How did ROCK's revenue and expenses trends shift in Q4 2024?

**Gibraltar Industries (ROCK) experienced a decline in consolidated net sales and gross profit in Q4 2024, while showing growth in specific segments and maintaining operational cash flow.** Here's a detailed analysis: 1. **Overall Revenue Trend**: - The company's consolidated net sales for Q4 2024 were $361.2 million, reflecting a decrease of 7.6% compared to $390.7 million in the same period of 2023. - This decline was observed across segments, including Renewables and Residential, which saw decreases of 17.2% and 6.7%, respectively. 2. **Segmental Performance**: - The Renewables segment faced significant headwinds due to trade and regulatory dynamics, leading to a substantial decrease in sales. - The Residential segment also experienced a slowdown, primarily due to a soft market for both repair and new construction. - In contrast, the Agtech segment demonstrated robust growth, with a 34% increase in sales, driven by accelerated projects in the produce segment. - The Infrastructure segment showed resilience, with an increase in backlog and improved operating and EBITDA margins. 3. **Expense and Profitability Trends**: - Gross profit for Q4 2024 was $93.5 million, representing 25.9% of net sales, compared to $105.4 million (27.0%) in the same period of 2023. - Income from operations was $44.0 million, accounting for 12.2% of net sales, down from $53.2 million (13.6%) in Q4 2023. - Net income for the quarter was $34.0 million, reflecting a 9.4% return on sales, compared to $39.3 million (10.1%) in the previous year's same quarter. 4. **Cash Flow and Financial Health**: - Gibraltar Industries maintained a strong balance sheet with $229 million in cash and $395 million available on its revolver, remaining debt-free. - The company generated $65 million in operating cash flow and $59 million in free cash flow during the quarter. In conclusion, Gibraltar Industries faced challenges in Q4 2024, particularly in the Renewables and Residential segments, which negatively impacted overall revenue and profitability. However, the Agtech segment's growth and Infrastructure segment's resilience, along with strong cash flow and a solid balance sheet, indicated the company's ability to navigate through these challenges.