PGT, Inc. (PGTI) Tops Q4 EPS by 6c, Beats on Revenues; Offers FY18 EPS/Revenue Outlook Above Consensus

PGT, Inc. (NASDAQ: PGTI) reported Q4 EPS of $0.18, $0.06 better than the analyst estimate of $0.12. Revenue for the quarter came in at $134.1 million versus the consensus estimate of $118.32 million.

Fiscal Year 2018 Outlook

The Company is providing the guidance listed below for its 2018 fiscal year. Management will discuss assumptions underlying this guidance during its upcoming earnings call. For its 2018 fiscal year, the Company currently expects to achieve the following. All comparisons are to fiscal year 2017:

• Net sales of $550 million to $575 million, increasing 8 percent to 13 percent;
• Adjusted EBITDA of $95 million to $105 million, increasing 10 percent to 22 percent;
• Net income per diluted share of $0.81 to $0.98; and
• Free cash flow of $59 million to $67 million

Beginning in 2018, the Company is updating its reporting of adjusted EBITDA to exclude non-cash stock-based compensation expense. In the above outlook comparison, adjusted EBITDA for 2017 has been adjusted to reflect this change. Comparisons to prior periods in future earnings releases will also be adjusted to reflect this change.

Financial Highlights for Fourth Quarter 2017 versus Fourth Quarter 2016

• Net sales of $134.1 million, an increase of $24.6 million, or 22 percent
• Gross margin of 32.0 percent, compared to 28.8 percent
• Net income of $20.3 million, compared to $4.1 million
• Adjusted net income of $9.4 million, compared to $5.0 million
• Net income per diluted share of $0.39, compared to $0.08
• Adjusted net income per diluted share of $0.18, compared to $0.10

GUIDANCE:

PGT, Inc. sees FY2018 EPS of $0.81-$0.98, versus the consensus of $0.72. PGT, Inc. sees FY2018 revenue of $550-575 million, versus the consensus of $543.42 million.

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

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