Gibraltar Industries (ROCK) FY2024 results: revenue $1.0 billion, down 2.3% on the year

Gibraltar Industries, Inc. (ROCK) reported revenue of $1.0 billion for fiscal 2024, the year ended 31 December 2024, down 2.3% on the year before. Net income was $137 million, up 24.3%, and diluted earnings per share $4.46. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2025.

Revenue

$1.0 billion

-2.3% on the year

FY2017FY2024

Operating margin

13.6%

11.5% a year earlier

FY2017FY2024

Net income

$137 million

+24.3% on the year

FY2017FY2024

Diluted EPS

$4.46

+24.2% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,023	1,047	1,390	-2.3%
Cost of revenue	722	765	1,071	-5.6%
Gross profit	301	282	319	+6.9%
Gross margin	29.5%	26.9%	22.9%
Selling, general and administrative	156	158	189	-1.5%
Operating income	140	121	130	+15.8%
Operating margin	13.6%	11.5%	9.4%
Pre-tax income	171	124	111	+38.3%
Income tax	35.9	32.2	29.1	+11.5%
Effective tax rate	21.0%	26.1%	26.1%
Net income	137	111	82.4	+24.3%
Net margin	13.4%	10.6%	5.9%
Diluted EPS	$4.46	$3.59	$2.56	+24.2%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	174	218	103	-20.2%
Capital expenditure	17.4	13.9	20.1	+25.1%
Free cash flow	157	205	82.6	-23.3%
Free cash flow margin	15.3%	19.5%	5.9%
Cash from investing	8.5	-15.7	-71.7
Cash from financing	-12.2	-120	-25.0
Depreciation and amortisation	19.1	18.7	26.2	+2.2%
Share-based compensation	10.0	8.9	8.3	+13.3%
Buybacks	12.2	29.3	89.5	-58.4%
Diluted shares, weighted	31m	31m	32m	-0.1%
Shares outstanding at period end	34m	34m	34m	+0.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,048	915	822	+14.5%
Debt	0.0	0.0	88.8
Operating lease liabilities	33.4	36.0	19.0	-7.2%
Other liabilities	338	305	281	+10.6%
Total liabilities and equity	1,419	1,256	1,211	+13.0%
Fixed assets	87.1	108	110	-19.1%
Goodwill	323	329	512	-1.8%
Intangible assets	26.1	126	138	-79.3%
Cash and equivalents	269	99.4	17.6	+171.0%
Receivables	115	173	217	-33.5%
Inventory	93.3	121	170	-22.6%
Other assets	505	301	46.0	+67.9%
Total assets	1,419	1,256	1,211	+13.0%

10-K for the year ended 31 December 2024, filed 19 February 2025: the filing.