PGT Innovations, Inc. PGTI unveiled its latest 1,920 square foot multi-brand showroom in its own manufacturing facility located at 3780 W. 104th St. in Hialeah, FL.
The showroom showcases more than 20 products from its window and door brands, including CGI, CGI Commercial, PGT Custom Windows and Doors, WinDoor, along with Western Window Systems. The company believes that this visual representation of products will help dealers and homeowners to envision transformation of their own projects or homes.
PGT Innovations, the nation’s leading impact-resistant windows and doors manufacturer and supplier, banks on innovation and expansion to drive growth. The company is dedicated toward designing and engineering new and innovative products that transform the way people live, thereby helping the company to generating higher revenues.
In a bid to enhance its presence and innovation, the company acquired Western Windows Systems or WWS in early 2018. The WWS buyout allowed it to boost overall performance, and achieve geographic and product diversity.
In first-quarter 2019, the company’s net sales increased 24% year over year. Notably, its gross and adjusted EBITDA margins grew 340 basis points (bps) and 80 bps, respectively. The improvement was mainly driven by 18.5% contribution from the WWS acquisition, and price increases and operating efficiencies.
Markedly, during the said quarter, the company launched the Western 3700 series vinyl door, as part of innovation.
Coming to price performance, shares of PGT Innovations have declined 0.2% against its industry’s 25.3% growth on a year-to-date basis. The company has been witnessing softness in the repair and remodeling market over the last few quarters. Also, it is experiencing lower demand in a few markets served.
Nonetheless, the company remains confident to deliver improved results going forward, backed by improving overall construction market and the WWS acquisition. PGT Innovations expects to generate net sales growth of 11-15% year over year in 2019. Also, it projects adjusted EBITDA in the range of 13-20% and earnings within 93 cents to $1.05 per share.
Zacks Rank & Key Picks
Currently, PGT Innovations carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Arcosa, Inc. ACA, Construction Partners, Inc. ROAD and TopBuild Corp. BLD, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arcosa, Construction Partners and TopBuild have a three-five year earnings growth rate of 12.6%, 10%, and 28%, respectively.
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