NCI Building Systems (NCS) Tops Q2 EPS by 7c, Revenues Beat; Offers 3Q Revenue Outlook Above Consensus

NCI Building Systems (NYSE: NCS) reported Q2 EPS of $0.25, $0.07 better than the analyst estimate of $0.18. Revenue for the quarter came in at $457.1 million versus the consensus estimate of $437.91 million.

Second Quarter 2018 Financial and Operational Highlights:

• Sales rose 8.7% to $457.1 million for the quarter, compared to $420.5 million in the prior year's second quarter
• Gross profit was $104.1 million or 22.8% of sales, compared to $100.8 million or 24.0% of sales in the second quarter of 2017
• The Company improved and replaced its debt structure, reducing its current effective cash interest rate from approximately 7.0% to 3.6% and extending the term to 2025
• Net income was a loss of $5.7 million for the quarter, compared to net income of $17.0 million in the prior year\'s second quarter. Adjusted Net Income was $16.4 million this quarter, compared to $11.5 million in the prior year\'s second quarter
• Net income per diluted common share for the quarter was a loss of $0.09, compared to income of $0.24 in the second quarter of fiscal 2017. There were several previously announced special items, which while positive for future operations including the debt refinancing and the sale of CENTRIA's China operations, resulted in charges during the quarter. Adjusted Net Income was $0.25 per diluted common share, an increase of 56.3%, compared to $0.16 in the prior year's second quarter

Guidance

Looking ahead, NCI\'s key economic indicators are tracking to expectation and year-over-year growth in both bookings and backlog support the Company\'s favorable outlook for fiscal 2018. For the third quarter of fiscal 2018, NCI expects revenues to be in the range of $525 to $545 million and Adjusted EBITDA to be in the range of $56 to $66 million.

GUIDANCE:

NCI Building Systems sees Q3 2018 revenue of $525-545 million, versus the consensus of $503.7 million.

For earnings history and earnings-related data on NCI Building Systems (NCS) click here.

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