NCI Building Systems (NCS) Tops Q3 EPS by 1c, Revenue Light, Comments on Outlook

September 2, 2015 4:16 PM

NCI Building Systems (NYSE: NCS) reported Q3 EPS of $0.15, $0.01 better than the analyst estimate of $0.14. Revenue for the quarter came in at $420.8 million versus the consensus estimate of $442.32 million.

Outlook and Guidance

Mr. Chambers remarked, "Over the past five quarters, we have outperformed the low-rise construction markets and delivered year-over-year improvements in both gross profit margin and Adjusted EBITDA. In fact, our underlying businesses have driven margin expansion and significant earnings growth in a lackluster low-rise construction market. Our third quarter trailing 12-month performance has delivered a 21% increase in gross profit and a 58% increase in Adjusted EBITDA on 8.6% revenue growth. Regardless of market conditions, we remain intently focused on our goals to outperform the nonresidential market in terms of growth and increased profitability.

"We expect the investments we've made in insulated metal panels over the past few years, including the recent acquisition of CENTRIA, will help us unlock the growth potential of the underpenetrated North American market. We enter the last quarter of our fiscal year with a steady backlog that benefitted from solid bookings growth and by the increase in higher-complexity projects, which gives us greater visibility into the first half of 2016. We currently anticipate delivering the sixth consecutive quarter of year-over-year improvement in gross profit margin and Adjusted EBITDA in the fourth fiscal quarter. Similar to the prior year, we expect our fourth quarter to show sequential improvement over the third quarter in both revenue and Adjusted EBITDA."

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Earnings Guidance Management Comments

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