The 10-second takeaway
For the quarter ended June 29 (Q2), PGT beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share expanded significantly.
Gross margins dropped, operating margins increased, net margins increased.
PGT reported revenue of $62.8 million. The five analysts polled by S&P Capital IQ anticipated a top line of $57.1 million on the same basis. GAAP reported sales were 35% higher than the prior-year quarter's $46.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.14. The five earnings estimates compiled by S&P Capital IQ predicted $0.10 per share. Non-GAAP EPS of $0.14 for Q2 were 100% higher than the prior-year quarter's $0.07 per share. GAAP EPS of $0.19 for Q2 were 171% higher than the prior-year quarter's $0.07 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 33.5%, 200 basis points worse than the prior-year quarter. Operating margin was 10.7%, 90 basis points better than the prior-year quarter. Net margin was 15.8%, 790 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $54.3 million. On the bottom line, the average EPS estimate is $0.11.
Next year's average estimate for revenue is $212.2 million. The average EPS estimate is $0.36.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 57 members out of 77 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 outperform, with an average price target of $9.88.
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