GIBRALTAR INDUSTRIES, INC. Q1 FY2026 earnings call

• Three core initiatives: streamline supply base, develop digital solutions, optimize codes and specs. Made progress in expanding geographic presence, cross-selling, and private label programs. • Integration: Combined business evolved from organization transition to integration discipline, delivered 500+ milestones, completed phase one of organization structural work, integrated corporate supply chain team, and combined 2026 financial plan. • 2026 Synergy savings: Raised commitment to $26 million, with 16.3 million realized, and identified additional costs. • Commercial team coming together with strong leadership for execution.

AgTech net sales grew about 10 million or 23.6% driven by the lane supply acquisition, offsetting organic volume decreasing approximately 3% in the quarter. Adjusted operating and EBITDA margin decreased. Infrastructure net sales decreased 2.1 million, or 10%, due to two separate weather events in March impacting production schedules. Backlog decreased 3%, and segment adjusted operating EBITDA margins declined.

• Continuing operations: Expect consolidated net sales between $1.76 billion and $1.83 billion, adjusted operating income between $222 million and $238 million, adjusted EBITDA between $310 million and $326 million, Gap EPS between $2.40 and $2.80, and adjusted EPS between 365 and 405. • Deleveraging roadmap: Priority to deleverage over two years through EBITDA delivery, synergy realization, working capital optimization, etc., targeting leverage ratio of approximately two and a half times adjusted EBITDA in 24 months ended first quarter of 2028.

• Weather events affecting infrastructure production schedules. • Uncertainty related to Middle East conflict impacting consumer sentiment and mortgage rates. • Dependence on timely renewal of contracts for cost savings in supply chain.

Q: About inventory levels and monthly volume growth.

A: Inventory better aligned with demand; distribution may see more demand materialize sooner; April and May have had good demand start.

Q: On cost and margin, OmniMax's pricing.

A: OmniMax has centralized pricing discipline, helping Gibraltar accelerate price actions; first quarter dealt with inflation, pricing in place for Q2.

Q: On integration cost and 80-20 initiative.

A: Supply chain team working on savings, 80-20 initiative includes product line simplification and logistics harmonization.

Q: On residential distribution vs retail uplift.

A: More uplift in distribution, closer to contractors; branches see real-time demand differently.

Q: On infrastructure weather impact.

A: Two weather events caused production delays, shipments pushed to April, but back on track.

Q: On synergy realization timing.

A: Synergies start flowing in Q2 and accelerate in Q3 and Q4, with 16.3 million realized in 2026 adjusted EBITDA