Gibraltar Industries, Inc. completed the divestiture of its residential electronic locker business on December 17, 2024. This strategic move was part of the company's ongoing portfolio management to optimize its business segments and focus on core operations.
The electronic locker business contributed to Gibraltar's financials prior to its sale. For the full year 2024, the business generated sales of $10.379 million and resulted in an operating loss of $740 thousand, as detailed in recast financial summaries.
Following the divestiture, Gibraltar's 2024 adjusted net sales were recast to $1,298,385 million, adjusted operating income to $167,279 million, and adjusted EPS to $4.23. This adjustment reflects the company's refined operational footprint and strategic direction.
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