit?

Gibraltar Industries’ Q4 2023 financial results presented a robust year-end performance. The company’s leadership positions were expanded, the quality of earnings improved, and strong cash flows were generated. Both Residential and Infrastructure perform strongly, and although the Renewable segment faced industry headwinds, it demonstrated excellent margin expansion. The adjusted operating income grew 16%, along with a 15% growth in adjusted EBITDA and a 21% growth in adjusted EPS. The company closed the year with a backlog that was up 10%, indicating momentum in net sales growth.