Ply Gem Holdings (PGEM) Tops Q1 EPS by 4c, Offers Outlook
Ply Gem Holdings (NYSE: PGEM) reported Q1 EPS of ($0.20), $0.04 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $408.6 million versus the consensus estimate of $398.16 million.
“As we enter into the seasonally important second and third quarters, we look forward to capitalizing on the momentum we’ve built during the beginning of 2016,” said Mr. Robinette. “As the housing market in the U.S. continues to recover, we are well positioned to drive profitable growth and generate meaningful operating leverage and earnings. In addition, we remain committed to driving shareholder value and continuing to improve our balance sheet. In looking forward to the second quarter of 2016, and considering the pull forward experienced during the first quarter, we expect our quarterly adjusted EBITDA to be in the range of $72 to $77 million. At the mid-point of this range, this would result in a 20% year-over-year improvement of adjusted EBITDA."
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