GIBRALTAR INDUSTRIES, INC.ROCK
GIBRALTAR INDUSTRIES, INC. Segments Disclosure
SEGMENT INFORMATION
The Company has three reportable segments: Residential, Agtech and Infrastructure. The Company's reportable segments are each managed separately because they design, engineer, manufacture, and where applicable install, distinct products with different production processes.
•Residential consists of operating segments that sell the following products and services to major retail home centers, building material wholesalers, building product distributors, roofing distributors, residential contractors, property management companies, manufactured housing dealers, postal services distributors and providers, and online direct to end consumers: roof and foundation ventilation products, single point and centralized mail systems and package solutions, outdoor living space products (sun-shading), rain dispersion systems, metal roofing job site services, and other construction accessories.
•Agtech consists of operating segments that sell the following products and services to large-scale indoor commercial growers, agricultural research, development facilities, as well as convenience store, travel centers, food retailers, and quick-serve restaurants: design, manufacture and build controlled environment agriculture structures, custom greenhouses and structural canopies.
•Infrastructure consists of an operating segment that sells the following products to commercial and transportation contractors and fabricators: expansion joints, structural bearings, rubber pre-formed seals and other sealants, elastomeric concrete, and bridge cable protection systems.
When determining the Company's Residential and Agtech reportable segments, the Company aggregated operating segments to be one reportable segment as the aggregation is consistent with the objectives and principles of Topic 280, Segment Reporting, and on the basis that the operating segments have similar economic and operating characteristics.
The accounting policies of the Company's segments are the same as those described in Note 1 "Summary of Significant Accounting Policies." The Company evaluates performance of all its reportable segments on income or loss from operations before interest and income taxes. The following tables illustrate certain measurements used by management to assess the performance of the segments described above for the years ended December 31 (in thousands):
| 2025 | |||||||||||||||||||||||
| Residential | Agtech | Infrastructure | Total | ||||||||||||||||||||
| Net sales | $ | 824,079 | $ | 219,301 | $ | 92,121 | $ | 1,135,501 | |||||||||||||||
| Less (1): | |||||||||||||||||||||||
| Operating expenses (2) | 686,884 | 209,497 | 70,079 | 966,460 | |||||||||||||||||||
| Segment profit | 137,195 | 9,804 | 22,042 | 169,041 | |||||||||||||||||||
| Reconciliation of segment profit: | |||||||||||||||||||||||
| Unallocated corporate expenses | (46,290) | ||||||||||||||||||||||
| Interest income, net | 1,747 | ||||||||||||||||||||||
| Other income, net | 2,078 | ||||||||||||||||||||||
| Income before taxes from continuing operations | $ | 126,576 | |||||||||||||||||||||
| 2024 | |||||||||||||||||||||||
| Residential | Agtech | Infrastructure | Total | ||||||||||||||||||||
| Net sales | $ | 782,519 | $ | 152,811 | $ | 88,029 | $ | 1,023,359 | |||||||||||||||
| Less (1): | |||||||||||||||||||||||
| Operating expenses (2) | 633,735 | 141,771 | 66,734 | 842,240 | |||||||||||||||||||
| Segment profit | 148,784 | 11,040 | 21,295 | 181,119 | |||||||||||||||||||
| Reconciliation of segment profit: | |||||||||||||||||||||||
| Unallocated corporate expenses | (41,445) | ||||||||||||||||||||||
| Interest income, net | 6,171 | ||||||||||||||||||||||
| Other income, net | 25,142 | ||||||||||||||||||||||
| Income before taxes from continuing operations | $ | 170,987 | |||||||||||||||||||||
| 2023 | |||||||||||||||||||||||
| Residential | Agtech | Infrastructure | Total | ||||||||||||||||||||
| Net sales | $ | 814,803 | $ | 144,967 | $ | 87,228 | $ | 1,046,998 | |||||||||||||||
| Less (1): | |||||||||||||||||||||||
| Operating expenses (2) | 671,735 | 145,895 | 68,699 | 886,329 | |||||||||||||||||||
| Segment profit (loss) | 143,068 | (928) | 18,529 | 160,669 | |||||||||||||||||||
| Reconciliation of segment profit: | |||||||||||||||||||||||
| Unallocated corporate expenses | (40,100) | ||||||||||||||||||||||
| Interest expense, net | (1,958) | ||||||||||||||||||||||
| Other income, net | 5,029 | ||||||||||||||||||||||
| Income before taxes from continuing operations | $ | 123,640 | |||||||||||||||||||||
Footnotes:
(1)The significant expense category and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Operating expenses for each reportable segment includes inventory and manufacturing expenses, employee compensation, depreciation and amortization, freight services, other costs of sales expenses, and other selling, general and administrative expenses. Additionally, operating expenses include intangible asset impairment recognized in the Agtech reportable segment during the respective years ended December 31, 2024 and 2023. There was no intangible asset impairment recognized during the year ended December 31, 2025.
The Company’s CODM consisted of the Company’s chief executive officer during the years ended December 31, 2025, 2024 and 2023. For the Company’s reportable segments, the CODM uses segment income (loss) from operations before interest and income taxes to assess segment performance and allocate resources (including employees, property, and capital resources) for each segment mainly in the annual budget and forecasting process. The CODM considers forecast-to-actual variances on a monthly basis using the income (loss) from operation before interest and taxes for each segment when making decisions about allocating capital and personnel to the segments. The CODM also uses income (loss) from operations before interest and income taxes, along with net sales, to assess the performance for each segment by comparing the results of each segment with one another and in the compensation of certain employees.
The assets by reported segment were as follows at December 31 (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
| Residential | $ | 639,397 | $ | 497,317 | $ | 515,739 | |||||||||||
| Agtech | 290,785 | 156,941 | 168,213 | ||||||||||||||
| Infrastructure | 78,266 | 78,366 | 77,518 | ||||||||||||||
| Total segment assets | $ | 1,008,448 | $ | 732,624 | $ | 761,470 | |||||||||||
The following table is the reconciliation of total segment assets to consolidated total assets at December 31 (in thousands):
| 2025 | 2024 | ||||||||||
| Total segment assets | $ | 1,008,448 | $ | 732,624 | |||||||
| Reconciliation to consolidated total assets: | |||||||||||
| Unallocated corporate assets | 192,793 | 295,350 | |||||||||
| Assets of discontinued operations | 192,362 | 391,436 | |||||||||
| Total assets | $ | 1,393,603 | $ | 1,419,410 | |||||||
The following tables present the reported segments’ and unallocated corporate depreciation and amortization, and capital expenditures for the years ended December 31 (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
| Depreciation and Amortization | |||||||||||||||||
| Residential | $ | 13,351 | $ | 10,416 | $ | 10,080 | |||||||||||
| Agtech | 10,368 | 3,165 | 3,789 | ||||||||||||||
| Infrastructure | 2,845 | 2,972 | 3,137 | ||||||||||||||
| Unallocated corporate expenses | 3,285 | 2,567 | 1,701 | ||||||||||||||
| Total depreciation and amortization | $ | 29,849 | $ | 19,120 | $ | 18,707 | |||||||||||
| Capital expenditures | |||||||||||||||||
| Residential | $ | 16,500 | $ | 10,508 | $ | 6,913 | |||||||||||
| Agtech | 24,374 | 684 | 1,419 | ||||||||||||||
| Infrastructure | 1,243 | 1,152 | 1,313 | ||||||||||||||
| Unallocated corporate expenditures | 4,296 | 5,030 | 4,239 | ||||||||||||||
| Total capital expenditures | $ | 46,413 | $ | 17,374 | $ | 13,884 | |||||||||||
The following presents disaggregated revenue by timing of transfer of control to customers by reported segment for the years ended December 31 (in thousands):
| 2025 | |||||||||||||||||||||||
| Residential | Agtech | Infrastructure | Total | ||||||||||||||||||||
| Point in Time | $ | 824,079 | $ | 1,392 | $ | 42,226 | $ | 867,697 | |||||||||||||||
| Over Time | — | 217,909 | 49,895 | 267,804 | |||||||||||||||||||
| Total net sales | $ | 824,079 | $ | 219,301 | $ | 92,121 | $ | 1,135,501 | |||||||||||||||
| 2024 | |||||||||||||||||||||||
| Residential | Agtech | Infrastructure | Total | ||||||||||||||||||||
| Point in Time | $ | 775,541 | $ | 2,862 | $ | 34,393 | $ | 812,796 | |||||||||||||||
| Over Time | 6,978 | 149,949 | 53,636 | 210,563 | |||||||||||||||||||
| Total net sales | $ | 782,519 | $ | 152,811 | $ | 88,029 | $ | 1,023,359 | |||||||||||||||
| 2023 | |||||||||||||||||||||||
| Residential | Agtech | Infrastructure | Total | ||||||||||||||||||||
| Point in Time | $ | 808,225 | $ | 4,920 | $ | 31,547 | $ | 844,692 | |||||||||||||||
| Over Time | 6,578 | 140,047 | 55,681 | 202,306 | |||||||||||||||||||
| Total net sales | $ | 814,803 | $ | 144,967 | $ | 87,228 | $ | 1,046,998 | |||||||||||||||
Net sales by region or origin and long-lived assets by region of domicile were as follows for the years ended and as of December 31 (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
| Net sales | |||||||||||||||||
| U.S. | $ | 1,091,372 | $ | 968,927 | $ | 1,022,972 | |||||||||||
| Canada | 44,129 | 54,432 | 24,026 | ||||||||||||||
| Total net sales | $ | 1,135,501 | $ | 1,023,359 | $ | 1,046,998 | |||||||||||
| Long-lived assets | |||||||||||||||||
| U.S. | $ | 176,071 | $ | 126,288 | $ | 132,682 | |||||||||||
| Canada | 9,740 | 2,349 | 2,632 | ||||||||||||||
| Total long-lived assets | $ | 185,811 | $ | 128,637 | $ | 135,314 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 23, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 21, 2017 | |
| 2015 | Feb 18, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.