The 10-second takeaway
For the quarter ended March 30 (Q1), PGT beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share increased. GAAP earnings per share increased.
Margins grew across the board.
PGT logged revenue of $49.6 million. The two analysts polled by S&P Capital IQ looked for a top line of $45.9 million on the same basis. GAAP reported sales were 30% higher than the prior-year quarter's $38.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.06. The three earnings estimates compiled by S&P Capital IQ predicted $0.03 per share. Non-GAAP EPS were $0.06 for Q1 against -$0.01 per share for the prior-year quarter. GAAP EPS were $0.09 for Q1 versus -$0.01 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 35.4%, 410 basis points better than the prior-year quarter. Operating margin was 9.1%, 850 basis points better than the prior-year quarter. Net margin was 10.6%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $53.1 million. On the bottom line, the average EPS estimate is $0.11.
Next year's average estimate for revenue is $199.4 million. The average EPS estimate is $0.32.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 54 members out of 74 rating the stock outperform, and 20 members rating it underperform. Among 15 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 12 give PGT a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on PGT is buy, with an average price target of $5.25.
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