PGT, Inc. (PGTI) Misses Q3 EPS by 1c

PGT, Inc. (NASDAQ: PGTI) reported Q3 EPS of $0.16, $0.01 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $100.7 million versus the consensus estimate of $100.1 million.

“Quarterly sales exceeded $100 million for the second time this year, as we generated sales of $100.7 million in the third quarter. Sales increased $23.3 million, or 30.2%, over our 2014 third quarter, due to a combination of organic growth and from CGI-branded products. Our core repair and remodeling and new construction markets continue to be strong, as single-family housing starts in Florida increased 22% in the third quarter of 2015 compared to last year, and the repair and remodeling market continues to show positive growth. Through nine months, new construction and repair and remodeling sales of our PGT-branded products grew 24.4% and 6.3%, respectively. We anticipate this demand to continue into our fourth quarter which, combined with CGI’s fourth quarter sales, we estimate will result in consolidated sales of $88 million to $92 million. This represents a growth range of 4% to 9% over last year,” said PGT’s Chairman of the Board and Chief Executive Officer, Rod Hershberger.

For earnings history and earnings-related data on PGT, Inc. (PGTI) click here.

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