PGT, Inc. (PGTI) Tops Q1 EPS by 5c, Beats on Revenues; Offers FY18 EPS/Revenue Outlook

PGT, Inc. (NASDAQ: PGTI) reported Q1 EPS of $0.19, $0.05 better than the analyst estimate of $0.14. Revenue for the quarter came in at $140.3 million versus the consensus estimate of $129.63 million.

Financial Highlights for First Quarter 2018 versus First Quarter 2017

• Net sales of $140.3 million, an increase of $27.5 million, or 24 percent
• Gross margin of 31.9 percent, compared to 28.2 percent
• Net income of $7.3 million, compared to $3.0 million
• Adjusted net income of $9.9 million, compared to $3.8 million
• Net income per diluted share of $0.14, compared to $0.06
• Adjusted net income per diluted share of $0.19, compared to $0.07

Fiscal Year 2018 Outlook

The Company remains confident in its core market of Florida and expects to finish its 2018 fiscal year at the higher end of the ranges that was previously provided as guidance for its 2018 fiscal year, which are listed below. 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

GUIDANCE:

PGT, Inc. sees FY2018 EPS of $0.81-$0.98, versus the consensus of $0.86. PGT, Inc. sees FY2018 revenue of $550-575 million, versus the consensus of $563.16 million.

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

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