NCI Building Systems (NCS) Tops Q3 EPS by 1c, Revenue Beats; Management Comments on Outlook
NCI Building Systems (NYSE: NCS) reported Q3 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $361.6 million versus the consensus estimate of $352.68 million.
Summary/Outlook"Our third quarter performance was largely on track with our internal expectations and demonstrates that our investments in growth initiatives and commercial discipline are beginning to pay dividends, as reflected in higher third party sales and improving margins. Increasing volumes have allowed us to leverage the improved operational efficiencies created by the recent realignment of manufacturing operations across our business units."
"We are pleased with the steady improvement in our operating performance, and the leading indicators that signal growth in our end markets while realizing nonresidential end markets are still below historic cyclical trough volumes. The level of inquiries remains solid and our backlog continues to reflect a broadening recovery. We maintain our expectation that growth in new low rise nonresidential starts in fiscal 2014 will be in the mid-single digits, and I believe we will continue to build momentum that will take us into 2015," Mr. Chambers concluded.
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