William Bosway on solar market
From Gibraltar Industries (NASDAQ: ROCK) - CEO & CFO - Gabelli PVW Symposium · · GabelliTV
“Despite political concerns, the solar market remains strong with significant investments and long project timelines of three to seven years, meaning current projects will continue regardless of short-term policy changes.”
On , William Bosway, Chairman of the Board, President & Chief Executive Officer at GIBRALTAR INDUSTRIES INC, spoke about solar market during Gibraltar Industries (NASDAQ: ROCK) - CEO & CFO - Gabelli PVW Symposium on GabelliTV.
About William Bosway
At the Gabelli PVW Symposium on March 17, 2025, Bosway stated that Gibraltar Industries' residential segment, its largest, focuses approximately 85% on repair work rather than remodeling. He described a strategic shift since 2019, moving from 70% big-box retail business to a current mix of 70% wholesale serving contractors. Bosway said growth in the residential business is driven by participation gains in the top 40 metropolitan statistical areas, emphasizing local presence and tailored products to manage transportation costs. He noted the company has $270 million in net cash and said capital allocation priorities center on mergers and acquisitions, particularly in residential and agtech segments, with deal sizes ranging from $10 million to $100 million. Regarding renewable energy, Bosway stated that the solar industry has faced regulatory and supply chain challenges but that recent conclusions of Department of Commerce investigations are providing stability. He said the company believes the renewable energy market is solid and expects no major changes in 2025 despite political rhetoric, adding that modifications to incentives like the IRA would take time. Bosway also noted that the agtech business is growing with new orders and acquisitions, and that the solar canopy business, exemplified by a project at the Cincinnati Zoo, leverages the company's structural engineering expertise into markets with mid-single-digit growth.