PGT, Inc. (PGTI) Tops Q1 EPS by 1c; Offers Q2 Outlook

PGT, Inc. (NASDAQ: PGTI) reported Q1 EPS of $0.09, $0.01 better than the analyst estimate of $0.08. Revenue for the quarter came in at $100.2 million versus the consensus estimate of $99.17 million.

Second Quarter and Fiscal Year 2016 Outlook

While overall demand in construction maintained positive trends during the first quarter, construction activity was slowed by an unusually wet January in Florida. However, activity picked up at the end of the first quarter and continues in to the second quarter. After lower seasonal sales in the first quarter, rebounding sales are expected to result in higher quarterly EBITDA margins for the remainder of the year.

As a result, the Company expects that, for the second quarter, sales will range from $122 to $125 million and EBITDA margin will be 16.5 to 17.0 percent.

Given Florida’s strong economy, positive demographics, and net migration increases, we remain confident in our growth. For the full year, the Company continues to estimate sales ranging between $460 and $475 million, representing an increase of between 18 and 22 percent, and consolidated adjusted EBITDA of between $80 and $90 million.

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

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